$MANTA /USDT ANALYSIS

1.Current Price: The current price is around 0.710 USDT, showing a slight increase.

2.Resistance and Support Levels:

•High Resistance: There’s a notable resistance at around 1.111 USDT, marked as a “High short liquidation” zone. This indicates that if the price approaches this level, it may face selling pressure from traders looking to close their short positions.

•Support Levels: Key support levels are around 0.559 and 0.551 USDT, with a major low at 0.362 USDT, serving as stronger support if the price declines further.

3.Price Channel:

•The price is moving within a descending channel (shown by green trendlines), which often indicates a bearish trend until a breakout occurs.

4.Stochastic RSI:

•The Stochastic RSI is currently at moderate levels (K: 35.44, D: 22.69), suggesting that the asset is not overbought or oversold at the moment. However, the RSI may indicate potential upward momentum if it moves above 50.

▫️Summary:

MANTA is trading within a descending channel, showing resistance near 1.111 USDT and support around 0.559-0.551 USDT. A breakout from this channel would be essential for a potential trend reversal. Traders might watch for a potential breakout or breakdown, with the Stochastic RSI showing room for movement either way.

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