Market Overview for MANTRA/Bitcoin (OMBTC) on 2025-11-08

Summary
• MANTRA/Bitcoin edged lower, closing near its 24-hour low at $0.00096.
• Volatility dipped mid-day but spiked late in the session as price found support.
• Volume surged during late-ET and early-ET hours, confirming bearish pressure.

At 12:00 ET on 2025-11-08, MANTRA/Bitcoin (ticker: OMBTC) opened at $0.00096, reached a high of $0.00099, and closed at $0.00096 after hitting a low of $0.00094 during the 24-hour window. The total volume was 236,725.3 units, and the notional turnover was approximately $228.30, as calculated using the product of price and volume.

Structure & Formations

Price tested a descending triangle pattern during the morning hours, breaking below its lower boundary in late-ET. A small bearish engulfing candle formed around 6:15 ET, confirming the breakdown. A key support level appears to be forming near $0.00095–$0.00096, with some consolidation forming here.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have both trended downward, reflecting a short-term bearish bias. The price is below both, reinforcing the downtrend. On the daily chart, the 50-day MA remains above the 200-day MA, suggesting a more neutral to slightly bullish longer-term stance.

MACD & RSI

The MACD crossed below the signal line in the mid to late hours of the trading day, indicating fading momentum. The RSI stands at ~35, showing a slight oversold condition. However, without a reversal in price or volume, a bounce may not be sustainable.

Bollinger Bands

Price spent much of the session near the lower band of the Bollinger Bands, suggesting compressed volatility and a bearish environment. A potential bounce from the lower band might occur, but a break below could target $0.00094 as a new support level.

Volume & Turnover

Volume spiked during late-ET and early-ET, particularly around 16:15–17:15 ET and 00:15–02:15 ET, with high notional turnover in these periods. Price and volume acted in tandem during these times, reinforcing the bearish move. However, a lack of volume in the afternoon suggests weak follow-through.

Fibonacci Retracements

On the 15-minute chart, the recent $0.00099–$0.00096 swing shows price currently resting near the 38.2% Fibonacci retracement level. On the daily chart, $0.00096 appears to sit near the 61.8% level of a previous upward correction, suggesting a potential pause in the bearish trend.

Backtest Hypothesis

To evaluate the impact of “MACD bottom-divergence” events on MANTRA/Bitcoin, a backtest could be performed using OMBTC's historical data from 2022-01-01 to 2025-11-08. A bottom-divergence is defined as a lower low in price with a higher low in the MACD histogram, signaling potential short-term reversal. The backtest would assess how frequently these divergences lead to measurable price rebounds, and whether incorporating them into a buy strategy improves returns when compared to a buy-and-hold baseline.