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The Manta Network price has soared by 29% in the last 24 hours to hold a spot price of $2.88 as of 10:00 a.m. EST.
Manta Network Price Prediction
Looking at a 2-hour chart for Manta Network (MANTA) against Tether (USDT), we see that the Manta price movement appears to be in the upper band, indicating that the asset is considered to be in the higher price range relative to recent price movements. This could be interpreted as a bullish signal but also a potential for a pullback if the price is perceived as overextended.
The Relative Strength Index (RSI) is around 65, which is closer to the upper bound of 70. An RSI above 70 is typically considered overbought. The current RSI indicates bullish momentum but also suggests caution as it moves close to overbought territory.
Gauging trends, the Awesome Oscillator (AO) is showing green bars above the zero line, which indicates bullish buying pressure. On the other hand, the Average Directional Index (ADX) value is above 30, which generally indicates a strong trend. The higher the ADX value, the stronger the trend. In this case, the trend strength is robust, which could mean that the current trend is likely to continue.
This aligns with the views of Crypto Tony, who says the token has already surpassed its resistance level.
I am back in since $2.69 as we cleared the resistance zone .One of the stronger assets pic.twitter.com/2MhjgrI2Pr
— Crypto Tony (@CryptoTony__) January 24, 2024
Manta Network Price: Caution Advised
Based on these indicators, the market seems to be in a bullish phase with strong trend strength. However, the proximity of the RSI to the overbought territory and the slowing momentum indicated by the AO may suggest that traders should be cautious about potential reversals or pullbacks on the Manta Network price.
2-hour MANTA/USDT chart | Source: TradingView
Meanwhile, as the Manta Network price is now overbought, Sponge V2 is emerging as another compelling alternative. Sponge V2 is ranked among the top meme coin picks for exponential gains and that’s exactly why speculators are flocking to secure the token now.
A Promising Alternative to MANTA
The groundwork is being laid for the eagerly awaited exchange debut of Sponge V2, the successor to Sponge V1. For those who missed the chance to acquire and capitalize on Sponge’s 100X rally in 2023, SpongeV2 presents a last opportunity for participation.
10 exchanges not enough? 😉#SpongeV2 will be listed on BIGGER AND BETTER exchanges! 🔥
You’re not ready for what’s coming next 👀#SpongeV2 #MemeCoin #Presale pic.twitter.com/LdXRYu65Z8
— $SPONGE (@spongeoneth) January 23, 2024
SpongeV1 built a market capitalization exceeding $100 million, lured over 13,000 participants to its platform, and achieved listings on upwards of ten centralized trading venues, including entities such as BitMart, LBank, and Toobit.
Prior to its official launch, SpongeV2 has already seen more than $6.4 million in staked and bridged tokens.
Sponge V2’s novel Play-to-Earn (P2E) gaming feature augments the experience with engaging gaming activities, distinguishing it from its predecessor.
Justin Sun’s Stake in SPONGE
Tron founder Justin Sun bought $SPONGE last year that’s now worth about $90,000. His acquisition aligns with his prior announcement on X that he will invest in promising meme coin projects.
I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023
Sponge V2 also introduces a stake-to-earn system that offers an impressive annual yield of 278%.
Conor Kenny, a prominent YouTuber with a following exceeding 180,000, predicts the project might eclipse the popularity of Sponge V1.
Connect your digital wallet to the SpongeV2 portal and initiate a swap of your Ethereum or USDT for V2 tokens to secure Sponge V2 tokens. Alternatively, employ your bank card for the acquisition.
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