Manta Network's (MANTA) decline surprises: Critical bend!

Popular crypto project Manta Network (MANTA) has lost close to 10% of its value in the last 24 hours.

The cryptocurrency market declined after Bitcoin (BTC) failed to reach $44K. Since the past day, many altcoins have fallen by more than 10%.

Bitcoin (BTC), the leading cryptocurrency, rose to $38,800 after recovering $40,000. The BTC, which experienced a sharp decline from this region, dragged altcoins with it.

Manta Network’s native token MANTA, which has just entered the crypto market and attracted attention in a short time, was affected by the market decline and made a 10% pullback. MANTA touched an important support point with the recent decline.

Expectations are high for Manta Network (MANTA)

Manta Network (MANTA), a scalable and modular layer-2 blockchain, has managed to attract the attention of crypto investors. The Manta Network team gave the message that they have created a remarkable ecosystem.

Manta Network has been one of the most active blockchains with a TVL (total assets locked) of over $1.5 billion. In particular, the launch of the staking system and the fact that the participants stated that they would be seen as ecosystem developers increased the expectations of the airdrop. Many users have started to think that the airdrop hype will improve the Manta Network network.

Manta Network’s native token MANTA, where expectations have increased considerably, has started to retreat after a sharp rise to $3.90. MANTA price fell 19% to $3.20 from its peak of $3.90 on Jan. 28.

MANTA price has fallen by 10% in the last 24 hours, making crypto investors nervous. Many investors have begun to wonder if the MANTA hype is over. However, the Manta Network ecosystem has debunked this idea with its network activities. Manta Network hosted close to $400 million in trading volume in the last 24 hours.

MANTA quickly fell to $3.41 after losing support in the $3.54 area. This region has attracted attention as the price box, which was previously dominated by buyers. MANTA broke this box and fell to the $3.26 support. MANTA, which tested the $3.26 support twice, failed to hold and fell to the second box. Finding strength from the $3,175 support, MANTA’s pace of decline has slowed.

Looking at the MANTA chart, the price needs to surpass and sustain above $3.26, which is an important resistance point, to continue rising again. If this zone is breached, MANTA could touch $3.41. If MANTA manages to hold the buy zone between $3.41 and $3.48, the price could approach the $3.54 resistance. MANTA’s other resistance points will be at $3.60 and $3.70.

The popular cryptocurrency could pull back to the $3.12 zone if it fails to maintain the support point at $3.17. If it loses this zone as well, MANTA price could test $3.07 sharply.