After battling the bears at $71,000, Bitcoin price has risen to over $72,000. With BTC bulls gaining momentum, market participants are looking to other altcoins. Recently, the market has seen the emergence of new altcoins that have attracted a lot of attention, including a number of meme coins. Among them are cryptocurrencies such as Mantle and Stacks, which have continued to rise steadily and are expected to remain higher through the weekend.
Mantle (MNT) Price Analysis
Unlike other popular cryptocurrencies, Mantle’s price has maintained a sharp uptrend since the last few weeks of 2023. While bears have tried hard to squeeze out gains, bulls have successfully defended support levels, and the recent upswing has revived the possibility of reclaiming the yearly high.
The current bounce was highly expected as MNT price has been holding the $0.944 support level just below $1 for over a month. The RSI is rising, which suggests that the price can move higher and test the upper resistance at $1.08. The Bollinger Bands are parallel to each other, indicating that bulls and bears are either exerting equal force or being equally reluctant. Hence, the price can continue its upward trend and hit the resistance anytime in the future.
Stax (STX) Price Analysis
The price of Stacks has been showing intense volatility in the last few weeks of 2023, which has intensified since the beginning of the year. Moreover, the price faced serious pullbacks but fortunately remained within the bullish range. Moreover, after the breakout from the pattern, the price is expected to maintain a healthy uptrend and reach the local resistance zone soon.
STX price has broken out of the descending wedge and is heading towards the resistance zone between $2779 and $2873. However, the bears are somewhat blocking it but the growing buying pressure is expected to sustain the rally higher. Moreover, the RSI continues to rise but is showing a small bearish divergence which is expected to be overcome soon. Hence, Stacks price is expected to sustain higher throughout this week and reach the required levels.
