Market Overview for Manta Network/Bitcoin (MANTABTC) – October 9, 2025

• MANTA/BTC traded in a narrow range, with a slight bearish bias in the final hours.
• Price briefly pushed to 1.51e-6 before retracting, forming a potential top reversal pattern.
• Volume remained low during early trading but spiked after 19:00 ET, suggesting increased activity.
• RSI shows no extreme overbought or oversold conditions, indicating moderate momentum.
• Bollinger Bands constricted mid-day before expanding as price tested upper band levels.

Price and Volume Summary

The Manta Network/Bitcoin (MANTABTC) pair opened at 1.46e-6 on October 8 at 12:00 ET, reached a high of 1.51e-6, and closed at 1.44e-6 on October 9 at 12:00 ET. The 24-hour total volume was approximately 119,664.1 MANTA, with a notional turnover of 0.1734 BTC based on average trade size.

Structure & Formations

Price action over the past 24 hours showed a range-bound pattern with a key resistance at 1.51e-6 and a support level forming around 1.44e-6. A bearish harami pattern formed near 1.51e-6 as price closed lower after a brief spike. A doji appeared at 1.49e-6 during the 02:00 ET timeframe, indicating indecision. The price appears to have found a near-term floor at 1.44e-6 after several retests.

MACD & RSI

The 12-period MACD showed a slight bearish crossover around 19:30 ET, with a negative histogram trend after a bullish build-up earlier in the day. The RSI hovered between 45 and 55 for most of the 24 hours, suggesting no strong overbought or oversold conditions. A bearish divergence formed around 02:00 ET as price made a new high but RSI did not, indicating weakening bullish momentum.

Bollinger Bands

Bollinger Bands constricted during the early part of the day, signaling a period of consolidation. Volatility expanded after 18:00 ET as price tested the upper band, breaking above 1.50e-6 before retracting. Price closed near the midline of the bands at 1.44e-6, indicating a possible continuation of range trading.

Volume & Turnover

Trading volume remained subdued until 19:00 ET, after which it spiked sharply due to large-volume candlesticks around 1.50e-6. The highest volume candle occurred at 19:45 ET with a volume of 7468.3 MANTA. Notional turnover increased in tandem with the price action, suggesting genuine demand and supply pressures rather than wash trading. A divergence in price and volume was observed at 02:00 ET when volume dropped but price continued lower.

Fibonacci Retracements

Using the key 15-minute swing from 1.46e-6 to 1.51e-6, price retested the 61.8% level at 1.487e-6 before falling to the 38.2% level at 1.478e-6. The daily move from 1.46e-6 to 1.51e-6 saw a retest of the 50% Fib level around 1.485e-6, where price stalled and reversed. These levels may act as support and resistance in the near term.

Backtest Hypothesis

Given the observed behavior at key Fibonacci and Bollinger Band levels, a potential backtesting strategy involves entering short positions on a break below the 1.44e-6 support, with a stop just above 1.45e-6 and a target at 1.42e-6. Long entries could be triggered on a retest of the 1.48e-6 Fib level with a stop below 1.47e-6. This strategy aligns with the bearish MACD divergence and the doji at 1.49e-6, which signals potential reversal points. The recent volume spikes at key price levels also validate the strategy's potential efficacy.