Market Overview for Manta Network/Bitcoin (MANTABTC) on 2025-09-22

• Price declined by 16.2% over 24 hours, closing at 1.64e-06 BTC
• Key support levels tested at 1.63e-06 BTC and 1.62e-06 BTC
• Volatility spiked during the early morning hours before stabilizing
• Volume surged during the 06:15–06:30 ET window, reflecting increased selling pressure
• RSI and MACD suggest bearish momentum but no extreme overbought/oversold readings

Manta Network/Bitcoin (MANTABTC) opened at 1.85e-06 BTC at 12:00 ET − 1 and closed at 1.64e-06 BTC at 12:00 ET on 2025-09-22. The pair traded as high as 1.88e-06 BTC and as low as 1.52e-06 BTC, with a total volume of 344,857.5 MANTA and a turnover of approximately 525.1 BTC over the 24-hour period.

The price action exhibited a bearish bias, with a broad descending trend punctuated by sharp sell-offs early in the session. A key support level appears to have formed around 1.63e-06 BTC, where price found a temporary floor during the latter half of the session. A bearish engulfing pattern was observed at 06:15 ET, confirming a shift in sentiment to the downside. The price has spent the majority of the session below both the 20-period and 50-period moving averages on the 15-minute chart, reinforcing the bearish tone.

The 50-period moving average crossed below the 20-period line in a bearish death cross formation, adding technical confirmation to the downward move. On the daily chart, the 50-period MA appears to be approaching the 200-period MA, suggesting potential for a further bearish crossover. The MACD remains in negative territory with a shrinking histogram, indicating declining momentum. RSI stands at around 30, signaling oversold conditions but not a strong reversal signal at this stage.

Bollinger Bands have expanded significantly during the early hours of the session, reflecting increased volatility. The price has remained below the lower band for several hours, which is a bearish sign. However, recent consolidation around the 1.64e-06–1.65e-06 BTC range suggests that volatility may be stabilizing. A 61.8% Fibonacci retracement level from the recent high to low aligns with the 1.64e-06 BTC price, adding technical significance to the current level.

A potential short-term rebound could occur from the 1.63e-06 BTC support, but a break below that would likely target 1.59e-06 BTC. Investors should remain cautious, as volume has not fully confirmed a strong bearish bias at key lows. A break above 1.67e-06 BTC could test the strength of the recent bearish trend.

Backtest Hypothesis
The backtesting strategy proposed relies on detecting bearish engulfing patterns followed by a close below the 50-period moving average on the 15-minute chart. In this session, such a signal was triggered at 06:15 ET. A sell order would have been placed on confirmation, with a stop-loss above the upper Bollinger Band and a target at the 61.8% Fibonacci level. Backtesting this strategy on historical data would be necessary to assess its robustness and risk-reward profile, particularly in volatile markets like MANTABTC.