MANTA - -51.84% in 24 Hours Amid Sharp Downtrend

On SEP 1 2025, MANTA dropped by 51.84% within 24 hours to reach $0.198, MANTA dropped by 1181.07% within 7 days, dropped by 471.7% within 1 month, and dropped by 7613.18% within 1 year.

The recent performance of MANTA has drawn attention due to its sharp and sustained price decline. The 24-hour drop of 51.84% marked the most severe movement in recent memory, signaling a significant devaluation in a short time span. The drop was not an isolated event but rather the culmination of a broader, multi-week bearish trend. The steep 7-day decline of over 1,100% further underscores the intensity of the sell-off, which has eroded more than half of the asset’s one-month value and nearly all of its year-to-date gains.

From a technical standpoint, the price movement has exhibited strong bearish momentum, with key indicators reinforcing the downward trajectory. Short-term moving averages have crossed below long-term averages, forming a bearish “death cross” pattern that is often interpreted as a signal for further declines. Additionally, the Relative Strength Index (RSI) has fallen into oversold territory, suggesting a potential for volatility, though not necessarily a reversal in the current trend.

Backtest Hypothesis

In light of these technical signals, a backtesting strategy has been proposed to evaluate potential responses to similar historical conditions. The strategy is designed to simulate a short-selling approach triggered when the RSI dips below the 30 level, combined with a death cross formation between the 50-day and 200-day moving averages. The exit condition is set when the RSI crosses back above 40 or when a bullish crossover occurs between the same moving averages. This method aims to capture the full extent of bearish momentum while minimizing exposure during periods of consolidation or potential recovery.