MANA/USDT Trading ScenarioDespite the rapid growth of BTC and many popular assets in the crypto market, some altcoins from promising projects remain heavily oversold and undervalued. One example is the native token of the Decentraland metaverse — MANA. It is currently trading 95% below its all-time high and is near a local minimum.
From a volume profile perspective, the asset is attracting market participants in the current price range, and the accumulation phase has been ongoing for almost two years. If liquidity starts to shift from BTC into altcoins during an altseason, this token could experience significant growth and provide investors with a solid profit.
Mana
#MANA/USDT#MANA
The price is moving in a descending channel on the 1-hour frame and is sticking to it well
We have a bounce from the lower limit of the descending channel and we are now touching this support at 0.2980
We have a downtrend on the RSI indicator that is about to be broken, which supports the rise
We have a trend to stabilize above the 100 moving average
Entry price 0.2988
First target 0.3045
Second target 0.3121
Third target 0.3200
#MANA (SPOT) entry range( 0.2510- 0.3110) T.(0.5990) SL(0.2388)BINANCE:MANAUSDT
entry range ( 0.2510- 0.3110)
Target1 (0.3819) - Target2 (0.4660)- Target3 (0.5990)
1 Extra Targets(optional) in chart, if you like to continue in the trade with making stoploss very high.
SL .1D close below (0.2388)
*** collect the coin slowly in the entry range ***
*** No FOMO - No Rush , it is a long journey ***
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The medium term of MANA is super bearishMedium term MANA is super bearish
According to the waves that formed in these last two months, the scenario of MANA has become clearer.
It looks like we have a big ABC, and wave B is a triangle.
The last triangle wave of wave B could end in the red range and then we could see another bearish trend for MANA in the medium term.
This is the vision we now have for MANA.
Closing a weekly candle above the invalidation level will violate the analysis
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
Decentraland / MANA Decentraland price today is $0.58 with a 24hour trading volume of half a billion dollar. MANA price is up 96% in the last two weeks
Decentraland is a decentralized, traversable, three-dimensional, virtual reality platform being built on the Ethereum blockchain. The platform focuses on the ownership of parcels of digital land where users can create unique environments in a virtual world. Content creators will be able to prove ownership of, and capture value from, their contributions to the platform. Users will be able to traverse unique areas of content, which can be clustered into districts, giving content creators targeted traffic and allow for spatial discovery of new content by users. Currently, users gather, interact, share content, and play games primarily on large proprietary platforms like Facebook. The team believes that a decentralized model will allow participants to realize several benefits over current centralized services. Users and contributors will be able to benefit from transactions that occur on the platform, instead of allowing some or all of the revenue to flow to a single party. Furthermore, a decentralized platform will reduce the risk of censorship and vulnerabilities due to infrastructure failures or security breaches. Decentraland uses two tokens, LAND and MANA, which allow users to interact with the platform. Individual ownership of land parcels are represented by non-fungible LAND tokens containing the coordinates of a single point on the grid and a reference to the details of each parcel. Ownership details are managed through a ledger on a smart contract. To acquire LAND users must burn ERC20 based MANA tokens. MANA tokens are also used for the purchase of in-game goods and services.
Mana first big resistance is 0.9$ and 0.4-0.5 is a good dip zone. monthly MACD and RSI giving positive and buy signal too
Decentraland: Breakout?MANA recently experienced an upward movement and is currently trying to leave our magenta Target Zone (between $0.1371 and $0.3154). We attribute this development primarily to the magenta wave (iv). The price may should leave the range briefly, but then come back to complete the green wave (2). Consequently, we continue to keep the Zone active so that it can be used to open long positions. Stops could be placed around 1% below the lower edge. From a technical perspective, however, there is also the possibility that the low of the green wave alt.(2) has already been set. This option will come into play with a direct rise above the resistance at $0.37.
Decentraland: Home StretchMANA should have reached the high of the magenta wave (iv) on August 24. Since then, it has been working on wave (v) of the same color. This last stage should ultimately complete the green wave (2). With the corrective low in place, the price should then turn around and rise above the resistance at $0.48 with wave (1), which is also in magenta. Investors could use the entire range of the Zone to establish long positions, with stops placed about 1% below the lower edge. From a technical perspective, it would also be possible that the past low within the Zone has already ended the green wave alt.(2).
MANA (Decentraland): Approaching SupportTrade setup : Price is in a Downtrend. It had a failed breakout from Falling Wedge pattern but price did make a Higher High (above prior swing high), which is also a positive sign (see chart). Now we'll wait for price to pull back and watch if it makes a Higher Low (above prior downswing low of $0.27). Series of Higher Highs and Higher Lows are indicative of an Uptrend.
Pattern : Price is Approaching Support , which is a level where it could pause or reverse its recent decline, at least temporarily. Support is often a level where price has bounced up in the past, or potentially prior Resistance level that was broken. (concept known as polarity). Once price breaks below support, it can move lower to the next support level. Learn to trade key levels in Lesson 7.
Trend : Short-term trend is Strong Down, Medium-term trend is Down and Long-term trend is Strong Down.
Momentum : Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance : Nearest Support Zone is $0.27. Nearest Resistance Zone is $0.32, then $0.40.
MANA looks bullishIt looks like we have an ABC on the chart that wave C is ending.
By maintaining the green range, it can move towards the target.
The short-term target can be the red box
Closing a daily candle below the invalidation level will violate the analysis
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
MANAUSDT Long Position Analysis✉️ Pair: MANAUSDT
📈 Direction: Long
💯 Leverage: Cross 5x - 10x - 20x
📊 Entry: $0.3000
✅ Target 1: $0.3705
✅ Target 2: $0.4823
✅ Target 3: $0.5739
✅ Target 4: $0.6959
✅ Target 5: 🚀🚀🚀
⛔️ Stop Loss: $0.2555
MANA has formed a falling wedge and has been rejected from both the descending resistance of the wedge and a horizontal resistance. It is currently trending towards the support line of the chart. If #MANA loses the next support, there is a high chance it drops to $0.30, presenting a good dip buy opportunity. 📊
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MANA Technical Analysis: Potential for a 200%+ Rally!Hello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:
After a heavy 68% drop, MANA has finally reached the lower support level and is currently showing a rebound.
The lower support line has remained strong for MANA since December 2022, and so far, it has respected the support trendline. If MANA follows the uptrend and breaks above the 21 EMA, then a bullish rally is likely possible.
- Lower Support: $0.243 to $0.29
- Primary Resistance: $0.401
- Target: $0.766
- RSI: Oversold
- Invalidation Point: A breakdown below the supporting trendline.
DYOR, NFA.
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Alikze »» YGG | Pullback to broken structure🔍 Technical analysis: Pullback to broken structure
- According to the previous analysis presented in the 12H time frame, after reacting to the PRZ zones, it faced selling pressure, which finally continued to the specified zone of 0.58 correction.
- Currently, it has infiltrated the sub-region in the 12H time frame.
- Therefore, if this return continues up to the supply range and the middle of the descending channel and then faces selling pressure, the downward trend can continue up to the range of 0.39.
💎 Alternative scenario: if this reversal breaks the supply zone with strength and meets demand in the middle of the channel, the first target near that range will be 0.78, and if the zone is maintained, it can move up to the channel ceiling and the specified supply range.
🛑 Resistance range: 0.5859 - 0.6836
🟩 Support range: 0.3906
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MANA Technical AnalysisMANA is in a bearish trend with the price trading below the EMA 200, after rejecting from it the price declined to the $0.3231 support level and holding above it.
If the price manages to hold above at $0.3231 level we could expect a bounce back to the next levels.
If the price fails to hold the $ 0.3231 level it will move towards the next support zone Yellow at $0.2638 - $0.2845.Which is the best buying zone.
While the price is holding above at $0.3380 we can take some entries here and do some entry at the next Yellow zone.
The volume will also be a key factor to watch as it can provide insights into the strength of any potential moves.