After fighting with the bears at $71,000, the Bitcoin price is advancing to rise above $72,000. The growing strength among the BTC bulls has also made market participants hopeful about the other altcoins. In recent times, the markets have witnessed the emergence of new altcoins gaining huge attention, including a long list of memecoins. Among them are some cryptos like Mantle and Stacks, which have been maintaining a steady upswing and are believed to remain elevated until the weekend.
Mantle (MNT) Price Analysis
Unlike the other popular cryptos, Mantle price has maintained a steep, elevated trend since the last few weeks of 2023. Although the bears tried hard to squeeze the profits, the bulls have defended their support levels finely. And the recent upswing has revived the possibility of bringing back the yearly highs.
The MNT price has been holding the support level just below $1 at $0.944 for over a month and hence the current rebound was much expected. The RSI is ascending and hence the price is expected to rise and test the upper resistance at $1.08. The Bollinger bands are going parallel with each other, suggesting either the bulls and bears are exhibiting equal power or they are equally passive. Therefore, the price may maintain an ascending consolidation and reach resistance any time from now on.
Stacks (STX) Price Analysis
Stacks price has been displaying acute volatility for the last few weeks of 2023, which has intensified since the start of the year. Further, the price faced a serious pullback but luckily it remained within a bullish range. Moreover, after the breakout from the pattern, the price is believed to maintain a healthy upswing and reach the local resistance zone soon.
The STX price has broken from the falling wedge and is heading towards the resistance zone between $2779 and $2873. However, the bears are offering some hindrance but the mounting buying pressure is expected to hold the rally elevated. Besides, the RSI continues to rise but it is displaying a minor bearish divergence, which is expected to be overcome very soon. Hence, the Stacks price is expected to remain elevated throughout the week and reach the required levels.