Manta Network (MANTA) is currently exhibiting an upward trend, with its price trajectory positioned above a rising trend line. This positive performance is reflected by its placement between the Bollinger Bands’ upper half and the center line. Despite this uptrend, the Relative Strength Index (RSI) suggests a slowing momentum, hinting at a potential upcoming sell signal if the RSI crosses the signal line downwards.
If the bearish signal is confirmed, MANTA could lose its support at the $3.51 level, potentially leading to a 10% decline from its current price. However, the rising trend line and a horizontal support at $3.25 provide substantial backing, mitigating the potential drop.
Should the market conditions worsen, MANTA may retreat to the $3.07 support level, which would translate to a significant 23% decrease from its current valuation. This scenario underlines the importance of monitoring the token’s support levels closely.
Conversely, with the RSI at 67, there is still room for upward movement before the token reaches the overbought threshold. A surge in buying pressure could propel MANTA’s price past the upper Bollinger Band to $3.80, provided it can break the critical $3.70 mark and set a new high.
Investors are encouraged to stay vigilant of the changing momentum in Manta Network’s price and weigh the bullish and bearish scenarios carefully. This balanced approach is vital for making informed decisions in the volatile cryptocurrency market.