Manta Network’s token rose 15% to $2.78 in 24 hours. A 40% increase in trade volumes indicates increased altcoin interest and bullish activity. The comprehensive 1-hour chart implies volatility as investors consider this spike.
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Technical Analysis Points to Potential Decline
The 1-hour chart for MANTA/USDT shows a trading channel that has limited the token’s price since January 18. While the channel cannot forecast a bias, it may reveal short-term variations. The token price challenges the resistance line, which might cause an 18% fall in the channel’s support.
The Relative Strength Index (RSI) for MANTA has risen above 70 on the hourly chart, signaling an ‘overbought’ scenario and potential correction. When the RSI crosses 70, traders usually lock in their gains, causing a correction. Despite an overbought RSI, substantial gains can occur, but resistance retest and RSI levels imply a correction before an upward surge.
DeFiLlama reports that Manta Network’s Total Value Locked (TVL) peaked at $440 million on January 23, despite network challenges. MANTA outperformed Cardano, MANTA TVL Boom Sparks 15% Surge in Token Price — Opportune Moment for Investors to Decide: Buy or Sell?Aptos, Sui, and Thorchain in DeFi despite a January 24 fall to $423 million. This rise in TVL suggests investor confidence and readiness to fund MANTA, which could boost token values.
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Investor Dilemma: Buy or Sell?
MANTA Network had issues after listing its governance token. Binance, Bithumb, and KuCoin suffered a targeted DDoS attack on January 18 during their listings. MANTA’s TVL increase suggests the network survived these obstacles due to investor support and tenacity.
As MANTA coin encounters favorable and unfavorable changes, investors must decide. Technical indicators, TVL dynamics, and network resiliency raise the question: Should I buy the surge or sell and safeguard gains? Investors must analyze the elements to make smart crypto investments in this dynamic market.
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