MANTRA/Bitcoin Market Overview

Summary
• Price consolidated between $0.00000088 and $0.00000093 through the 24-hour period.
• Volume spiked during key price breakouts in the afternoon and early evening ET.
• RSI remains in mid-range, suggesting balanced momentum with no extreme overbought or oversold conditions.
• Bollinger Bands show moderate volatility with price staying within the channel.
• A bullish breakout above $0.00000093 could trigger further buying pressure.

Opening Narrative

MANTRA/Bitcoin (ticker: OMBTC) opened at $0.00000088 on 2025-11-06 12:00 ET and reached a high of $0.00000093 before closing at $0.00000093 on 2025-11-07 12:00 ET. Total volume for the 24-hour period was 35,032.0 and notional turnover was approximately $31.5252. Price action showed consolidation and a few key price breakout attempts, particularly in the afternoon and early evening.

Structure & Formations

Price action displayed a range-bound structure between key levels of $0.00000088 and $0.00000093. Several bullish and bearish engulfing patterns emerged during price swings. A notable bullish engulfing pattern appeared at 2025-11-07 05:15 ET as price broke above $0.00000091. A small bearish doji was recorded at 2025-11-07 09:45 ET as resistance at $0.00000091 was tested again.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are closely aligned, suggesting consolidation. On the daily chart, the 50-period MA is just below the 100-period MA, and both are below the 200-period MA, indicating a neutral to slightly bearish bias in the longer term.

MACD & RSI

The MACD histogram showed a slight bullish divergence in the last 6 hours, with MACD line crossing above the signal line twice. RSI hovered around the mid-range (50–60), indicating balanced momentum without overbought or oversold conditions.

Bollinger Bands

Bollinger Bands showed moderate volatility, with the 20-period channel between $0.00000088 and $0.00000093. Price remained within the channel for most of the period, indicating a continuation of a consolidation phase. A breakout above the upper band could signal renewed bullish momentum.

Volume & Turnover

Volume was relatively low in the early hours but spiked during key price swings in the late afternoon and early evening. Turnover aligned with volume surges, confirming price action rather than signaling divergence. A significant volume increase occurred at $0.00000093, suggesting accumulation.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from $0.00000088 to $0.00000093, price found support at the 38.2% level around $0.00000090 and resistance at the 61.8% level near $0.00000091. Price action suggests buyers are more aggressive at the 61.8% level, which may indicate a potential for a test of the upper end of the range.

Backtest Hypothesis

The event-based backtest strategy described earlier focuses on analyzing specific price movements and volume dynamics to identify high-probability entry points. By applying this strategy to the MANTRA/Bitcoin pair, we could test how well it performs in a consolidating and low-volatility market like the one observed in the last 24 hours. Given the relatively limited breakout attempts and the presence of bullish engulfing patterns, such a strategy could focus on triggering long positions during confirmed breakouts above key levels, such as $0.00000091 and $0.00000093.