MANTA/Bitcoin Market Overview: Volatility, Key Levels, and Holding Signals

Summary
• Price remains tightly range-bound near 9.1e-07, with minor fluctuations between 9.0e-07 and 9.5e-07.
• Volume spikes occurred mid-day as price tested key levels, but failed to confirm directional bias.
• MACD remains neutral, while RSI indicates neither overbought nor oversold conditions.

Market Overview

Manta Network/Bitcoin (MANTABTC) opened at 9.1e-07 on 2025-11-03 at 12:00 ET, reached a 24-hour high of 9.5e-07, and closed at 9.2e-07 as of 12:00 ET on 2025-11-04. The pair experienced a low of 8.8e-07 during the session, with total traded volume of 263,154.4 and a notional turnover of 241.6 BTC. Price action remains within a narrow range, with no clear trend emerging on the 15-minute chart.

Structure & Formations

Price has formed multiple consolidation patterns, including small bullish and bearish hammers, but no decisive reversal or continuation patterns have emerged. A key support level appears to be forming at 9.0e-07 based on repeated retests, while resistance remains unconfirmed above 9.3e-07. A potential bullish engulfing pattern was observed briefly but fizzled out without follow-through volume, suggesting caution in short-term positioning.

Moving Averages and Momentum

On the 15-minute timeframe, the 20-period and 50-period moving averages are closely aligned, indicating indecision. The 20SMA crossed the 50SMA slightly to the downside during the mid-session decline. RSI sits at 52, suggesting balanced momentum with no immediate overbought or oversold conditions. The MACD histogram remains flat, with the line hovering near the signal line, reflecting continued consolidation.

Bollinger Bands and Volatility

Price has spent much of the 24-hour period near the middle of the Bollinger Bands, with volatility remaining moderate. A brief contraction in band width was observed between 03:00 and 05:00 ET, followed by a mild expansion, suggesting potential for a breakout in the near term. However, the lack of follow-through volume suggests traders may be waiting for a catalyst or clearer directional signal.

Volume and Turnover Analysis

Volume increased moderately during the afternoon and early evening ET, especially between 18:00 and 21:00 ET, when price tested both support and resistance levels. However, notional turnover did not spike in tandem with price moves, suggesting limited conviction in either direction. A divergence between price and turnover is visible in the late evening session, where a drop in turnover accompanied a downward price move, signaling potential exhaustion of short-term bearish momentum.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 8.8e-07 to 9.5e-07, price appears to find support at 38.2% (9.18e-07) and resistance at 61.8% (9.27e-07). On the daily chart, retracement levels from the recent high of 9.5e-07 suggest a potential bounce point at 9.0e-07.

Backtest Hypothesis

To evaluate the potential effectiveness of the Bullish Engulfing pattern for MANTA/Bitcoin, a precise and consistent ticker symbol is required. The current symbol “MANTABTC” may not be supported by the data vendor. To proceed with the backtest, we need confirmation of the correct exchange and symbol format. Once the correct ticker is established, the three-day holding strategy can be tested for the period from 2022-01-01 to 2025-11-04. This will allow us to assess the strategy’s profitability and risk profile based on historical data.