Market Overview: Manta Network/Bitcoin (MANTABTC) – 2025-10-10

• MANTA/BTC formed a bullish rally early, reaching 1.52e-06 before consolidating.
• Price found support near 1.48e-06, forming a potential base ahead of a breakout.
• Volatility expanded in the final hours, with volume increasing during key price levels.
• RSI signaled overbought conditions near 1.52e-06, suggesting potential pullback risk.
• Bollinger Bands constricted mid-day, indicating a period of consolidation before the breakout.

Manta Network/Bitcoin (MANTABTC) opened at 1.44e-06 (12:00 ET−1), rose to a high of 1.53e-06, and closed at 1.52e-06 (12:00 ET) with a low of 1.44e-06. Total volume for the 24-hour period was 96,549.9 units, with a notional turnover of $146.73 (assuming $64,000 BTC).

Structure & Formations

The MANTA/BTC pair showed a distinct bullish structure following a consolidation phase, forming a small ascending triangle from 1.48e-06 to 1.52e-06. A key breakout candle at 1.52e-06 displayed strong buying pressure, although a bearish retracement in the final 2 hours suggests a possible pullback. A doji at 1.53e-06 in the early afternoon signaled indecision, hinting at a potential top. Support levels appear to be forming around 1.48e-06 and 1.47e-06, while resistance could emerge at 1.52e-06 and 1.53e-06.

Moving Averages

On the 15-minute chart, the 20-period SMA was above the 50-period SMA for much of the session, indicating a bullish bias. The daily timeframe saw the 50-period SMA crossing above the 200-period SMA, forming a golden cross, which may reinforce long-term bullish momentum. However, the 50/100 EMA crossover on the 15-minute chart suggests caution for near-term traders.

MACD & RSI

MACD showed a strong bullish crossover during the morning session, aligning with the breakout to 1.52e-06. However, the histogram flattened during the afternoon, indicating waning momentum. RSI reached overbought territory (above 70) near the high of 1.52e-06, suggesting a potential pullback into 1.51e-06 or 1.50e-06. A return below 50 on RSI would signal a loss of bullish momentum.

Bollinger Bands

Bollinger Bands constricted during the early morning hours, indicating a period of consolidation. Price then broke above the upper band in the early afternoon, suggesting strong volatility. The price subsequently remained close to the upper band, implying ongoing bullish pressure. A retest of the lower band at 1.48e-06 in the final hours suggests a potential support level that could either hold or be broken.

Volume & Turnover

Volume spiked during the morning rally toward 1.52e-06 and again during the late afternoon retracement, confirming both bullish and bearish movements. Notional turnover showed a significant increase during the key breakouts, indicating increased liquidity and participation. However, the volume was relatively low during the doji at 1.53e-06, suggesting lack of conviction in the move higher.

Fibonacci Retracements

Fibonacci levels on the 15-minute chart placed key retracement levels at 1.50e-06 (38.2%), 1.49e-06 (50%), and 1.48e-06 (61.8%). The 1.52e-06 high saw a strong rejection from the 61.8% level of the previous consolidation, suggesting potential for a pullback to the 1.49e-06 level before further bullish moves.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions when price breaks above the 15-minute 20 EMA with a volume spike, and closing positions when RSI falls below 50 or when price retests the lower Bollinger Band. This strategy aligns with the observed bullish breakout and confirmation through strong volume and momentum indicators. The doji at 1.53e-06 could also serve as a signal to reduce exposure or set a tight stop loss, as it suggests uncertainty in the market’s direction.