MANTABTC Market Overview: Sideways to Slight Bullish Tilt on 2025-09-23

• Price drifted sideways early, with a consolidation above 1.63e-06 before a modest breakout attempt.
• Volatility dipped mid-day but surged in the final hours, pushing high to 1.67e-06.
• Turnover remained subdued in early sessions but spiked in late-ET hours.
• No strong bearish or bullish candlestick patterns emerged, but a bullish engulfing pattern appeared at 0700 ET.
• RSI remained neutral to slightly overbought, with no clear divergence in price and momentum.

Manta Network/Bitcoin (MANTABTC) opened at 1.63e-06 on 2025-09-22 at 12:00 ET, reached a high of 1.67e-06, a low of 1.61e-06, and closed at 1.66e-06 on 2025-09-23 at 12:00 ET. The pair saw a total volume of 95,204.6 units and a notional turnover of approximately $156.90 USD (assuming $1 = 1 USD). The price action suggested a gradual shift from consolidation to tentative bullish momentum.

The price remained within a 600-basis-point range for most of the session but showed signs of consolidation at key levels. A short-term support level formed around 1.63e-06 and 1.61e-06, while resistance emerged at 1.64e-06 and 1.65e-06. Notable candlestick patterns included a bullish engulfing candle at 0700 ET (closing at 1.66e-06) and a bearish harami at 0515 ET (closing at 1.63e-06). These patterns suggest mixed sentiment during the day.

Momentum indicators reflected a relatively neutral stance. The RSI hovered between 50 and 65, indicating no extreme overbought or oversold conditions. MACD crossed into positive territory late in the session, confirming a tentative upward push. Bollinger Bands showed slight expansion in the final hours, and the price spent most of the day near the upper band, signaling mild overbought tendencies.

Volume and turnover followed a late-ET surge, with most of the higher-volume candles appearing in the 0645 ET to 0830 ET window. The late-ET activity coincided with a breakout attempt from the 1.64e-06–1.65e-06 consolidation area. This suggests increased interest or strategic accumulation during that period. Notably, no significant divergence between price and volume/turnover emerged.

Fibonacci retracement levels applied to the 1.61e-06 to 1.67e-06 swing showed key levels at 1.64e-06 (38.2%), 1.65e-06 (50%), and 1.66e-06 (61.8%). Price tested the 1.65e-06 level multiple times but found support and eventually closed near 1.66e-06. This suggests that short-term traders may be watching 1.65e-06 as a key pivot for the next 24 hours.

The price may continue to consolidate above 1.63e-06 in the near term, with the potential for a test of 1.67e-06–1.68e-06 if the bullish momentum gains traction. However, a pullback to the 1.63e-06–1.62e-06 range remains a risk, especially if volume fails to support the current breakout attempt.

Backtest Hypothesis: A potential strategy could involve entering long positions on MANTABTC at the close of a bullish engulfing candle with confirmation via a close above the 20-period moving average, while using the 61.8% Fibonacci retracement level as a dynamic stop-loss. A profit target could be set at the next key resistance level. This approach would aim to capitalize on short-term bullish momentum observed in the 15-minute chart.