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Manta Network Price Prediction: MANTA Plunges 15% As Analysts Say This Booming ICO Might Be The Best Crypto To Buy Now

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MANTA Network price
MANTA Network price

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The Manta Network price plunged 15% in the past 24 hours to trade for $2.9362 as of 1:30 a.m. EST time on trading volume that climbed 7%.

The slump caught some traders off guard. Nevertheless, perpetual traders continue to ride the Manta Network price actions, with optimists anticipating more gains despite the correction.

Meanwhile, the token remains among January’s top gainers, standing alongside Pendle (PENDLE), Sui (SUI), Ronin (RON), and Celestia (TIA).

Manta Price Outlook

The Manta Network price is trading with a bearish bias, with the price action sending the altcoin outside the confines of the ascending parallel channel. Momentum continues to fade as seen with the falling Relative Strength Index (RSI).

The Moving Average Convergence Divergence (MACD) and the Awesome Oscillator (AO) indicators have their histogram bars flashing red in negative territory. Furthermore, both the RSI and the MACD are moving below their respective signal lines, solidifying the case for the bears.

Enhanced seller momentum could see the Manta Network price lose the immediate support at $2.8194.  A break below this buyer congestion level could see MANTA test the $2.6024 support.

In the dire case, the altcoin’s market value could dwindle all the way to the demand zone between $2.2073 and $2.3500. A break and close below the midline of this order block at $2.2781 would confirm the continuation of the downtrend.

For more information, check out our Manta Price Prediction guide.

MANTA

TradingView: MANTA/USDT 4-hour chart

Converse Case

On the flipside, if the bulls come back to the scene, the Manta Network price could push north to confront the 50-day Simple Moving Average (SMA) at $3.3253. An extended move by the bulls could see the altcoin foray into the channel, or in highly bullish cases, extend a neck higher to test its midline at $3.3544.

In a highly bullish case, the Manta Network price could extend the gains to reclaim the range high at $3.8900, standing 20% above current levels. This would constitute nearly 30% in gains above current levels.

Check out our guide on how to buy Mantra Network token this year.

It is worth mentioning that the position of the RSI below 30 suggests MANTA is oversold. This often suggests an impending correction, adding credence to the bullish supposition. Already, the RSI shows signs of deviating from its predominant southbound move, which also tilts the odds in favor of the upside.

Meanwhile, analysts say Sponge V2, a booming ICO, could be the best crypto to buy now.

Promising Alternative To MANTA

Sponge V2 takes the stage as the latest meme coin sensation. It builds on the success of its predecessor, Sponge V1, which made headlines during the May 2023 season with 100X gains after launch.

Sponge V2 takes the baton from the achievements of Sponge V1. It also brings forth better features and increased value for token holders. Among them is staking, providing an opportunity to earn passive rewards.

This meme coin presale continues to break records despite a gloomy market for altcoins. Analysts say it is among the best meme coins with the potential for exponential gains. Sponge V2 is also among the top three presales to buy in 2024 and passes among the strongest contenders in the meme coin space with Crypto YouTuber Jacob Bury saying it has the potential to 100X on launch.

The token is committed to surpassing the achievements of Sponge V1, with forward-looking investors already showing support. They are drawn to the project’s new features and benefits for token holders, with fast-moving traders already capitalizing on the new avenues. These include:

  • Exploring iconic locales
  • Navigating thrilling obstacle courses, and
  • Potentially unlocking lucrative rewards

The project introduces a unique token distribution method, Stake-to-Bridge, where users stake their older tokens for the new version. The staking function has received massive support, with upwards of 6.561 billion tokens already staked. The holders enjoy an impressive annual percentage yield (APY) of over 246%.

Sponge stake
New entrants into the Sponge V2 ecosystem can acquire the tokens through the website using ETH, USDT, or a credit card.

For more information, or to buy Sponge V2, visit the website here.

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