MANTAUSDT.P Analysis: Potential Rebound Opportunities
Daily Chart (1D)
Current Price: 1.58
Bollinger Bands (BB 21, 2):
Lower Band: 1.5142
Middle Band: 1.7121
Upper Band: 1.9101
Broken Support: 1.7112
Resistance: 1.8436
Observations:
The current price is 1.58, which is below the middle Bollinger Band (1.7121), indicating a downward trend.
The price has recently broken below the key support level at 1.7112, which now acts as a resistance.
The nearest resistance level is 1.8436, providing an upward target if a reversal occurs.
4-Hour Chart (4h)
Current Price: 1.58
Bollinger Bands (BB 21, 2):
Lower Band: 1.4170
Middle Band: 1.6571
Upper Band: 1.8973
Support: 1.4916
Resistance: 1.6309
Historical Resistance (7th June 2024): 1.7958
Last Oversold: 7th June 2024, price was below 1.7720
Observations:
The current price is 1.58, which is below the middle Bollinger Band (1.6571), indicating a bearish sentiment.
There is a support level at 1.4916, providing a potential base for a rebound.
The nearest resistance level is at 1.6309, and a historical resistance on 7th June 2024 at 1.7958.
Combined Analysis
Short-Term (4h) Scenario:
Bullish Rebound:
If MANTA can hold above the support level at 1.4916, a potential rebound could target the middle Bollinger Band at 1.6571.
Further strength might push the price towards the resistance at 1.6309 and possibly towards the historical resistance at 1.7958 if bullish momentum continues.
Bearish Continuation:
Failure to maintain above the support level at 1.4916 could lead to further declines, possibly testing the lower Bollinger Band at 1.4170.
Long-Term (1D) Scenario:
Bullish Rebound:
If MANTA can recover and break above the broken support (now resistance) at 1.7112, it could target the middle Bollinger Band at 1.7121 and the resistance at 1.8436.
Sustained bullish momentum could push the price towards the upper Bollinger Band at 1.9101.
Bearish Continuation:
If the price fails to reclaim the 1.7112 level, downward pressure might persist, with the next significant support at the lower Bollinger Band at 1.5142.
Conclusion
Bullish Scenario: In the short term, if MANTA can hold above the support at 1.4916 and recover towards the middle Bollinger Band (1.6571) on the 4-hour chart, it could signal a potential rebound. Long-term, breaking above the resistance at 1.7112 could target the middle Bollinger Band (1.7121) on the daily chart.
Bearish Scenario: A failure to maintain above the 4-hour support at 1.4916 could lead to further declines towards the lower Bollinger Band (1.4170). On the daily chart, continued weakness below 1.7112 might see the price testing the lower Bollinger Band at 1.5142.
Monitoring these key support and resistance levels, along with Bollinger Band movements, will provide insights into the potential direction of MANTAUSDT.P's price action.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Trading cryptocurrencies involves significant risk, and you should consult with a qualified financial advisor before making any investment decisions.
Current Price: 1.58
Bollinger Bands (BB 21, 2):
Lower Band: 1.5142
Middle Band: 1.7121
Upper Band: 1.9101
Broken Support: 1.7112
Resistance: 1.8436
Observations:
The current price is 1.58, which is below the middle Bollinger Band (1.7121), indicating a downward trend.
The price has recently broken below the key support level at 1.7112, which now acts as a resistance.
The nearest resistance level is 1.8436, providing an upward target if a reversal occurs.
4-Hour Chart (4h)
Current Price: 1.58
Bollinger Bands (BB 21, 2):
Lower Band: 1.4170
Middle Band: 1.6571
Upper Band: 1.8973
Support: 1.4916
Resistance: 1.6309
Historical Resistance (7th June 2024): 1.7958
Last Oversold: 7th June 2024, price was below 1.7720
Observations:
The current price is 1.58, which is below the middle Bollinger Band (1.6571), indicating a bearish sentiment.
There is a support level at 1.4916, providing a potential base for a rebound.
The nearest resistance level is at 1.6309, and a historical resistance on 7th June 2024 at 1.7958.
Combined Analysis
Short-Term (4h) Scenario:
Bullish Rebound:
If MANTA can hold above the support level at 1.4916, a potential rebound could target the middle Bollinger Band at 1.6571.
Further strength might push the price towards the resistance at 1.6309 and possibly towards the historical resistance at 1.7958 if bullish momentum continues.
Bearish Continuation:
Failure to maintain above the support level at 1.4916 could lead to further declines, possibly testing the lower Bollinger Band at 1.4170.
Long-Term (1D) Scenario:
Bullish Rebound:
If MANTA can recover and break above the broken support (now resistance) at 1.7112, it could target the middle Bollinger Band at 1.7121 and the resistance at 1.8436.
Sustained bullish momentum could push the price towards the upper Bollinger Band at 1.9101.
Bearish Continuation:
If the price fails to reclaim the 1.7112 level, downward pressure might persist, with the next significant support at the lower Bollinger Band at 1.5142.
Conclusion
Bullish Scenario: In the short term, if MANTA can hold above the support at 1.4916 and recover towards the middle Bollinger Band (1.6571) on the 4-hour chart, it could signal a potential rebound. Long-term, breaking above the resistance at 1.7112 could target the middle Bollinger Band (1.7121) on the daily chart.
Bearish Scenario: A failure to maintain above the 4-hour support at 1.4916 could lead to further declines towards the lower Bollinger Band (1.4170). On the daily chart, continued weakness below 1.7112 might see the price testing the lower Bollinger Band at 1.5142.
Monitoring these key support and resistance levels, along with Bollinger Band movements, will provide insights into the potential direction of MANTAUSDT.P's price action.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Trading cryptocurrencies involves significant risk, and you should consult with a qualified financial advisor before making any investment decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.