Manta is a recently launched coin by Manta Network which has gained a lot of hype since its launch. Currently, it is valued at $2.72 with a market cap of $683.72M with a 7% price drop. The traders and investors have been forecasting Manta Network’s future and considering whether it will thrive or experience a downturn in the long term.
Table of Contents
https://coinmarketcap.com/currencies/manta-network/
Forecasting Manta Network’s Future
Manta Network reached its peak value on January 28, 2024, hitting an all-time high of $3.87. The current market sentiment is bullish, with a Fear & Greed Index reading of 60 (Greed).
https://coincodex.com/crypto/manta-network/price-prediction/
Price Analysis for MANTA
Manta’s price faces challenges in gathering buying demand, displaying a bearish pattern around $3.2. Resistance for Manta is evident at $3.2, while support for MANTA/USDT is at $2.64. The latest analysis indicates bearish pressure around $3.2, with buyers defending a decline below immediate support.
Analyzing the 1-day chart, MANTA’s price experienced a bearish rally after failing to surpass $3.2. The 24-hour volume surged to $78.6 million, indicating increased trading activity.
The current price is $2.7, marking an 8.4% decrease in the last 24 hours. The RSI-14 trend line suggests a decline in momentum, while the SMA-14 level hints at upward volatility in the next few hours.
https://www.coingecko.com/en/coins/manta-network
Future Expectations for MANTA Price
The hourly chart suggests bearish efforts to prevent an immediate surge. If MANTA breaks above $3.2, it may rise to touch the resistance at $3.9. Failure to initiate a surge may lead to a drop below the immediate support line at $2.64, resulting in a correction to $2.12.
Recent MANTA Developments
Manta Network faced a distributed denial-of-service (DDoS) attack during the issuance of its MANTA token, causing delayed withdrawals and slowed network performance. Despite challenges, Manta Network has a market capitalization exceeding $600 million.
https://www.coindesk.com/tech/2024/01/19/manta-network-hit-by-ddos-attack-day-after-token-issuance/
Price Predictions for MANTA (2024-2033)
Cryptopolitan predicts a minimum Manta Network price of $4.07 in 2024, reaching a maximum of $4.79, averaging $4.19 throughout the year. The forecasts continue with a minimum price of $118.85 in 2033, potentially reaching a high of $134.38, with an average of $122.08.
https://www.cryptopolitan.com/manta-price-prediction/
Coincodex suggests a potential decrease to $2.67 by February 9, 2024, indicating a bearish sentiment. Digital Coin Price anticipates MANTA exceeding $6.07 in 2025 and reaching over $50.55 by 2033.
https://coincodex.com/crypto/manta-network/price-prediction/
Changelly’s analysis foresees a range of $8.26 to $10.26 in 2026 and a potential range of $78.00 to $96.46 in 2032.
https://changelly.com/blog/manta-network-manta-price-prediction/
Manta Network Overview and Recent Achievements
Launched in September 2023, Manta Network gained attention during its token generation event, showcasing advanced technology such as a modular zero-knowledge (ZK) rollup compatible with Ethereum.
Despite a DDoS attack and market challenges, Manta Network has a significant total value locked (TVL) and achieved milestones in scalability.
Manta Pacific surpassed Base as the third-largest layer 2 scaling solution with a TVL exceeding $1.48 billion. The “New Paradigm” campaign led to an $850 million influx in three weeks, resulting in over 540,000 active wallet addresses and 8.2 million transactions.
https://l2beat.com/scaling/projects/mantapacific
Conclusion
To conclude, Investors and traders have been forecasting the Manta Network’s future by analyzing the charts. Manta Network’s successful launch has sparked interest in layer 2 solutions and zero-knowledge technology. However, its position in industry rankings remains uncertain, and further exploration is needed to determine its standing among top cryptocurrencies.
Note: It’s a research based article not a financial advice
- Follow our Twitter Account for Daily Insights on Technology
- https://twitter.com/IronedTech
- Don’t Forget more News and Research articles at
- https://techironed.com/