Technical analysis by perotrade about Symbol MANTA: Buy recommendation (6/5/2024)

**Chart Description:** This analysis of MANTA/USDT on a daily chart showcases a recent bullish breakout with key support and resistance levels identified. The chart highlights significant price levels and provides a potential future price trajectory, indicated by the red arrow. **Key Features:** - **Support Levels:** Key support is identified at $1.742 and $1.516, which have previously provided strong buying interest and prevented further declines. - **Resistance Levels:** Significant resistance is marked at $2.026, where selling pressure may increase. - **Volume and RSI Analysis:** The volume indicator shows increased trading activity, supporting the recent price movements. The RSI (Relative Strength Index) is at 68.138, indicating bullish momentum but nearing the overbought zone. **Technical Outlook:** The current setup indicates a bullish sentiment with the price breaking above previous resistance levels. If the price continues to hold above the support at $1.857, we could see a move towards the $2.026 resistance level. Traders should watch for a breakout above $2.026 for confirmation of the bullish trend continuation. **Price Projection:** The red arrow suggests a potential upward movement, with prices expected to reach up to $2.026. If this level is breached, the next target could be around $2.633, as indicated by the green resistance zone. **Conclusion:** Traders are advised to monitor the support and resistance levels closely and look for bullish signals above $1.857. A sustained move above $2.026 could open up further upside potential towards $2.633. However, caution is advised as the RSI is nearing the overbought zone, indicating the possibility of a short-term pullback.