Date: Wed, Aug 20, 2025 | 06:35 AM GMT
The cryptocurrency market has been under pressure this week, with Ethereum (ETH) sliding to $4,150 from its recent high of $4,780 — marking a 10% weekly drop. This weakness has spilled over into several major altcoins .
Yet, Mantle (MNT) is showing remarkable resilience. While the broader market struggles, MNT posted an 8% gain today and extended its monthly rally to over 73%. This impressive run has now brought the token face-to-face with a critical resistance level — raising the question: is a bullish breakout on the horizon?
Source: Coinmarketcap
Double Bottom Formation in Play
On the weekly chart, Mantle is shaping a double bottom pattern, which is often considered one of the strongest bullish reversal setups. The chart highlights two clear lows at nearly the same level, validating the structure.
Mantle (MNT) Daily Chart/Coinsprobe (Source: Tradingview)
After bouncing strongly from the right bottom support near $0.55, MNT has rallied all the way to $1.39. The token is now testing the neckline resistance between $1.38 and $1.41, a level that could determine whether the next major leg higher begins.
What’s Next for MNT?
If Mantle breaks above this neckline resistance, the double bottom pattern would be confirmed. This scenario opens the door for a rally toward $2.27, a level projected by measuring the height of the pattern and extending it upward from the neckline. Such a move would represent a potential 62% upside from the current price.
In many cases, however, a breakout is followed by a retest of the neckline before momentum resumes to the upside.
