Deep Dive
1. Technical Rejection & Bearish Signals (Bearish Impact)
Overview: MANTA broke below its 23.6% Fibonacci retracement level ($0.224) and now trades at $0.185. The MACD histogram (-0.001216) confirms bearish momentum, while the RSI-14 (39.09) nears oversold territory but lacks reversal signals.
What this means: Technical traders likely exited positions after the breakdown, exacerbated by thin liquidity (turnover ratio: 0.196). The next support lies at the August low near $0.18, with a breach risking a test of the yearly low at $0.13.
What to watch: A sustained close above the 7-day SMA ($0.212) could signal short-term relief.
2. Binance Margin Ratio Cut (Bearish Impact)
Overview: Binance lowered MANTA’s collateral ratio from 50% to 30% for Portfolio Margin users on June 29, 2025. This forced margin traders to either deposit more collateral or reduce exposure.
What this means: The change likely triggered liquidations or defensive selling, as seen in the 58% spike in trading volume. Reduced leverage availability may dampen speculative interest until volatility stabilizes.
3. Strategic Pivot Uncertainty (Mixed Impact)
Overview: Manta paused its Gas Gain campaign on August 4 to prioritize app development, aiming to launch 3–5 “viral Web3 apps” by late 2026. While this aligns with long-term ecosystem growth, the abrupt shift raised concerns about near-term metrics.
What this means: The move risks alienating bots and farmers who drove prior network activity. However, the Wintermute liquidity partnership (7.5M MANTA loaned for market-making) could stabilize prices if utilized strategically.
Conclusion
MANTA’s drop reflects a mix of technical triggers, margin policy tightening, and skepticism about its app-centric pivot. While the project’s long-term vision remains intact, traders appear cautious amid weak market sentiment (Fear & Greed Index: 40/100).
Key watch: Can MANTA hold the $0.18 support zone ahead of Coinfest Asia (August 21–22), where its team will showcase new partnerships and staking upgrades?