The cryptocurrency market has witnessed a significant upturn, sparking enthusiasm among altcoin investors. Notably, two blockchain projects, STX and MNT, have become the focal point for expectations in the market. With blockchain ecosystems advancing rapidly, these projects have gained momentum and investor interest.
Strength in Stacks Signals Bullish Sentiment
In Stacks’ market analysis, the bulls have robustly held the $2.77 level, the 20-day EMA, indicating a consistent positive trend of buying on drops. The vigorous rally on March 10 showcases the bull’s resurgence, despite the bears’ persistent resistance. For a clear sign of an uptrend, buyers aim to elevate the price over $3.39, with potential targets at $4.58 and the key $5 threshold. Conversely, a dip below the 20-day EMA could suggest that the bulls are losing their grip, risking a decline to the 50-day SMA at $2.20.
Mantle’s Prospects Looking Up as Bulls Maintain Edge
Mantle, another altcoin making strides, experienced bearish pushback on March 8, where attempts were made to cap the rally at $1.15. However, buyers have successfully sustained the price above the vital $1 mark. Indications from the rising moving averages and an overbought RSI suggest that bulls currently dominate this market segment. If buyers propel the price beyond $1.15, a bullish trajectory towards $1.37 and eventually $1.50 is conceivable. However, if prices slip below the 20-day EMA of $0.91, the pair might retract to $0.85, or further to $0.80.
These analyses highlight key price levels that could determine the future direction of STX and MNT. Investors and traders are closely monitoring these thresholds to make informed decisions in anticipation of the market’s next big move.