Technical analysis of the MANTA/USDT token 👇👇👇👇👋👋👋 by Cris Cors.

The MANTA/USDT token has seen a sharp drop in price, as shown by the red candles on the 1-hour chart. The bearish trend is confirmed by the red arrow pointing down.

The price has approached a key support level at 3.07146 USDT, where it could bounce or break lower.

To analyze the volatility of the token, Bollinger bands are used, which are lines that surround the candles and contract and expand according to the price variation.

A contraction of the bands is observed before the drop, indicating a decrease in volatility and a possible breakout.

After the drop, the bands expand, indicating increased volatility and significant price movement.

The spread between the bid and the ask is the difference between the price at which the token can be bought and sold.

A tight spread, like the one shown in the chart, indicates high liquidity and low transaction costs.

A wide spread indicates the opposite.

The possible scenarios for the MANTA/USDT token are as follows:

If the price bounces off the support level of 3.07146 USDT, it could start a recovery and rise towards the resistance level of 3.26487 USDT, where it would meet the upper Bollinger band and could face selling pressure. If the price breaks the support level of 3.07146 USDT, it could continue its decline and look for the next support level at 3.09702 USDT, where it would meet the lower Bollinger band and could face buying pressure.

This analysis has been performed for educational purposes and does not constitute an investment recommendation. The MANTA/USDT token is a high-risk asset and it is recommended to do prior research before trading it.

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