$MANTA $MANTA
$MANTA /USDT Technical Analysis
Key Data:
Current Price: $0.708 (+5.83%)
24h High: $0.729
24h Low: $0.663
Volume: 15.72M MANTA (10.96M USDT)
Moving Averages:
MA(7): $0.693
MA(25): $0.629
MA(99): $0.674
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Support & Resistance Levels:
Resistance:
Primary resistance at $0.729 (24h high).
Secondary resistance around $0.741, a psychological level above the current high.
Support:
Primary support at $0.663 (24h low).
Secondary support around $0.677, near MA(7), which might act as a support zone.
Analysis:
Trend: The price is above the MA(7) and MA(25), which suggests a short-term bullish trend. There is a solid uptrend with a higher high at $0.729, and the price is currently testing resistance.
Momentum: The price has been moving with moderate volume (15.72M MANTA), suggesting a stable market condition with potential for further price action if resistance is broken.
Indicators: The MA(99) and MA(7) are also in alignment, supporting a continuation of the bullish momentum if the price breaks above resistance.
Trade Setup:
Short Setup (if resistance at $0.729 holds):
1. Entry Point: Around $0.725 - $0.729 (near resistance levels).
2. Stop Loss: $0.740 (just above the 24h high, allowing room for volatility).
3. Take Profit:
First target at $0.693 (MA(7)).
Secondary target at $0.663 (24h low), if price breaks below the support.
Long Setup (if price breaks above $0.729):
1. Entry Point: If price breaks and closes above $0.729 with good volume, enter long.
2. Stop Loss: $0.690 (below MA(7) and recent support).
3. Take Profit:
First target at $0.741 (next resistance level).
Secondary target at $0.760, a possible extension from the breakout.
Risk Management:
Position Sizing: Use proper risk management, as price can be volatile near resistance levels.
Volume Confirmation: Monitor for higher-than-average volume to confirm the strength of the move, especially during breakouts.
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