$MANTA

Trading pair MANTA/USDT

1. Bollinger Bands

• The current price is fluctuating near the lower band of the Bollinger Bands.

• This indicates that the market may be oversold and there is a potential for a short-term recovery.

• However, the upper band is still expanding, which may continue to push prices lower.

2. Ichimoku Cloud

• The Ichimoku cloud is red and the price is below the cloud, confirming that the downtrend is still in effect.

• The Chikou Span line (green line) is below the current price, supporting the bearish signal.

3. Stochastic RSI

• The Stochastic RSI line has crossed into the oversold region and is trending upward.

• This is a potential signal for a short-term recovery.

• However, further confirmation from other indicators is needed.

4. MACD

• The MACD line is below the signal line (orange), indicating a downtrend.

• The histogram is still in the negative zone but shows signs of narrowing, suggesting that the downward momentum may be weakening.

Forecast & Trading Strategy

Scenario 1: Short-term price recovery

• If the price breaks above the average of the Bollinger Bands and the Stochastic RSI continues to rise, the price could recover to the $0.42 - $0.45 range.

• Traders may look for entry points for short-term buy orders when the MACD crosses up or when the Stochastic RSI remains above 50.

Scenario 2: Continued deep decline

• If the price is rejected at the middle band of the Bollinger Bands and the MACD shows no reversal signals, the downtrend may continue.

• The next target could be $0.35 or lower.

• Traders may consider entering sell orders when the price is rejected at the resistance level.