- MNT/USD has been testing Fibonacci levels that are key for growth.
- A breakout above $1.2439 would push price up.
- MNT/USD may target $8.57 if this bullish pattern is resolved.
The MNT/USD pair seems destined for an upward price action owing to the existence of a 5-wave Elliott wave pattern. The price showed great promise in breaking through key Fibonacci levels with a low of $0.7521 as of March 2025. MNT is showing technical signs of strength and some resistance at $1.2439 and $3.4344. If the price manages to stay above this support of $0.7521, it could push toward the $8.57 range, completing the 5-wave pattern and marking a huge rally for MNT/USD.
Elliott Wave and Fibonacci Projections: A Clear Path Forward
According to the chart, MNT/USD is currently in its second wave of a larger 5-wave cycle, with each wave governed by Fibonacci retracement levels. The present support level lies at $0.7521 while the next significant resistance is at $1.2439. Should the price break above this resistance, it will pave the way for the next target of $3.4344.
Thereon, price may then skyrocket towards $8.57, as that will complete the 5-wave pattern. Fibonacci levels will play an integral part in determining the movement of price, which marks them as very strong watch points as the rally unfolds.
What Else Leads The Charge As It Breaks Resistance?
MNT/USD will sustain and break key resistance levels; hence, the strength to maintain this potential rally rhythm will be key here. If it maintains the momentum and breaks the $1.2439 resistance line, then the next significant level would be $3.4344. Beyond that on a successful breach would likely see the $8.57 level becoming a target. Inasmuch as this technical set up appears conducive, it remains dictated by market sentiment and larger economic conditions on whether MNT/USD can sustain its rally.
As MNT/USD goes higher, therefore investors should focus on the Fibonacci levels for confirmation on the major supports. In particular, $0.7521 support and $1.2439 resistance should remain in view. Provided the pair can secure above these levels, it stands a chance for a potential thrust up-the-band: $8.57. Should the aforementioned level be broken convincingly, it’s a satisfactory indication to trade the 5-wave pattern toward the rally in 2025.However, any failures to break these levels would suggest caution and be ready to reconsider the position.
