Manta Network broke a key pennant pattern signaling strong buying momentum and a 2x price rally target near $0.66.
Price consolidation around $0.20 to $0.31 formed solid support that led to a breakout supported by increased trading volume.
The breakout moves Manta above $0.32 with resistance levels at $0.35 and $0.66 critical for confirming continued upward momentum.
Manta Network ($MANTA) is showing strong bullish momentum after breaking a key pennant pattern. The breakout indicates a potential 2x price rally soon. This move follows months of consolidation and a significant downtrend reversal. Traders and investors are closely watching as the crypto asset shifts toward a positive trajectory. This marks a crucial point in Manta Network's price action and market sentiment.
Source: X Manta Network's Technical Breakout Signals Strength
After a prolonged downtrend since late 2024, Manta Network price formed a bullish pennant. The pennant appeared as a consolidation phase after a strong upward move. The breakout above this pattern suggests renewed buying pressure and momentum. Price action on Binance shows MANTA trading at $0.324 with recent gains around 6.23%.
The chart shows a clear breakout above resistance near $0.31. The bullish pennant breakout usually forecasts a continuation of the prior uptrend. Here, the projected rally target is roughly 100% higher than current prices, aiming near $0.66. This move aligns with technical analysis theory where breakout height matches the prior price leg.
Market participants note the breakout volume is supporting this move. Volume spikes often accompany key breakouts, confirming strength and trader interest. The pennant formation itself serves as a consolidation, gathering momentum before a significant price surge.
Historical Price Patterns and Support Zones
Manta Network's downtrend stretched over several months, beginning around December 2024. Prices dropped sharply from above $1.50 to lows near $0.13 in early 2025. The subsequent recovery phase saw prices stabilize around $0.20 to $0.30 before forming the pennant.
The chart highlights a crucial support zone around $0.20 to $0.24, which held multiple price tests. This horizontal support helped prevent further declines and laid the foundation for the current recovery. The breakout from the pennant signals a potential reversal in broader market sentiment for Manta.
Technical traders recognize that breaking above a multi-month resistance zone often leads to accelerated price action. The recent breakout marks a shift from consolidation to a possible sustained uptrend. The next resistance levels to watch are around $0.50 and $0.66, matching the measured move targets.
Market Impact and Potential Price Targets
The expected rally following the breakout could see Manta Network prices double from current levels. The breakout measured move indicates a potential 103.94% gain from the breakout point. Achieving this target would mark a significant recovery from early 2025 lows.
Traders should monitor key price levels for signs of profit-taking or continuation. Resistance near $0.35 is a short-term hurdle, while the $0.66 target represents a medium-term objective. Breaks above these points would confirm bullish momentum and invite further buying interest.
