MANTA/Bitcoin Market Overview – 2025-11-09

Summary
• Manta Network/Bitcoin (MANTABTC) remains range-bound near 1.05e-06, with limited directional bias.
• Key support at 1.02e-06 and resistance at 1.08e-06 show strong consolidation.
• Volatility dipped overnight, with volume declining after a midday spike.

The Manta Network/Bitcoin (MANTABTC) pair opened at 1.06e-06 on 2025-11-08 at 12:00 ET and reached a high of 1.12e-06 before settling at 1.05e-06 at the same time on 2025-11-09. Total trading volume across the 24-hour window was 545,259.7 units, with a notional turnover of $573.0. The pair appears to be consolidating within a tight range, with no clear directional momentum emerging from the data.

Structure & Formations

The MANTABTC pair has shown consistent range-trading behavior around 1.05e-06 to 1.08e-06, with multiple attempts to break above 1.08e-06 failing in the afternoon and evening hours. A small bearish engulfing pattern formed at 02:30 ET, confirming a short-term reversal from a modest bullish rally. No strong reversal or continuation candlestick patterns emerged, though a few doji suggest indecision in the market.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages closely track the price, both hovering around 1.05e-06 to 1.06e-06. This suggests the market is in equilibrium with little divergence. On the daily chart, MANTABTC remains well above its 200-period moving average, which currently sits near 1.04e-06, indicating a longer-term bullish trend is intact, though short-term direction remains uncertain.

MACD & RSI

The MACD line has remained flat near zero, suggesting a lack of directional momentum. The histogram is shrinking, signaling potential exhaustion on both sides of the market. The RSI is in the mid-range (45–55), neither overbought nor oversold, reflecting a balanced market with little bias toward either buyers or sellers.

A late-day bullish push from 1.05e-06 to 1.08e-06 was met with strong resistance, confirming the 1.08e-06 level as a key ceiling. The inability to sustain above 1.08e-06 suggests near-term buyers are hesitant. In the next 24 hours, traders should watch for a potential break of either 1.02e-06 or 1.08e-06, which would signal a clearer trend. However, the risk of further consolidation remains high.

Bollinger Bands

The price remains within the Bollinger Bands, with the 20-period band centerline hovering at 1.05e-06. Volatility has remained low and relatively flat across the 24-hour period, with no major contractions or expansions observed. The narrow trading range suggests a lack of conviction in either direction, and price has spent most of the day near the mid-band, reinforcing the range-bound nature of the market.

Volume & Turnover

Volume was highest during midday hours (14:15–15:45 ET), particularly with a large volume spike at 14:15 ET (114,798.6 units), which coincided with a strong move up to 1.12e-06. However, after this peak, volume dropped significantly, suggesting the bullish move lacked follow-through. Turnover mirrored volume, with the most activity concentrated between 14:15 and 16:45 ET. No notable divergences between price and volume were observed, indicating that trading activity remained consistent with price direction.

Fibonacci Retracements

Applying Fibonacci retracement levels to the most recent 15-minute swing from 1.05e-06 to 1.08e-06, key levels at 38.2% (~1.07e-06) and 61.8% (~1.06e-06) were tested multiple times, especially during the midday rally. These levels acted as temporary barriers, with the price failing to sustain above 1.07e-06. On the daily chart, the 61.8% retracement level from the 2025-11-08 low to high sits near 1.06e-06, aligning with the 15-minute chart’s consolidation range.

Backtest Hypothesis

The absence of RSI data for MANTABTC presents a challenge for quantitative backtesting of momentum strategies. Typically, a 5-day holding-period back-test using RSI would seek to identify overbought (>70) and oversold (<30) conditions to trigger buy or sell signals. Given that RSI data is unavailable for this pair, the strategy cannot be implemented in its current form. To proceed, identifying the correct exchange-specific symbol (e.g., "MANTA/BTC" or "MANTA-BTC") or providing an alternate dataset would be necessary to validate the strategy on this pair. The current range-bound structure of MANTABTC also suggests that RSI may not be particularly informative without a stronger directional bias.