Mantle (MNT) decreased more than 10 % after penetration of bybit, where approximately $ 174 million of Cmeth-a scarf currency that provides liquidity for ETH in the MNT-ecosystem. The penetration, associated with the North Korean Lazarus group, caused panic, causing the MNT (RSI) relative index to decrease.
Although the MNT’s relative index has been recovered since then to 39.9, it remains in the Habbiyah area, which reflects cautious feelings. In addition, the flow of CHAIKIN (CMF) MNT is trying to recover, but it is still deeply negative, while the EMA moving average lines (EMA) indicate continuous declining momentum.
MNT RSI touched strong levels of sale after a breast
RSI Mantle decreased sharply from 54.7 to 22.9 within a few hours after penetration by BYBIT, as the North Korean Piracy Group Lazarus was stolen $ 1.5 billion, making it the largest psalmist ever. Among the assets stole by Cmeth, a scarf currency that provides liquidity for ETH in the MNT ecosystem.
This huge external flow of money sparked panic, which led to a significant decrease in the MNT (RSI) relative index. RSI is a momentum that measures the speed and change of price movements, which usually ranges from 0 to 100.
It is commonly used to determine the conditions of peak or excessive sale, with values above 70 indicating the excessive conditions that are vulnerable and less than 30 years suggesting the sale area. RSI from Mantle referred to 22.9 indicating excessive excessive excessiveness, which reflects severe declining feelings amid the consequences of penetration.
After this sharp decline, RSI Mantle has turned to 39.9, indicating signs of recovery in the past few hours. RSI indicates less than 30 in general that the original is exaggerated and may be due to the prices of prices with the disappearance of pressure.
Now, as RSI approaches the neutral area (30-50), it indicates that the extreme sales momentum has reduced, which may attract fishermen deals or lower scales. If RSI continues to rise, this may indicate an increase in bullish momentum and a possible reflection towards MNT prices.
However, if the RSI fails to separate from the minimum 50, it may indicate the continuation of uncertainty and the lack of purchase strength, leaving the MNT vulnerable to the risks of the additional downside.
Mantle CMF is trying to recover, but it is still very negative
The MNT (CMF) flow in MNT was already in a negative area before penetration, which reflects a huge direction and a sale pressure. However, after the penetration, the CMF fell from MNT further, as it reached a negative peak of -0.35 yesterday.
CMF is an indicator that measures the weighted average accumulation and distribution over a specific period. It ranges from -1 to 1, with positive values indicating the purchase of pressure and accumulation, while negative values indicate the sale of pressure and distribution.
A sharp decrease to -0.35 indicates extensive outflows of the scarf. This confirms the momentum of great sale amid the increasing fear in the market and the uncertainty caused by the penetration.
After reaching this negative peak, CMF from MNT started recovery, and is currently sitting at -0.24. Although this upward movement is still far from turning to positive, this upward movement indicates that the sale pressure is gradually diluted.
The increased CMF can indicate, even though negativity, it can indicate that the declining momentum loses steam. If the purchase continues to increase, this may pave the way to install prices or even reflection. However, as long as the CMF remains in negative lands, the MNT price is likely to face.
The transition to the positive CMF will be a more convincing sign of the return of the bullish feelings. It can indicate a stronger possibility of price recovery.
Mantle decreased to less than one dollar for the first time since early February
MNT is currently very declining, as all EMAS in the short term is less than long -term lines. This preparation indicates a strong declining momentum, as the last prices are weaker compared to historical trends.
If this landmark continues, MNT can test support at $ 0.81.
On the other hand, if the Mantle begins to recover from the last decline, it can test the resistance at $ 0.98. If this level is broken, the next goal will be $ 1.08.
The strong bullish trend MNT can pay $ 1.31, which is a potentially 41 % bullish. However, in this bullish scenario to reveal, the short -term EMAS will need to cross over it in the long run, indicating the renewal of momentum in the purchase.
Disintegration
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