6 months ago
34
The weekly chart for MANTA/USDT reveals a fascinating set-up, which was indicated by top crypto trader Butterfly_chart on X. With the token testing the lower boundary of a broadening wedge, traders are maintaining focus on a potential bounce that could lead to an appreciable profit.
The broadening wedge’s lower boundary, currently around $0.630, is identified as a critical support level. This zone has seen continual tests, reinforcing its importance as a potential launchpad. Butterfly’s analysis hints at a bullish turnaround, with price action showing signs of adaptability near this key area.
If a rebound occurs, traders could see momentum carry MANTA toward the upper wedge boundary, with price targets extending well beyond $1.00. The layout indicates the importance of this pivotal level for MANTA’s price momentary direction.
Should the bounce play out, preliminary resistance sits near $0.750, a level that has seen intensified activity in the past. Breaking above this could lead MANTA to reassess subjective zones like $1.00 and the wedge’s upper boundary near $1.20.
Butterfly_chart emphasizes on X popularly known as Twitter, the significance of volume confirmation to validate the bullish scenario. While upside targets are promising, traders need to observe support levels to gauge the strength of this potential rally.
With the broadening wedge in focus, Manta’s price action will potentially attract major attention. Whether it can maximize on this technical set-up remains under observation, but one thing is clear, the next move could define its direction in the coming weeks.
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