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The Manta Network price is up 2% in the last 24 hours to trade for $2.4607 as of 4:25 a.m. EST time, with trading volume rising 65%.
This comes as hype around the MANTA airdrop fades after the event catapulted the altcoin to the top trending list on CoinMarketCap.
📷📷Manta Airdrop Update: Airdrop claiming will go live at 3pm IST.
Claim: https://t.co/7vKM4YQmHS
– Those who participate in the Paradigam campaign will also be able to claim their airdrop tokens at the same time.
– Airdrop Allocation depends on NFTs holding. pic.twitter.com/SffDHkVqqz
— Crypto Analyst 💚 (@snappieishere) January 18, 2024
Notably, the impact of the airdrop is best seen on the daily timeframe for the MANTA/USDT trading pair. The altcoin skyrocketed nearly 6,600% on the Binance exchange to record an intra-day high of $3.3330 on January 18.
TradingView: MANTA/USDT 1-day chart
On the one-hour timeframe, the Manta Network price is consolidating within the lower half of the Bollinger indicator. Specifically, it is trading between the centerline and the lower band of the Bollinger indicator at $2.5337 and $2.3672 levels respectively. The latter provides immediate support even as the Manta Network price continues to consolidate above the ascending trendline.
The Relative Strength Index (RSI) is moving north to show rising momentum. If this trajectory sustains, the momentum indicator could soon execute a buy signal by crossing above the yellow band. Traders heeding this call could send the Manta Network price soaring higher.
If the lower band of the Bollinger indicator holds, the Manta Network price could move north, flipping the centerline from resistance into support. This could provide the springboard for MANTA to target the upper band of the Bollinger indicator at $2.7003.
In a highly bullish case, the Manta Network price could shatter the $2.8194 resistance level, extending north to reclaim the range high of $3.3330. Such a move would constitute a 40% climb above current levels.
TradingView: MANTA/USDT 1-hour chart
Converse Case
However, the Moving Average Convergence Divergence (MACD) is still moving below the signal line after a bearish crossover on January 21. Enhanced seller momentum could see the Manta Network price lose support due to the lower band of the Bollinger indicator at $2.3672.
In the dire case, the price could descend to lose the support offered by the ascending trendline. Such a slump is likely to send MANTA market value to the $2.0000 psychological level. This would denote a 20% fall below current levels.
Notably, the MACD is still in negative territory, showing the bears have established a dominant presence in the MANTA network.
Elsewhere, investors are looking at BTCMTX, a Bitcoin (BTC) derivative that has rocketed past the $9 million mark in presale funds raised.
Major Announcement! 🌐#BitcoinMinetrix attains a remarkable milestone, raising over $9,000,000! pic.twitter.com/9rUOkm7Hb7
— Bitcoinminetrix (@bitcoinminetrix) January 22, 2024
This milestone comes barely four days after the project breached the $8.7 million mark.
Promising Alternative To MANTA Network
BTCMTX is the powering token for the Bitcoin Minetrix ecosystem, a cloud-mining ecosystem that allows even ordinary folk to mine BTC in a decentralized fashion.
#BitcoinMinetrix revitalizes the landscape of cloud mining by merging stakeholding and cloud mining.
Pioneering tokenized cloud mining focusing on transparency, autonomy, and security, #BTCMTX is dedicated to providing a reliable pathway for $BTC mining enthusiasts. 🌐⚒️ pic.twitter.com/Mrxv0Hnrst
— Bitcoinminetrix (@bitcoinminetrix) January 22, 2024
The Bitcoin Minetrix ecosystem has changed the narrative from the traditional mining method. It presents a new approach that does not require any technical training or expertise to understand and operate.
Examining the level of simplicity in #BitcoinMinetrix versus Traditional Cloud Mining:#BTCMTX: Buying options with $ETH, $BNB, $USDT, or card. 💳
Conventional Cloud Mining: Complicated contracts. 📝#CryptoMining #BTCMining pic.twitter.com/u1vnK9smip
— Bitcoinminetrix (@bitcoinminetrix) January 21, 2024
Specifically, BTCMTX holders stake their tokens for credits, and then redeem these credits for mining hash power. With this, the project is tokenized and decentralized, meaning no intermediaries.
https://twitter.com/bitcoinminetrix/status/1748752320798548469
The $0.013 price for BTCMTX tokens will only stand for less than another four days so act fast to lock in the lower price. Meanwhile, investors’ eyes remain peeled on April 24, when the BTC halving is due, with Bitcoin Minetrix nicely positioned to capitalize on an expected BTC bull run.
Visit Bitcoin Minetrix to buy BTCMTX here.
Also Read:
- How To Buy Bitcoin Minetrix On Presale – Alessandro De Crypto Video Review
- Bitcoin Minetrix Presale Has Just Hours Left: Last Chance to Buy Before Price Rise
- Could Bitcoin Minetrix’s Stake-to-Mine Mechanism Yield a 10x Growth? Crypto Boy Presale Review
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