MANA Took an Early Recovery on the Support Level Price recovered from the decline very early from the support formed. Here we can see that price move back inside the lower boundary of structure while this has a chance to reverse one more time before the lift off. A bull requires a bullish breakout to be confirmed first on the resistance formed.
Manausd
MANAUSD hit and bounced on the 1W MA150Decentraland (MANAUSD) is almost on a +70% rise since yesterday's Low, with the rebound coming on the 1W MA150 (red trend-line), which got hit for the first time in history. The fractal though resembles that of the mid April High both in terms of price action and 1D RSI.
That sequence rebounded on the 1D MA200 (orange trend-line) instead of the 1W MA150 but as it failed to break the 1D MA50 (blue trend-line), it eventually dropped to a Lower Low below the 1D MA200. The Fibonacci level below the 1W MA150 is the 0.236 at $0.5300. As a result we believe that until the 1D MA50 breaks, which was the bullish break-out point in 2021, MANAUSD remains bearish.
Notice how well those Fibonacci levels (extensions and retracements) have been accuratelly providing Resistance and Support levels these past 12 months.
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MY MINIMALIST CHART ANALYSIS FOR $MANA$MANA
On a Weekly Chart
04.18..22
0803H +8 SINGAPORE
Ukraine war is extending, Institutions are still washing out all retail LONGS, which will push cryptos further down. Still expect a downtrend within a week or two. Still have to see the effects of the war on the USD as the Rouble and Yuan are on the uptrend. We may see a shift to cryptocurrencies after this stabilizes as a lot of traders are attracted to this.
Disclaimer:
The findings of the following analysis are the sole opinions of the publisher of this idea and should not be taken as a piece of investment advice.
ALERT:
Entries on the 1.6-1.9 Zone for me.
Based on VITAL SIGNS ( RSI, STOCH, VOL., MA VOL.) Looks healthy.
1. RSI 43: still midway down
2. STOCHS 12/5: on the LOW and building an upwards momentum
3. Volume seems small for me, a lot is still holding. Waiting for a bear tail to have a spike on supply.
4. Downtrend went beyond the FIB 0.618 Reverssal area, so we expect it to go down further to 1.
5. Capitulation: Looking at this as a strong area for BUYERS.
6. We can expect it to push further down to the 1.1-1.9 zones. This is at the bottom of the brown minor and blue major box.
7. Expecting ave. 30% gains on the First Partial Exit - Area of Value.
My Published Ideas are not 100% Accurate. There are many factors at a given time that can change the forecast.
Looking back since the beginning of the year,
the Market had amazingly moved along the TOPS and BOTTOMS of our BOXES, signifying TURNING POINTS of PRICE ACTION, and verified by major FIB levels.
Hoping that this MINIMALIST BOX CHART ANALYSIS will efficiently help you with your DYOR as we Enter a NEW SWING CYCLE.
Charts are created on a MONTHLY, WEEKLY & DAILY Analysis of a MARKET'S CHARACTER.
It is designed for SWING TRADES at the LOWEST or START of a SWING CYCLE.
INSTRUCTIONS:
HOW TO USE THIS MINIMALIST CHART a.k.a (Bento Box)
"FOLLOW THE WHITE RABBIT!"
Just Follow the TOPS and BOTTOMS of the BOXES as a GUIDE to where the MARKET will take you.
TARGET ZONE IDENTIFICATION
The LARGE BOXES (Tops and Bottoms) are MAJOR turning points that will occur sometime in the future. While the SMALL BOXES (Tops and Bottoms) are MINOR turning points.
These can be entries to a BUY/ SELL POSITION, EXIT/PARTIAL EXIT/TOP-UP AREAS, as well as Support and resistance levels
Also includes MAXIMUM TARGET EXIT AREA OF VALUE - CONSERVATIVE (If price action conditions are right at that given moment.)
If it cannot break a TOP or BOTTOM of a BOX, It signifies a reversal.
At times I will include a WAY BEYOND PARABOLIC PRICE TARGET, depending on The Character of the Market (CRYPTOS ONLY).
DYOR for your Fundamentals, Volume, Chart Patterns, Candlestick Math, FIB COILS ( ABC ), Price Action, FIB LEVELS, Market Dynamics, especially institutional and retailer trading psychology.
NOTE: That PRICE TARGETS for ENTRY and EXITS are DYNAMIC and can CHANGE from time to time.
Wishing you all The Best Trades and Thank you all for your Appreciation and Support of My Work.
Much thanks to My 3 Mentors. They are so much of a Blessing that I also wish to share my knowledge.
Vive Le Autist!
MANA with BULLISH divergence MANA in USDT pair, prints a bullish divergence in daily timeframe, yet the bearish flag is not to be ignored too!
Anyway I'm mostly bullish with MANA and if it can regain two resistance lines at 2.1958 and 2.3524, next stops will be " 2.85 , 2.99 , 3.47 and 3.61 " , so keep an eye on it.
Trade Safe ...
MANA STRONG ACCUMULATIONBINANCE:MANAUSDT
As long as we stay above $2 and the 168 SMA we are in an accumulation phase. Means BUY (for long term HOLD)! But make sure you save some spare $$$ in case BTC drops below 36 000, that will drag the whole market down to a macro low. I'm holding long spot. DYOR.
Stay blessed.
MANAUSDT, We are moving in downward trendHello everyone
Mana is one the most powerful project that is working on Metaverse . Before any do in market and buy anything go and check fundamental of project then gambling on your capital.
According to the chart, the price is moving in downward trend and this means that the price desire to go more down and we expect that if this downward trend wanna continue the price can reach to the PRZ Level and that point the price has support and has some movement to upwards but until the trend isnt change to upward it better to dont take any long position for long time .
Dont forget use stop loss if you wanna take short position from here and observe to your capital management
If you anyone have question can ask us to help yourself
Be lucky guys
Abtin
Previous analysis :
Decentraland (MANA) - April 9hello?
Welcome, traders.
By "following", you can always get new information quickly.
Please also click "Like".
Have a nice day.
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(MANAUSDT 1W chart)
2.2 or higher: Expected to create a new wave.
(1D chart)
(buy)
- After confirming that it is supported in 2.2 or higher
(Stop Loss)
- When it falls below 2.1178 and receives resistance
(Sell)
- When resistance is received in the range of 3.2690-3.6862
- When receiving resistance near 4.9455
If it rises above 2.9026, a sharp move is expected, so trade cautiously.
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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator will move accordingly as price and volume move.
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not been released yet.
(Since it was not disclosed, you can use this chart without any restrictions by sharing this chart and copying and pasting the indicators.)
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
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👀 MANA/USDT. BIG POTENTIALHello everyone! Lets look at Mana/Usdt 1d chart. Classic reaccumulation by Wyckoff.
1. Phase A contains a lot of volatility, big spread of the bars, volume spikes (Change of Behaviour reaction), then all that characteristics decrease as we continue to walk in downward channel between supply and demand lines, that worked perfectly.
2. Then look at Higher lows on low supply signature. Sellers are exhausted and bulls are inactive anyways. There is not a lot of supply in this area. Price action is telling us that the move is quite. But we are ready for impulse. Recently we broke supply line of this channel and retested it. There could be some more testing in this area (2.2-2.6 level) but we think that down move on btc.d can make this impulse happen. Potential is big. Other observations is on the chart.
💡Don't miss the great buy opportunity in MANAUSD @decentralandTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (2.5317).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. MANAUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 73.
Take Profits:
TP1= @ 2.7182
TP2= @ 2.9297
TP3= @ 3.1684
TP4= @ 3.4028
TP5= @ 3.9653
SL= Break below S2
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