Market Overview: Manta Network/Bitcoin (MANTABTC) – 2025-09-18

• Price action remained contained within a tight range, with MANTABTC hovering near 1.90e-6.
• Volatility dipped during overnight hours before a late surge into 1.93e-6.
• Key resistance levels formed at 1.92e-6 and 1.93e-6.
• Notional turnover spiked during midday ET, aligning with higher price movement.
• Momentum indicators suggested overbought conditions toward the close.

The Manta Network/Bitcoin (MANTABTC) pair opened at 1.82e-6 at 12:00 ET-1, reached a high of 1.93e-6, and closed at 1.89e-6 by 12:00 ET. The 24-hour volume totaled 237,734.6 units, with notional turnover reflecting strong liquidity during key price levels.

Over the past 24 hours, MANTABTC has shown a range-bound profile, consolidating within a 1.81e-6 to 1.93e-6 range. Price tested key resistance levels at 1.93e-6 and 1.92e-6 multiple times, with rejection observed during overnight hours. A bearish engulfing pattern emerged on the 15-minute chart around 03:30 ET, indicating a potential short-term reversal. A bullish engulfing pattern followed later in the afternoon as the price rebounded off support at 1.89e-6.

Moving averages on the 15-minute chart suggest a neutral-to-bullish bias, with the 20-period MA supporting higher prices. The 50-period MA crossed above the 20-period MA in the afternoon, signaling a bullish crossover. On the daily chart, the 50-period MA currently supports the price near 1.89e-6, while the 200-period MA acts as a key long-term trend reference point.

Momentum indicators show a mixed picture. RSI peaked near 61.8 on the 15-minute chart during the afternoon rally, indicating potential overbought conditions. MACD showed a bullish divergence in the early morning followed by a bearish crossover after 03:00 ET, suggesting a possible retest of support levels ahead.

Bollinger Bands reflected tightening volatility overnight before expanding midday as the price approached the upper band. The price closed near the upper band, suggesting a possible continuation into the next session if the trend holds.

Volume spiked notably during the morning and afternoon hours, coinciding with key price swings. A divergence between higher prices and uneven volume distribution suggests mixed conviction in the current rally. Turnover spiked during the 17:45–18:30 ET window as the pair tested key resistance levels.

Fibonacci retracements on the most recent swing high to low show 38.2% retracement at 1.91e-6 and 61.8% at 1.89e-6. The current price of 1.89e-6 aligns closely with this key support, increasing the likelihood of a bounce or consolidation phase ahead.

MANTABTC appears poised for a consolidation phase following the recent rally. Traders should watch for a break above 1.93e-6 or a retest of 1.89e-6. A sustained move above 1.93e-6 could target 1.94e-6, while a break below 1.89e-6 may open the door to 1.88e-6. Position sizing should be cautious in light of mixed momentum and volume signals.

Backtest Hypothesis

A potential strategy for MANTABTC could involve entering long positions after a bullish engulfing pattern forms near key Fibonacci levels (e.g., 61.8% retracement) and a bullish crossover in the MACD. Stop-loss orders could be placed below the previous swing low, while profit targets would be aligned with the next Fibonacci level or the upper Bollinger Band. A backtest of this approach over a 30-day period would help assess its viability under varying volatility and volume conditions.