Mantle (MNT) Drops 10% After Bybit Hack Shakes Investor Confidence

Mantle (MNT) fell over 10% after approximately $174 million worth of cmETH, a Mantle-based coin, was stolen from Bybit. This hack, attributed to the Lazarus Group, led to panic selling, pushing MNT's Relative Strength Index (RSI) down to 22.9, indicating oversold conditions. While the RSI has recovered to 39.9, it remains below the neutral 50 level. Mantle's Chaikin Money Flow (CMF), which measures buying and selling pressure, dropped to -0.35, highlighting significant selling but has since improved slightly to -0.24, still negative. The coin's Exponential Moving Average (EMA) lines suggest continued downward price momentum, with MNT dropping below $1 for the first time since early February. While a potential price recovery could push MNT up to $1.31, this depends on the short-term EMAs crossing above the long-term EMAs, indicating a shift in buying momentum.