MNT price rises as KelpDAO exploit fears ease, outlook bullish

Mantle (MNT) is showing a mildly bullish short-term outlook after gaining 4.1% over the past 24 hours to around $0.6456, outperforming Bitcoin amid a broader altcoin rotation.

Bitcoin has risen about 2.26% over the same period, while capital has been rotating into higher-volatility assets across the crypto market.

Other altcoins such as Stellar (XLM), Toncoin (TON), and MemeCore have recorded gains in the 5% to 7% range, reinforcing the shift toward altcoins rather than Bitcoin-led momentum.

In this environment, Mantle has closely tracked the broader trend, with its daily range spanning from $0.6179 to $0.6476.

Trading activity has also picked up meaningfully, with daily volume crossing $1.11 billion, indicating that the recent price move is supported by strong participation rather than thin liquidity.

Altcoin rotation supports short-term momentum

The current Mantle price surge is largely tied to a broader rotation across the crypto market.

As Bitcoin stabilised near the $76,000 level, traders shifted exposure toward altcoins, which typically carry higher beta during risk-on phases.

This rotation has been visible across multiple large-cap tokens, with gains clustering in mid- and high-cap assets rather than being concentrated in Bitcoin.

While no single protocol-specific catalyst has driven the move, sentiment across the altcoin sector has provided consistent support.

The correlation between MNT and broader market risk appetite has been particularly evident over the past week. However, the token still shows a net 7-day decline of about 4%, indicating that the recent rebound is more of a recovery within a volatile range than a sustained trend reversal.

KelpDAO exploit and liquidity recovery

Sentiment around Mantle improved further following clarification regarding the recent KelpDAO rsETH incident.

Mantle confirmed that its underlying network, official bridge, and core assets were not impacted by the exploit.

According to Mantle, the KelpDAO exploit was isolated specifically to KelpDAO’s rsETH configuration, with no spillover effect on Mantle’s core infrastructure.

On-chain data indicates that approximately $204 million in core USD liquidity was repaid within roughly 48 hours following the April 18 event.

This rapid recovery helped stabilise liquidity conditions after a sharp decline in total value locked, which had fallen significantly in the immediate aftermath of the incident.

Mantle has also been coordinating with DeFi platforms, including Aave, to manage recovery procedures and address any residual risk exposure linked to the event.

The clarity around the containment of the exploit has played a key role in easing short-term uncertainty, allowing price action to align more closely with broader market trends rather than risk-driven selling pressure.

Mantle price forecast

Mantle is currently trading in a recovery phase after a broader 30-day decline of about 11.74%, which continues to weigh on the medium-term structure.

Despite the recent rebound to around $0.6427, the token remains under pressure from the wider downtrend, making resistance levels particularly important in the short term.

The immediate level to watch is $0.69, which now acts as a key resistance zone. A break above this level would strengthen the current recovery structure and support short-term sentiment.

However, if selling pressure returns and MNT falls below the $0.62 support level, the structure would weaken quickly.

In that scenario, the next area of interest lies near $0.58, which aligns with prior demand and would likely act as the next significant support zone.

Overall, the short-term outlook remains cautiously bullish, but continuation depends on whether Mantle can hold above $0.62 and build enough momentum to challenge resistance levels above $0.66.