Decentralandusd
MANA is ready to set new all time highHey friends, hope you are well and welcome to the new update on Decentraland token.
In my previous article, we have seen that the MANA was moving in a down channel and I predicted that this time it will break out the channel.
Now if we take a look at the live daily chat, then finally MANA has broken out the channel and also broke out 25, 50, and, 100 simple moving averages. Now it is stuck at 200 SMA. If the price action of Decentraland will not be able to break out the 200 simple moving average then it may re-test the resistance of the channel as support.
Long-term SMAs:
On the long-term weekly chart, the price action of Decentraland is trying to break out the 25, 50, and 100 simple moving averages.
Long-term Ichimoku cloud is bullish now:
On the long-term weekly chart, the price action of the MANA token was moving under the strong bearish Ichimoku cloud. Now the cloud has finally turned bullish, therefore, it is a strong possibility that the price action would breakout this cloud with a powerful bullish divergence.
Big Shark move:
While the Ichimoku cloud has turned bullish the price action of the MANA token is also moving in a potential reversal zone of a very big bullish Shark pattern on a 2-month chart. When the priceline will start moving up from this potential reversal zone then the price action of MANA my cross the all-time high price level as well.
MANAUSD has completed gartley pattern | Upto 78% profit expectedOn week chart the MANAUSD has completed the formation of gartley pattern.
25 MA support is already withing PRZ area.
50SMA and 25SMA are moving towards each other to make a golden cross which will start a massive bull rally insha Allah.
The targets are:
Buy between: 0.05196501 to 0.04290529
Sell between: 0.05920685 to 0.07644723
Regards,
Atif Akbar (moon333)
Decentraland: A blockchain-based virtual world Decentraland is the first virtual platform owned by its users. $MANA
There are plenty of opportunities to explore or even create your own piece of the universe. You can purchase land through the Ethereum blockchain, creating an immutable record of ownership. No one can limit what you build.
With full control over your land, you can create unique experiences unlike anything in existence. Your imagination is the limit: go to a casino, watch live music, attend a workshop, shop with friends, start a business, test drive a car, visit an underwater resort, and much, much more—all within a 360-degree, virtual world.
Decentraland Growth PotentialI don't really think VR has a positive potential over Mixed Reality, but that is a whole different story. Given the currency price of 11 cents plus the fact that MANA is partnered with Aragon, I see some inevitable growth potential. While they entered the market with hugely negative correlations, this price seems like a dip given the potential of higher demands. If they grow at the same rate of the rest of their partners from current price, you are talking about at least a 440% positive growth potential with medium risk.
DecentraLand MANA ForecastSpotted an Elliot Wave on 2 hour chart. ABC patter is present. MANA seems ready for another go.
From my end this is a blind prediction and it may not reflect what I've draw due to many factors.
However I am hopeful of the outcome. Also provides an opportunity for swing trading. Take into consideration candlestick patterns and support/resistance positions. Furthermore plot trend-lines, include Stochastic Oscillator & RSI and it should be fairly easy from that point.
I combined Elliot waves, fibonnaci and harmonics pattern to arrive to a conclusion. I did not clutter the chart and decided to plot the Elliot Wave only for simplicity.
Like I said this might be a long shot however everything is possible. This EXACT pattern occured between 16th - 14th December 2017. History has a habit of repeating itself!
This is not an investment advice, always do your own research.