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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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

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.

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.

It is worth mentioning that the position of the RSI below 30 suggests MANTA is oversold. This often suggests an impending correction.