MANTRA/Bitcoin Market Overview

Summary
• MANTRA/Bitcoin traded between $8.7e-07 and $9.9e-07 over 24 hours.
• Price closed at $9.1e-07, up from $8.9e-07 at 12:00 ET–1.
• Volume surged to 70,299.6 at 07:00 ET, confirming strong buying interest.

MANTRA/Bitcoin (ticker: OMBTC) opened at $8.9e-07 on 2025-11-04 at 12:00 ET–1 and closed at $9.1e-07 on 2025-11-05 at 12:00 ET, reaching a high of $9.9e-07 and a low of $8.7e-07. The 24-hour total volume was 194,590.7, and the notional turnover amounted to $176.83. Price action showed a strong consolidation phase in the early hours before a decisive rally in the morning trading session.

Structure & Formations

Price found key support around $8.7e-07 and resistance near $9.9e-07. A bullish engulfing pattern formed at 07:00 ET, with the candle closing at $9.7e-07 after a low of $9.4e-07. This suggests strong buying pressure and a possible reversal from a prior bearish trend. A doji formed at 08:45 ET, indicating indecision near $9.2e-07, followed by a continuation to the upside.

Moving Averages

On the 15-minute chart, price closed above both the 20- and 50-period moving averages, suggesting a short-term bullish bias. The 50-period MA was at $9.0e-07, acting as a dynamic support level during the consolidation phase. Price remains above the 200-period MA on the daily chart, indicating a longer-term uptrend.

MACD & RSI

MACD crossed into positive territory at 07:15 ET and remained bullish, aligning with the price breakout. RSI moved from 50 to 62 during the rally, suggesting moderate momentum without overbought conditions. The index remains in a constructive zone for further gains, provided the 55 RSI level holds.

Bollinger Bands

Volatility expanded as price moved from the lower band to the upper band between 06:45 ET and 07:45 ET. Price closed near the upper band at $9.1e-07, indicating a strong move within a widening range. A contraction in the bands may follow after the breakout, setting up for potential continuation patterns.

Volume & Turnover

Volume spiked at 07:00 ET with 70,299.6 contracts traded, confirming the price breakout. Notional turnover reached $67.65 in this period, the highest of the day. A divergence between volume and price was observed at 09:00–10:00 ET, where price continued to rise but volume remained flat, suggesting potential exhaustion.

Fibonacci Retracements

The recent swing from $8.7e-07 to $9.9e-07 saw price test the 61.8% retracement level at $9.3e-07 and close above it, favoring further upside. On the daily chart, a 38.2% retracement at $9.0e-07 provided support during the morning hours. Price now appears to be testing the 78.6% retracement at ~$9.4e-07.

Backtest Hypothesis

A potential backtest could focus on identifying the bullish engulfing pattern on the 15-minute chart for MANTRA/Bitcoin. Given the pattern observed at 07:00 ET, combined with strong volume and a favorable RSI reading, a strategy could be designed to enter long positions upon confirmation of the pattern with a stop just below the 50-period MA. This approach aligns with the observed price behavior and could be tested across similar tickers showing similar formation structures and volume dynamics.