Promising layer-2 zkEVM Manta Network has seen its native token MANTA blast up in a dramatic rally.
Given the rise, many are now asking whether it’s too late to buy Manta?
The substantial price move has seen MANTA price hammer-up to a new all-time high, fresh off the back of an impressive ascent that has seen MANTA replace BASE as the fourth largest L2 scaling solution.
— KNIGHT $INJ TO 100$ (@cryptoknight890) January 25, 2024
Trader sentiment is now incredibly high, especially behind zkEVM technology, with prominent figures calling for MANTA to launch up to a whopping $5 on the short-time frame.
MANTA Price Analysis: As Manta Network Hammers New All-Time High Is Price Due to Retrace?
As price retraces from the new all-time high, MANTA is currently trading at a market price of $3.04 (representing 24-hours of -6.35%).
This comes after price hammered up to $3.33 in an impressive +38% push across 48-hours from 20DMA support (now stood at $3.10).
However, the minor -8.20% retracement move has since seen MANTA price retrace below the 20DMA.
Yet, in a show of technical strength, the downside move avoids a significant risk of free-fall due to an impressive bullish pendant structure between the upper and lower trendline.
In a further sign of positivity, MANTA’s price retracement has left the RSI indicator cooling down, with a current near neutral signal at 56.85 – suggesting MANTA price could still push up from here.
The minor bearish divergence remaining in the RSI is matched by confirmation from minor bearish divergence in the MACD at -0.026, suggesting price is likely to push down to the lower trendline.
Overall, despite minor retracement confirmed by indicators, a bullish pendant pattern suggests this is just the start of an impressive run for Manta Network’s zkEVM – confirming bullish market sentiment.
This leaves MANTA with an upside target at the upper trendline around $3.33 (a possible +7%).
While downside risk could see MANTA tumble to lower trendline support at $2.95 (a possible -5.18%).
Therefore MANTA price analysis reveals a current risk: reward proposition of 1.36 – a good entry on the short-time frame suggesting it’s not too late to buy.
But while MANTA offers a modest return despite it’s impressive zkEVM, retracement risk continues to drive investors towards a potentially more lucrative play in the Meme Kombat presale.
Meme Kombat Explodes Over $7.42M Raised In Skyrocketing Presale – Don’t Miss Out on MANTA Price Analysis Alternative
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.
So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?
The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.
Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.
— Meme Kombat (@Meme_Kombat) January 25, 2024
Season 1 of the project promises 11 unique meme characters, ensuring plenty of action. Season 2 is already planned for December 2023. The project’s decentralized nature, along with the excitement of AI-driven battles, guarantees outcomes that are transparent yet unpredictable.
MANTA Price Analysis Blues? Meme Kombat Pits Meme Communities in High Octane Staking Battles
The project goes beyond excitement; it’s founded on trust. Meme Kombat’s dedication to transparency shows in their upcoming smart contract security audit.
The findings of this audit will soon be public, a move that many projects shy away from.
The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.
His role as COO of North Technologies, and two decades in process design add credibility to Meme Kombat. Whiteman’s public profile and the Amsterdam address give extra trust in an era of project anonymity.
Embrace the future of meme-based gaming and betting with Meme Kombat.
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