MANTA/USDT – Bullish Structure Forming
MANTA is showing early signs of a trend reversal, with multiple confluences indicating strength from the bulls. After a prolonged downtrend, the asset has not only broken key resistance levels but also flipped the 50 EMA, a major dynamic resistance, into support.
✅ Key Technical Highlights:
Double Bottom Formation:
The chart has clearly printed a double bottom, one of the most reliable reversal patterns.
This formation suggests that bears are losing control and buyers are starting to step in with conviction.
Breakout Above the 50 EMA:
Price has decisively broken above the 50 EMA (~0.2127), which had previously acted as dynamic resistance during the downtrend.
Notably, the price retested the 50 EMA and successfully bounced, confirming it now as support.
Resistance Flip to Support:
The previous horizontal resistance zone has been breached and retested, reinforcing its role as a demand zone.
Market Structure Shift:
Lower highs and lower lows have now transitioned into higher lows and higher highs, signaling a structural shift from bearish to bullish.
Momentum and Candle Structure:
The bullish candles post-retest show strong momentum with minimal upper wicks — a sign of buyer strength.
MANTA is showing early signs of a trend reversal, with multiple confluences indicating strength from the bulls. After a prolonged downtrend, the asset has not only broken key resistance levels but also flipped the 50 EMA, a major dynamic resistance, into support.
✅ Key Technical Highlights:
Double Bottom Formation:
The chart has clearly printed a double bottom, one of the most reliable reversal patterns.
This formation suggests that bears are losing control and buyers are starting to step in with conviction.
Breakout Above the 50 EMA:
Price has decisively broken above the 50 EMA (~0.2127), which had previously acted as dynamic resistance during the downtrend.
Notably, the price retested the 50 EMA and successfully bounced, confirming it now as support.
Resistance Flip to Support:
The previous horizontal resistance zone has been breached and retested, reinforcing its role as a demand zone.
Market Structure Shift:
Lower highs and lower lows have now transitioned into higher lows and higher highs, signaling a structural shift from bearish to bullish.
Momentum and Candle Structure:
The bullish candles post-retest show strong momentum with minimal upper wicks — a sign of buyer strength.
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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.
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.