MANTA/Bitcoin Market Overview

Manta Network/Bitcoin (MANTABTC) opened at 1.08 × 10⁻⁶ BTC (12:00 ET - 1), reached a high of 1.08 × 10⁻⁶ BTC, and a low of 1.03 × 10⁻⁶ BTC, closing at 1.04 × 10⁻⁶ BTC as of 12:00 ET today. Total volume traded over 24 hours was 185,869.7 MANTA, with a notional turnover of approximately 193.2 BTC.

• Price drifted lower over 24 hours, testing and finding support around 1.03 × 10⁻⁶ BTC.
• A bearish divergence appears in momentum despite relatively steady volume and no major spikes.
• Volatility expanded after 20:00 ET, with a 1.08–1.03 × 10⁻⁶ range reflecting moderate consolidation.
• No decisive candlestick patterns emerged, but bearish pressure is consistent in the last 8 hours.

Structure & Formations

The 24-hour OHLCV data suggests a drifting bearish bias with no strong reversal patterns. Prices remained range-bound for most of the session between 1.04 × 10⁻⁶ and 1.08 × 10⁻⁶ BTC. A notable bearish move occurred between 21:30 and 22:45 ET, where the price fell from 1.07 × 10⁻⁶ to 1.04 × 10⁻⁶ BTC. A potential support level appears to have formed around 1.03 × 10⁻⁶ BTC after multiple retests. No bullish engulfing or doji patterns were observed, suggesting continued bearish dominance.

Moving Averages

Short-term 20-period and 50-period moving averages (15-minute chart) appear to slope downward, with the 50-period line crossing below the 20-period line in the latter half of the session, indicating a bearish crossover. On the daily chart, the 50/100/200-period MA cluster is expected to show a similar bearish alignment, reinforcing the downward trend.

MACD & RSI

MACD appears to have formed a bearish crossover around 21:00 ET, confirming the downward momentum. RSI remains in mid-range territory (around 50–55), suggesting no immediate overbought or oversold conditions, but a flattening and slight bearish divergence may hint at ongoing selling pressure.

Bollinger Bands

Volatility expanded in the evening hours, with the upper band hitting 1.08 × 10⁻⁶ BTC. The price spent much of the session near the lower band, especially from 21:00 to 23:30 ET, indicating bearish pressure. This suggests that the pair may have entered a higher volatility regime following a consolidation phase.

Volume & Turnover

Volume spiked significantly during the 21:00–23:30 ET window, aligning with the price decline. Notional turnover also increased during this period, confirming the bearish move. A divergence between price and volume is not evident, suggesting that the price action is supported by genuine liquidity.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 1.03 × 10⁻⁶ to 1.08 × 10⁻⁶ BTC swing, the 1.05 × 10⁻⁶ BTC level represents the 38.2% retracement, and 1.04 × 10⁻⁶ BTC aligns with the 61.8% retracement. The price has held near the 61.8% level for the last 10 hours, indicating potential short-term support.

Backtest Hypothesis

The backtesting strategy described focuses on identifying instances when the closing price of MANTA/Bitcoin touched or fell below the 1.04 × 10⁻⁶ BTC support level. Such price events could signal a shift in market sentiment and are key to understanding long-term performance dynamics. Once the correct price data is confirmed and historical close prices are retrieved, the strategy can be tested to evaluate its predictive accuracy in terms of continued bearish momentum or potential bounces from the 1.04 × 10⁻⁶ BTC level. This aligns with our current observation of bearish dominance and could serve as a foundational signal for future entries or exits.