Is It Too Late to Buy Manta? MANTA Price Blasts Up as Meme Coin Traders Shift Funds to This New Coin
Promising layer-2 zkEVM Manta Network has seen its native token MANTA blast up in a dramatic rally.
Given the rise, many are now asking whether it’s too late to buy Manta?
The substantial price move has seen MANTA price hammer-up to a new all-time high, fresh off the back of an impressive ascent that has seen MANTA replace BASE as the fourth largest L2 scaling solution.
$manta next leg up to 5$ loading ……… https://t.co/2OUyATVfsb pic.twitter.com/FWrIc5PnJQ
— KNIGHT $INJ TO 100$ (@cryptoknight890) January 25, 2024
Trader sentiment is now incredibly high, especially behind zkEVM technology, with prominent figures calling for MANTA to launch up to a whopping $5 on the short-time frame.
As price retraces from the new all-time high, MANTA is currently trading at a market price of $3.04 (representing 24-hours of -6.35%).
This comes after price hammered up to $3.33 in an impressive +38% push across 48-hours from 20DMA support (now stood at $3.10).
However, the minor -8.20% retracement move has since seen MANTA price retrace below the 20DMA.
Yet, in a show of technical strength, the downside move avoids a significant risk of free-fall due to an impressive bullish pendant structure between the upper and lower trendline.
In a further sign of positivity, MANTA’s price retracement has left the RSI indicator cooling down, with a current near neutral signal at 56.85 – suggesting MANTA price could still push up from here.
The minor bearish divergence remaining in the RSI is matched by confirmation from minor bearish divergence in the MACD at -0.026, suggesting price is likely to push down to the lower trendline.
Overall, despite minor retracement confirmed by indicators, a bullish pendant pattern suggests this is just the start of an impressive
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