Anticipating a MANTAUSDT Crash: Could the Downside Exceed 60%?
Updated
Hi Realistic Traders, let's delve into the technical analysis of 
MANTAUSDT !
On the Daily timeframe, MANTAUSDT is presenting a clear double-top pattern, a classic bearish signal indicating a potential reversal from an uptrend to a downtrend. The recent breakout of the neckline, paired with a surge in volume above the volume MA line, amplifies the downward momentum. With the MACD Indicator firmly in the negative zone, the stage is set for continued downside movement, targeting our first target at 1.107. Once achieved, we anticipate a revisit to the neckline or the pullback zone before the bearish bias extends towards our second target at 0.788, the 2.618 Fibonacci ratio.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on CADJPY."
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MANTAUSDT !On the Daily timeframe, MANTAUSDT is presenting a clear double-top pattern, a classic bearish signal indicating a potential reversal from an uptrend to a downtrend. The recent breakout of the neckline, paired with a surge in volume above the volume MA line, amplifies the downward momentum. With the MACD Indicator firmly in the negative zone, the stage is set for continued downside movement, targeting our first target at 1.107. Once achieved, we anticipate a revisit to the neckline or the pullback zone before the bearish bias extends towards our second target at 0.788, the 2.618 Fibonacci ratio.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on CADJPY."
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below
Trade active
MANTAUSDT: on the H4 timeframe, the price still moves below the necklineNote
Cannot move above the trendline, Still hold the same perspective as beforeNote
not much movement in the altcoins market, what ;s going on here? Is everyone waiting for the Non Farm Payroll Data?
Note
Breakout Distribution Phase: A sign for making new low/continuing its downtrendNote
as you can see after a pullback, just a bit more to hit the first target. We still see a possible downside movement as the bearish trend still prevails.Trade closed: target reached
Target 1 Achieved, I think it will go lower than $1Trade closed: target reached
You can look at the chart, it is going down rapidly. Congrats for those who placed the short order on MANTAUSDT. See ya in the next forecast
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