Market Overview: Manta Network/Bitcoin (MANTABTC) — September 25, 2025

• Price declined from 1.67e-06 to 1.6e-06 amid low volume and bearish momentum.
• RSI and MACD suggest oversold conditions, hinting at potential short-term bounce.
• Volatility remained compressed within Bollinger Bands, signaling a quiet market phase.
• Volume surged during sharp downward moves, confirming bearish bias.
• Fibonacci retracement levels at 1.62e-06 and 1.59e-06 may serve as support and resistance.

Manta Network/Bitcoin (MANTABTC) opened at 1.67e-06 on 2025-09-24 at 12:00 ET and closed at 1.6e-06 on 2025-09-25 at 12:00 ET, with a high of 1.67e-06 and a low of 1.56e-06. Total trading volume over the 24-hour period was 124,868.8, while notional turnover stood at approximately 199.42 (assuming BTC-based volume in USD). The pair has remained range-bound with weak bullish participation.

Structure & Formations

Over the past 24 hours, MANTABTC exhibited a bearish bias with a key resistance level forming around 1.64e-06–1.67e-06 and a critical support level consolidating near 1.6e-06. A notable bearish engulfing pattern appeared around 2025-09-25 02:30 ET, confirming a short-term reversal from a minor rally. A doji near 1.62e-06 suggested indecision, but bearish follow-through emerged shortly after. Price has remained within a descending channel, with no clear breakout observed.

Moving Averages

Short-term moving averages (20/50) on the 15-minute chart have been bearishly aligned, with the 20-period MA crossing below the 50-period MA to form a death cross. Longer-term averages (100/200 daily) suggest a more neutral stance, indicating the bearish bias is primarily short-term. This divergence suggests the trend may not yet be fully aligned with daily cycle indicators, but the intraday momentum remains firmly bearish.

MACD & RSI

The MACD line has been below the signal line, with both moving downward toward oversold territory, reflecting weak momentum. The RSI has been in the 30–40 range for most of the 24-hour window, indicating oversold conditions. While this may hint at a temporary bounce, the bearish momentum has not reversed. A close above 1.63e-06 would be needed to confirm a meaningful shift in sentiment.

Bollinger Bands

Volatility has been relatively compressed, with price staying near the middle band for most of the period. A brief expansion occurred during a dip to 1.56e-06, with price touching the lower band. This suggests a temporary oversold bounce may occur, but the lack of a clear break above the upper band indicates that the pair remains in a consolidation phase. Further expansion may occur if price breaks out of the current range.

Volume & Turnover

Trading volume increased significantly during sharp price declines, particularly between 2025-09-25 02:00 and 05:00 ET, confirming bearish sentiment. However, volume during upward moves has been weak, indicating a lack of conviction on the buy side. Notional turnover followed a similar pattern, with higher turnover aligning with bearish price action. Divergences between volume and price are minimal, suggesting that the move down has strong participation.

Fibonacci Retracements

Applying Fibonacci retracements to the most recent 15-minute swing from 1.67e-06 to 1.6e-06, key levels lie at 38.2% (1.64e-06) and 61.8% (1.62e-06). These levels appear to be acting as both support and resistance. On the daily chart, retracements from the prior high suggest 1.6e-06 as a significant support level. If price fails to hold above 1.62e-06, a retest of 1.59e-06 could be expected.

Backtest Hypothesis

The proposed backtesting strategy involves entering long positions on a RSI crossover above 40 and a close above the 20-period MA on the 15-minute chart. The strategy also incorporates a stop-loss at the previous swing low and a take-profit at the 38.2% Fibonacci retracement level. This approach aligns with the observed technical indicators, particularly RSI and MA, which have shown potential for a short-term bounce. However, given the bearish momentum and weak buying pressure, this strategy may carry higher risk in the current environment.