MANTA Network/Bitcoin (MANTABTC) Market Overview for 2025-09-18

• MANTABTC traded in a 1.82e-06–1.93e-06 range, closing near the upper end at 1.92e-06.
• A key resistance level formed near 1.93e-06, with a pullback observed after hitting it.
• Volatility expanded mid-day, with a 15-minute candle surging 300% in volume.
• RSI remained neutral but suggested possible overbought conditions near the 1.93e-06 level.
• A bullish engulfing pattern was seen around 1.90e-06, hinting at short-term buying pressure.

Manta Network/Bitcoin (MANTABTC) opened at 1.82e-06 at 12:00 ET–1 and closed at 1.92e-06 as of 12:00 ET on 2025-09-18. The pair traded between 1.79e-06 and 1.93e-06 during the 24-hour period. Total volume amounted to approximately 203,249.1, with notional turnover reaching a significant level across the session.

Structure & Formations

The price found a key resistance level at 1.93e-06, where it stalled twice during the session, indicating limited upside momentum. A pullback to 1.89e-06 was observed, suggesting that buyers may still be in control. A bullish engulfing pattern emerged around the 1.90e-06–1.92e-06 range, signaling short-term accumulation. A doji at 1.93e-06 also hinted at indecision among traders.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages show a bullish bias, with the price consistently above both. On the daily chart, the 50-period moving average acts as a key support level, while the 100-period and 200-period lines appear to be converging with potential resistance at 1.89e-06.

MACD & RSI

The MACD line showed a slight bullish crossover, suggesting that upward momentum could persist. RSI hovered between 45 and 65, indicating that the asset is not in overbought territory, although it did briefly touch 65 at the 1.93e-06 level. This suggests caution, as overbought conditions may limit further upward movement without a pullback.

Bollinger Bands

Volatility expanded mid-session as the price broke out of a narrow band, with the 1.93e-06 high occurring during a period of wide band expansion. The current price of 1.92e-06 sits just below the upper band, suggesting that the move could be overextended. A contraction in band width is expected if the price consolidates around 1.91e-06 in the next 24 hours.

Volume & Turnover

Volume surged during the 17:45–19:45 ET window, with the 17:45 candle alone accounting for 18,889.5 units of volume. Notional turnover followed a similar pattern, with a notable divergence seen at 22:00 ET when volume dipped but turnover remained stable. This may indicate low conviction in the price direction at that time.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 1.79e-06 to 1.93e-06, the 61.8% level aligns with the 1.89e-06 support, which was tested twice during the session. A potential bounce could occur from this level or a retest of the 1.93e-06 resistance on the daily chart if bullish pressure returns.

Backtest Hypothesis

A potential backtest strategy could involve identifying bullish engulfing patterns near the 20-period moving average, especially when RSI is trending upward and MACD is crossing above the signal line. A long position might be entered at the close of the bullish engulfing candle, with a stop-loss placed below the low of the pattern and a target aligned with the 61.8% Fibonacci retracement level. This approach would test whether such patterns yield consistent returns in the MANTABTC pair under similar volatility and volume dynamics as observed today.