Manta Network(MANTA) is Ready to Correct at least ➖10%
📈Today, I want to analyze a Token for you, which was one of the trending tokens of the cryptocurrency market in the last few days; the name of this project is Manta Network(MANTA).
📚What Is Manta Network(MANTA)❗️❓
Manta Network is the modular ecosystem for web3. Users can build and deploy any Solidity-based decentralized applications on Manta and leverage its technology stack to deliver faster transaction speeds than an L1 and lower gas costs than an L2.
✅Manta Network(MANTA) reacted well to the 🟡Potential Reversal Zone(PRZ)🟡and started to decline.
💡In terms of Classical Technical Analysis, Manta Network(MANTA) managed to form a Rising Wedge Pattern.
🏃♂️Currently, Manta Network(MANTA) has broken the lower line of the Rising Wedge Pattern and is moving in a small ascending channel, which can act as a pullback.
🌊According to the theory of Elliott waves, it seems that the Manta Network(MANTA) has succeeded in completing five impulse waves, and we should expect corrective waves in the coming days.
🔔I expect Manta Network(MANTA) to fall at least to the 🟢Support zone($3.365-$3.260)🟢 after breaking the lower line of the ascending channel, and it is likely to experience further falls.
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Manta Network Analyze (MANTAUSDT), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
📚What Is Manta Network(MANTA)❗️❓
Manta Network is the modular ecosystem for web3. Users can build and deploy any Solidity-based decentralized applications on Manta and leverage its technology stack to deliver faster transaction speeds than an L1 and lower gas costs than an L2.
✅Manta Network(MANTA) reacted well to the 🟡Potential Reversal Zone(PRZ)🟡and started to decline.
💡In terms of Classical Technical Analysis, Manta Network(MANTA) managed to form a Rising Wedge Pattern.
🏃♂️Currently, Manta Network(MANTA) has broken the lower line of the Rising Wedge Pattern and is moving in a small ascending channel, which can act as a pullback.
🌊According to the theory of Elliott waves, it seems that the Manta Network(MANTA) has succeeded in completing five impulse waves, and we should expect corrective waves in the coming days.
🔔I expect Manta Network(MANTA) to fall at least to the 🟢Support zone($3.365-$3.260)🟢 after breaking the lower line of the ascending channel, and it is likely to experience further falls.
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Manta Network Analyze (MANTAUSDT), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Comment:
The lower line of the ascending channel was broken.
Trade closed: target reached:
✅First Target✅
Trade closed: target reached:
✅Second Target✅
Comment:
MANTA has dropped more than 20% since I shared the post with you; now we have to wait and see if it can hold the 🟢Support zone($2.89-$2.68)🟢, although this zone will be lost if Bitcoin continues to fall.
Comment:
Most likely, MANTA will lose the 🟢Support zone($2.89-$2.68)🟢.
Comment:
MANTA is likely to fall to at least $2.22.