Mantle price is taking a hit today as the altcoin market faces another wave of liquidations. After weeks of strong gains, the token has slipped hard, and it’s not alone.
The entire crypto market just saw over $630 million in liquidations between October 14 and 15, with Mantle getting hit especially hard.
So what’s really behind this drop? Let’s break it down.
What you'll learn 👉
Altcoin Liquidation Spiral
The first reason is simple, over-leveraged traders getting wiped out. When Bitcoin dipped below $113K, it triggered margin calls and forced liquidations across the board.
Mantle’s open interest dropped 9% in 24 hours, showing how quickly positions were flushed. Once that cascade started, stop losses triggered, and the selling pressure snowballed. Retail traders joined in on the panic, adding even more downside momentum.
It’s the same old crypto story, one sharp Bitcoin move, and everything else unravels twice as fast.
Growing Caution Sends Traders Fleeing from Altcoins
There’s also a clear shift in sentiment. Bitcoin dominance climbed to 58.9%, which means traders are moving into “safer” assets and away from riskier altcoins.
The Altcoin Season Index has dropped almost 60% in a month, showing how fast appetite for smaller caps has dried up. Mantle felt that pain more than most, falling around 16%, compared to Ethereum’s 4% and Solana’s 8% losses.
Basically, when traders get scared, they sell high-beta tokens first. Mantle’s strong fundamentals, like its growing ecosystem, Bybit integration, and RWA developments, don’t matter much when everyone’s running for cover.
MNT Price Chart Confirms a Technical Breakdown
The Mantle chart doesn’t help either. MNT price has broken below its $1.76 pivot, which was acting as a key short-term support. It’s now trading under all major moving averages, including the 7-day SMA at $1.89.
The MACD histogram just flipped negative, confirming that momentum has turned bearish. The earlier bounce from $1.50 has now been invalidated. The next level to watch is $1.56, right at the 78.6% Fibonacci retracement.
If Mantle price can’t hold there, a retest of the September low near $1.20 looks likely. That’s where buyers last stepped in before the token rallied more than 100% in the following weeks, so it’s a critical zone to watch.
The Bigger Picture
Even though the short-term chart looks rough, Mantle’s long-term outlook hasn’t changed. Its fundamentals remain strong, and the ecosystem continues to grow behind the scenes. What we’re seeing now is more about market psychology than project weakness.
After a huge run-up, a healthy reset like this is normal. If MNT price can stabilize above $1.56, it might start forming a new base before the next leg higher once the market calms down.
For now, though, it’s all about risk management. Traders are watching whether Mantle holds the line, because if it breaks, that slide to $1.20 could come fast.
Read Also: Don’t Buy Ethereum – Invest in Solana Instead, Warns Top Analyst
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
