According to our current estimates, the #MANTA Network price is expected to increase by 230.31% to $2.25 by October 9, 2024. However, technical indicators show that the market is currently in a "Bearish" (bearish) mode. Also, the Fear & Greed Index is at 26 (Fear). The price volatility over the last 30 days is at 7.71%, while Manta Network has shown a positive performance for 15/30 days (50%).
Technical Indicators
200-Day Simple Moving Average (SMA): Over the next month, $MANTA Networkâs 200-day SMA is projected to decline and reach $1.450086 by October 9, 2024. 50-Day Simple Moving Average (SMA): The short-term SMA is forecasted to reach $1.101723 by the same date.
Relative Strength Index (RSI)
The RSI is a popular momentum oscillator that indicates whether an asset is oversold (below 30) or overbought (above 70). Currently, the RSI for Manta Network is 45.37, which indicates that the market is in a neutral position.
Support and Resistance Levels
Based on todayâs classic pivot point (P1), key support levels for Manta Network are $0.632698, $0.60764, and the strongest support at $0.588351 respectively. Similarly, resistance levels are located at $0.677044, $0.696332, and $0.72139.
Factors That Will Support Manta Network Price Increase
Some fundamental macroeconomic developments are expected to increase the price of Manta Network. The first of these is the decisions of the US Federal Reserve ( #Fed ) regarding interest rates. If the Fed lowers or keeps interest rates constant, this development could create a positive momentum in the cryptocurrency markets in general.
In addition, the start of a bull run in the altcoin market will contribute to the rise in prices of altcoins such as Manta Network. In cryptocurrency markets, money is usually expected to flow first to #btc and then to altcoins. When Bitcoin's market dominance weakens, investors' risk appetite increases and capital begins to shift to altcoins. In the process, Manta Network is also likely to experience a price increase.
As a result, although the short- and medium-term technical outlook for Manta Network is complex, significant price movements can be expected along with positive developments in market dynamics.
