Market Overview for Manta Network/Bitcoin (MANTABTC) on 2025-11-08

Summary
• Price opened at $1.09e-06 and closed at $1.06e-06 after a $1.17e-06 high and $1.05e-06 low.
• Volatility surged in the 18:00–20:00 ET timeframe with multiple attempts to break above $1.16e-06.
• Total volume reached 168,146.4 with $189.1 in turnover, highlighting mixed buyer-seller momentum.
• The 15-minute chart showed bearish engulfing and inside bar patterns during the final 4.5 hours.
• RSI and MACD hinted at weakening momentum, suggesting caution on further downside.

Opening and Price Behavior

Manta Network/Bitcoin (MANTABTC) opened at $1.09e-06 on 2025-11-07 at 12:00 ET and closed at $1.06e-06 on 2025-11-08 at the same time. During the 24-hour period, the pair reached a high of $1.17e-06 and a low of $1.05e-06. The total traded volume was 168,146.4, with notional turnover at $189.1. These figures reflect a volatile 24-hour session with significant intraday swings.

Structure and Candlestick Patterns

The 15-minute candlestick chart revealed several key patterns. A bearish engulfing pattern formed around 15:30–16:00 ET as the price opened at $1.08e-06 and closed at $1.06e-06 after reaching $1.08e-06. This suggests a shift in sentiment toward the bears. Later, inside bars appeared between 14:45–15:30 ET, which typically indicate a temporary pause in momentum and a potential reversal point. A doji at 09:00 ET on 2025-11-08 also signaled indecision in the market.

Moving Averages and MACD

The 20-period and 50-period moving averages on the 15-minute chart were relatively flat during the session, with the price oscillating between the two. This suggests a lack of strong directional bias. The MACD line crossed below the signal line twice during the session—first at 17:30 ET and again at 21:30 ET—confirming bearish momentum. The histogram showed a consistent decline from the high at 19:30 ET onward, reinforcing the bearish trend.

Relative Strength Index and Bollinger Bands

The RSI hit overbought territory at $1.14e-06 around 18:30 ET but failed to hold above that level, dropping below 50 by 21:45 ET. This suggests waning bullish momentum. Bollinger Bands displayed expansion during the peak volatility periods, particularly between 17:30 and 19:00 ET. The price spent most of the session in the lower half of the bands, suggesting a continuation of the bearish trend.

Volume and Turnover Divergence

Volume spiked several times during the session, notably at 17:30, 18:30, and 21:30 ET, coinciding with price declines. However, the corresponding turnover did not match these spikes, indicating possible divergences in price and volume action. This divergence could signal that large-volume trades were not accompanied by strong conviction from traders, suggesting caution in interpreting the bearish move as a definitive trend.

Fibonacci Retracements and Key Levels

Applying Fibonacci retracement to the 24-hour range from $1.05e-06 to $1.17e-06, the key levels to watch are:
- 23.6% retracement at $1.13e-06
- 38.2% retracement at $1.12e-06
- 50% retracement at $1.11e-06
- 61.8% retracement at $1.10e-06

The price briefly tested the 38.2% and 50% levels during the day but failed to hold above them. This indicates that key Fibonacci resistance levels may act as a ceiling in the near term, especially if buying pressure does not increase.

Backtest Hypothesis

To refine the backtesting strategy for MANTA/BTC, it is essential to clarify the exact exchange and timeframe to use for the RSI calculation. For instance, selecting Binance or KuCoin will yield different price series and liquidity dynamics. The time frame (e.g., 4-hour or daily) and RSI period (e.g., 14 or 28) will also influence the strategy's sensitivity and signal quality. Once these parameters are fixed, the backtest can identify how often the pair traded below RSI 30 and what the subsequent performance was.

Outlook and Risk

Looking ahead, the price of MANTA/BTC could test the $1.05e-06 level, which was the session’s low, as a support area. However, the bearish momentum and lack of strong support levels above $1.08e-06 raise concerns about further declines. Traders should monitor the 15-minute MACD for signs of bearish continuation and the RSI for overbought or oversold conditions. As always, risk management is crucial given the high volatility and thin liquidity often associated with smaller altcoin pairs.