Manta Network Price Prediction: 10% losses likely as MANTA teases with a possible sell signal

Source Fxstreet
  • Manta Network price remains in the upper half of the Bollinger indicator above the centerline at $3.1428.
  • MANTA could fall 10% amid falling momentum, with a pending sell signal on the H2 timeframe.
  • Invalidation of the bearish thesis will occur if the price creates a higher high above $3.5165.

Manta Network (MANTA) price remains broadly bullish, but things could change soon amid falling momentum that teases with a pending sell signal.

Also Read: Top three altcoins trending in crypto social media: Ethereum, Dogecoin, Ondo

Manta price coukl find strong support after a 10% fall

Manta Network price is trading with a bullish bias on the 2-hour timeframe, overperforming above an ascending trendline. It remains in the top half of the Bollinger indicator, between the centerline and the upper band at $4.1428 and $3.3544 levels respective.

Based on the outlook of the Relative Strength Index (RSI), momentum is falling, and could soon record a bearish crossover, cutting through the signal line (yellow band) to the south. With such a crossover deemed a sell signal, the Manta Network price could lose the support offered by the centerline at $3.1428, likely recording a 10% downswing from current levels, to find strong support between the confluence of the ascending trendline and horizontal support at $2.8194.

In the dire case, MANTA price could roll over to the $2.6024 support level, nearly 23% below the current price.

MANTA/USDT 2-hour chart

On the other hand, with the RSI at 61, the price strength is positive with more room north before MANTA can be considered overbought at 70. With this, enhanced buyer momentum could send Manta Network price north, shattering past the upper band of the Bollinger indicator at $3.3544.

For the bearish thesis to be invalidated, however, Manta Network price must clear the range high at $3.5165 and record a higher high above it.

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
WTI rally takes a timeout amid signs of US-Iran war de-escalationWest Texas Intermediate (WTI) Oil futures on NYMEX trade slightly lower to near $71.50 during the European trading session on Friday. The Oil price extends its correction after posting a fresh over two-week high at $75.73 on Wednesday.
Author  FXStreet
Yesterday 10: 10
West Texas Intermediate (WTI) Oil futures on NYMEX trade slightly lower to near $71.50 during the European trading session on Friday. The Oil price extends its correction after posting a fresh over two-week high at $75.73 on Wednesday.
placeholder
Gold recovers above $4,100 as traders assess US-Iran conflict Gold price (XAU/USD) rebounds to around $4,120 during the early Asian session on Friday. The precious metal edges higher as traders weigh a resumption of war in the Middle East.
Author  FXStreet
Yesterday 01: 28
Gold price (XAU/USD) rebounds to around $4,120 during the early Asian session on Friday. The precious metal edges higher as traders weigh a resumption of war in the Middle East.
placeholder
WTI consolidates below $72.00 as traders monitor geopolitical developmentsWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – steadies during the Asian session on Friday, stalling the previous day's downfall amid mixed messaging from the US and Iran.
Author  FXStreet
Yesterday 01: 25
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – steadies during the Asian session on Friday, stalling the previous day's downfall amid mixed messaging from the US and Iran.
placeholder
WTI Crude Oil Price Forecast: US-Iran Conflict Reignites, Will a New Round of Oil Price Rises Begin? As of the Asian session on July 9, after WTI ( USOIL) crude oil prices rebounded sharply for two consecutive trading days, oil prices hovered and adjusted around $73.30 today. From the te
Author  TradingKey
Jul 09, Thu
As of the Asian session on July 9, after WTI ( USOIL) crude oil prices rebounded sharply for two consecutive trading days, oil prices hovered and adjusted around $73.30 today. From the te
placeholder
British Pound strengthens to near 1.3400 as UK political risk fades The GBP/USD pair gathers strength near 1.3395 during the Asian trading hours on Thursday, bolstered by fading domestic political uncertainty.
Author  FXStreet
Jul 09, Thu
The GBP/USD pair gathers strength near 1.3395 during the Asian trading hours on Thursday, bolstered by fading domestic political uncertainty.
goTop
quote