Date: Mon, Nov 25, 2024, 10:53 AM GMT
The cryptocurrency market is seeing strong upward momentum, with altcoins gaining significant attention as Bitcoin dominance declines. Following the momentum, Arbitrum (ARB) and Mantle (MNT) have recently come into the spotlight, as both tokens are approaching critical resistance levels following notable surges.
Source: Coinmarketcap
Arbitrum (ARB)
$ARB has seen a 8% gain today, pushing its price toward a key resistance zone between $0.83 and $0.96, as seen in the chart. This zone represents a critical area where ARB has struggled to move past in the past. A breakout above this resistance level could signal the start of a bullish phase for ARB, potentially igniting further upside momentum.
If ARB successfully breaches its current resistance zone, the next major target is $1.25, representing a 37% potential upside. This level is key as it aligns with historical retracement zones, and a breakout could spark further buying interest.
Beyond $1.25, the next targets are $1.78 and $2.26, offering up to a 135% potential gain. These levels coincide with strong resistance zones from previous market cycles, and if ARB continues its momentum, these targets could signal a significant bullish continuation.
Mantle (MNT)
MNT is also making notable gains, with today’s 4% rise pushing its price toward the upper boundary of a key resistance zone between $0.87 and $0.97. This level has acted as a significant barrier for MNT in the past, and a successful breakout could mark the beginning of a new bullish trend.
If MNT manages to breach this resistance zone, the next major target lies at $1.04, offering a 20% potential upside. This level is crucial as it aligns with previous consolidation zones where significant price action occurred, making it a key point to monitor.
Beyond $1.04, the subsequent targets are $1.27 and $1.41, representing a further 42% potential gain. These levels coincide with strong resistance zones observed in earlier trading cycles, highlighting their importance. A sustained breakout above these levels could signal a robust bullish continuation for MNT, attracting increased attention from investors.
Outlook for ARB and MNT
Both Arbitrum (ARB) and Mantle (MNT) are at pivotal resistance levels that could determine their near-term price direction. If either of these tokens successfully breaks through their respective resistance zones, significant upside potential exists. Traders should watch these levels closely as the next move could set the tone for further price appreciation. However, rejection at these resistance points could lead to a pullback, so investors should remain vigilant.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
