MANTA/USDT is showing clear signs of weakness on the H4 timeframe as multiple technical indicators agree on a downward trend.
1. Ichimoku:
• Price has broken below the Kumo cloud, confirming a breakdown signal from an important support area.
• Tenkan-sen (blue) has crossed below Kijun-sen (red), creating a bearish crossover pattern.
• Price is below the entire cloud structure → sellers are in control of the market.
2. Bollinger Bands:
• The current price candle is closely hugging the lower band of the Bollinger Bands → a sign of panic selling.
• The bands are slightly widening, indicating that volatility is increasing in a negative direction.
3. Stochastic RSI:
• The %K line (orange) and %D line (green) are deep in the oversold zone (<20) and continue to plunge downwards → no signs of a bottom yet.
4. MACD:
• The MACD line has crossed below the Signal line, and the histogram is expanding into negative territory.
• Decreasing momentum is increasing, confirming that selling pressure remains dominant.
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Summary:
• Short-term trend: Decreasing
• Strategy: Do not catch the bottom. Look for a technical pullback towards the cloud or the middle Bollinger band to short further.
• Near support: $0.210 – $0.205
• Near resistance: $0.225 – $0.230 (lower Kumo cloud)
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Note: Not investment advice. Risk management is a vital factor in any trading strategy.
