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 Crude Oil Price Forecast: Could Oil Return Above $100 as US-Iran Conflict Escalates Further?As of the Asian session on September 8, WTI crude oil prices (USOIL) continued to fluctuate at high levels, with the latest price trading higher near $92.30, up 1.2% on the day after touc
Author  TradingKey
9 hours ago
As of the Asian session on September 8, WTI crude oil prices (USOIL) continued to fluctuate at high levels, with the latest price trading higher near $92.30, up 1.2% on the day after touc
placeholder
AUD/USD climbs for a fourth day to 0.7218 as Fed-hike bets fail to lift the dollar; RBA speakers and US CPI now in focusThe Australian dollar has risen for four straight sessions toward 0.72 even after August nonfarm payrolls far exceeded expectations and pushed September Fed-hike odds to 58.4%. A thin, holiday-thinned dollar is the short-term driver; Westpac confidence and RBA speakers today, US PPI/CPI this week and the Sept 15-16 FOMC will decide whether the rally holds.
Author  Irene Q.
12 hours ago
The Australian dollar has risen for four straight sessions toward 0.72 even after August nonfarm payrolls far exceeded expectations and pushed September Fed-hike odds to 58.4%. A thin, holiday-thinned dollar is the short-term driver; Westpac confidence and RBA speakers today, US PPI/CPI this week and the Sept 15-16 FOMC will decide whether the rally holds.
placeholder
Japanese Yen rallies to February 18 high as upbeat wage data and GDP lift BoJ hike betsThe USD/JPY pair declines for the second straight day – also marking the fourth day of a fall in the previous five – and sinks to its lowest level since February 18, around mid-153.00s during the Asian session on Tuesday.
Author  FXStreet
17 hours ago
The USD/JPY pair declines for the second straight day – also marking the fourth day of a fall in the previous five – and sinks to its lowest level since February 18, around mid-153.00s during the Asian session on Tuesday.
placeholder
Crude Oil Price Forecast: Escalating US-Iran Tanker Attacks and Strait of Hormuz Risks Push Brent to $120? International oil prices continued to climb on Monday, extending their strong performance from the previous week.As military confrontations between the U.S. and Iran heat up again in and
Author  TradingKey
Yesterday 10: 35
International oil prices continued to climb on Monday, extending their strong performance from the previous week.As military confrontations between the U.S. and Iran heat up again in and
placeholder
Hot August jobs report reignites Fed-hike bets; S&P 500 slips below 7,700 — what to watch before the September FOMCAugust nonfarm payrolls surged to 162,000, three times the consensus, pushing CME FedWatch odds of a September 25-bp hike to 58.4% and dragging the S&P 500 below 7,700. CPI, PPI and the Sept 15-16 FOMC decision now set the tone for US stocks.
Author  Irene Q.
Yesterday 06: 42
August nonfarm payrolls surged to 162,000, three times the consensus, pushing CME FedWatch odds of a September 25-bp hike to 58.4% and dragging the S&P 500 below 7,700. CPI, PPI and the Sept 15-16 FOMC decision now set the tone for US stocks.
goTop
quote