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- 1 MANTA token displays an up move and is waiting to retest the highs of $3.35.
- 2 Buyers have gained traction and are peeking; could bounce soon.
The newly launched token “MANTA” jumped over 3420% this week and is replicating buying momentum on the charts. Moreover, the token reveals the investor interest and will continue to extend the gains. The price action shows that the token is setting a range after its listing on January 18th and did not cross the first candle high of $2.80, which signifies the gain sharing.
Manta is the native and governance token within the MANTA Network ecosystem with a (total Value Locked) TVL of $858 Million. The token forms small candles and is in a range in the last sessions. However, the token is above the significant moving averages and reveals a bullish bias.
This cryptocurrency price was $2.36 at press time, with an intraday gain of 4.03%, showing a bullish outlook. Moreover, the trading volume increased by 45.60% to $330.47 Million, highlighting investor interest. The pair of MANTLE/BTC was noted at 0.0000563 BTC, while the market cap is $2.35 Billion. Analysts are bullish and suggest that the MANTLE token will continue to lift and may escape $3 in the upcoming sessions.
MANTLE on Hourly Chart Displaying Bullishness
The MANTLE token exhibits an upward movement on the hourly chart and is waiting to surpass the latest high of $2.50 to extend the uptrend. However, the token trades above the 61.8% Fib level and is in the accumulation zone. Furthermore, the buying action persists, and soon, the token may climb above the swing hurdle of $3.
The Relative Strength Index (RSI) curve stayed near the midline and displayed a buying momentum on the charts. The trend is bullish, and the token will attain a sharp surge anytime and retest $3.30 soon. Moreover, the MACD indicator showcases a bullish crossover, and forming green bars on the histogram suggests the outperformance for the following sessions.
MANTA Formed Rounding Bottom Pattern on 30 Min Time Frame
On the 30-minute timeframe, the MANTA token exhibits a rounding bottom pattern and faces resistance near $2.50. Moreover, the price action indicates the pullback from the support zone of $2.15 and is again willing to overtake $2.40, followed by $2.60, which is the near-term hurdle.
Summary
MANTA token takes a nap and is sustaining gains above the 20-Day EMA mark, revealing a bullish outlook. Moreover, the trend is intact, and bulls may lift the token above $2.50 and retest $3 soon.
Technical Levels
Support Levels: $2.25 and $2.10
Resistance Levels: $2.60 and $3
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
