Market Overview: MANTRA/Bitcoin (OMBTC) on 2025-10-11

• MANTRA/Bitcoin (OMBTC) drifted lower by ~23% over the 24 hours, closing near the session low.
• Price tested key support levels at $9.8e-07 and $9.6e-07, with mixed volume confirmation.
• RSI signaled oversold conditions, but price failed to bounce above 9.9e-07.
• Volatility expanded mid-session before settling near the lower Bollinger Band.
• Heavy volume occurred during the selloff from 19:30 to 22:00 ET, indicating bearish control.

MANTRA/Bitcoin (OMBTC) opened at $1.29e-06 on 2025-10-10 at 16:00 ET and closed at $9.9e-07 on 2025-10-11 at 12:00 ET, registering a 23.4% decline. The 24-hour high and low were $1.31e-06 and $3.0e-07, respectively. Trading volume totaled 1,631,073.5, with notional turnover amounting to $1,155.8. A sharp bearish reversal unfolded after 19:30 ET, where price collapsed below key support and failed to retest former resistance.

The 15-minute chart shows a breakdown below the 20- and 50-period moving averages, confirming a short-term bearish bias. A Doji formed near 1.27e-06, followed by a bearish engulfing pattern as price collapsed to 5.2e-07. Bollinger Bands widened during the sell-off, with price now trading near the lower band, signaling high volatility and potential consolidation. The 61.8% Fibonacci retracement level at $9.6e-07 appears to be a critical support for the near term.

MACD turned negative with a bearish crossover, while RSI reached oversold territory around 30–35, failing to trigger a bounce. Volume was muted in the final 6 hours, indicating waning conviction among bears. However, price struggled to reclaim key resistance above 9.9e-07, raising the probability of a test of the next support at $9.6e-07.

The RSI and MACD divergence suggests potential for a short-term bounce, but a sustained move above 9.9e-07 is unlikely without a surge in volume and a breakout from the lower Bollinger Band. Traders may watch for a rejection at $9.6e-07 or a break below it, which could accelerate further downside toward $9.3e-07.

Backtest Hypothesis
A backtest using the 15-minute chart could involve a strategy that triggers a short signal when RSI dips below 35 and MACD turns negative with a bearish crossover. Stop-loss would be placed above the 20-period moving average, and take-profit at the 61.8% Fibonacci retracement level or the next key support. Given the recent breakdown, this strategy may prove profitable if the selloff continues, but risks false signals if price consolidates at the 9.6e-07 level.