$MANTA Trade Idea (4H Chart)
▶️ Entry Zone:1.005 - 1.062 (Resistance levels)
🛑 Stop Loss: 0.944 (Recent low)
🎯 Take Profit 1: 1.114
🎯 Take Profit 2: 1.134 (Based on chart pattern projection)
Analysis:
* Price is above all EMAs (7, 25, 99), indicating a strong bullish trend.
* Recent price action shows a steady uptrend with multiple retests of support levels.
* RSI(14) at 58.838 is in the neutral zone, suggesting potential for further upside.
* MACD is positive and showing bullish divergence, indicating strengthening momentum.
* 24h gain of 6.12% with a high trading volume indicates strong buying pressure.
Rationale:
Strong bullish signals and recent price performance make MANTA/USDT a potential long candidate. Entry at resistance levels confirms a breakout. However, the neutral RSI suggests caution and potential for profit-taking.
Caution:
Cryptocurrency market is highly volatile.
Use stop-loss orders for risk management.
Overbought conditions in the RSI might indicate a potential short-term correction.
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