View the MANTA/USDT chart on Binance (1D) 📊

$MANTA $NOT $BB

On the MANTA/USDT daily timeframe chart, there are several key technical indicators and patterns that can provide insight into future price movements.

  1. Moving averages (MA):

    • MA (25, 99) 📉: MANTA price is trading well below both moving averages, highlighting a strong downtrend. These moving averages act as resistance to any potential recovery.

  2. Ichimoku Cloud:

    • ☁️ The price is under the Ichimoku cloud, which is a classic bearish signal. The cloud provides resistance from above and predicts that upward movements may encounter strong resistance.

  3. Parabolic SAR (SAR):

    • 🔴 SAR points are located above the price, which also supports the downtrend, signaling traders about a potential sale.

  4. Support and resistance levels:

    • Support Level 💜: The main support zone is around $0.548, which has already been tested previously.

    • Resistance Level 🟣: The main resistance is visible in the area of ​​$1.671 and above, where the price last reflected from the Ichimoku cloud.

  5. Trading volumes:

    • 📈 Volumes show stability at a low level, which may indicate a lack of interest in the asset in current price ranges.

Possible price movement scenarios 🔄

  • Bearish Scenario: 🐻 If MANTA breaks the $0.548 support, it could lead to further price declines with a potential target at the next support level. Selling may intensify if these key levels are broken.

  • Bullish scenario: 🐂 To reverse the current trend, MANTA must consolidate above the Ichimoku cloud, which now seems unlikely without significant fundamental changes or an increase in trading volumes.

Recommendations for traders 📝

  • For bears: Monitor the stability of the support level and prepare for a possible continuation of the downward trend. Consider short positions when the price consolidates below $0.548 with clearly defined stop losses.

  • For bulls: Carefully observe the price behavior relative to the Ichimoku cloud. Entry into long positions is recommended only after confirmation of the breakout and price consolidation above the cloud with targets at resistance levels.

Conclusion 🌟

MANTA is showing clear signs of a bearish trend with limited prospects for a quick recovery. It is important to use an integrated approach, taking into account both technical indicators and market conditions, to formulate trading strategies.