MNT/USD Analysis

• MNT/USD has been testing key Fibonacci levels crucial for growth.
• A breakout above $1.2439 would push the price up.
• MNT/USD may target $8.57 if this bullish pattern resolves.

The MNT/USD pair appears poised for upward movement due to the presence of a 5-wave Elliott wave pattern. Recently, the price showed promise by breaking through significant Fibonacci levels, with a low of $0.7521 as of March 2025. MNT displays technical strength but faces resistance at $1.2439 and $3.4344. If it maintains levels above $0.7521, a surge toward $8.57 is possible, concluding the 5-wave pattern and indicating a major rally for MNT/USD.

Elliott Wave and Fibonacci Projections: A Clear Path Forward

As per the chart, MNT/USD finds itself in the second wave of a broader 5-wave cycle, influenced by Fibonacci retracement levels. The current support level is at $0.7521, while the next resistance is $1.2439. A break above this resistance could lead to the next target at $3.4344, and eventually towards $8.57, completing the 5-wave pattern. Fibonacci levels are crucial watch points in this unfolding rally.

What Else Leads The Charge As It Breaks Resistance?

MNT/USD is expected to sustain and breach key resistance levels, and the strength to maintain this potential rally is critical. A firm break past $1.2439 would place $3.4344 as the next significant milestone, followed by $8.57. While the technical setup seems favorable, market sentiment and broader economic conditions will dictate whether MNT/USD can maintain its rally.

As MNT/USD rises, investors should focus on Fibonacci levels to confirm major supports. Especially, support at $0.7521 and resistance at $1.2439 should be closely monitored. If the pair can hold these levels, a potential rise to $8.57 is within reach. A convincing break above this target will signal a trading opportunity for the 5-wave pattern leading to a rally in 2025. However, failure to break these levels may call for caution and a reassessment of positions.