Manausd
👀 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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💡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
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex / Crypto trader ?
Now, It's your turn !
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
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Traders,
Here are some of my absolute favorite coins today. All look to be primed, pumped, and ready to move up soon! Enjoy this entertainment piece.
- Stew
Descentraland MANA starting wave 5 of 5 of 3MANA structure is really nice. To end all of wave 3 (green) MANA needs one more high towards 15 - 20, the region of confluence defined by ext 2,382 green, ext 3,00 blue and ext 2,618 white. Wave 5 of 5 of 3 has itself five waves, of which wave 1 and 2 (white) are done. We shall see very soon a nice upside move in MANA. Once this wave 3 green is complete, a wave 4 will send price back to the same level where it is now. i.e. 2.20
MANAUSDTMANA is still bearish. The cup & handle pattern is break down side and the retest is also confirm. Seems to be still bearish. All depend on btc. Take trade accordingly to my chart pattern with proper risk management. Thanks
Some hopium is still valid if MANAUSDT break the falling Wedge pattern upside. But remember short in that time if break the falling Wedge upside. And enter there for shorting MANA at different levels untill proper breakout done of the 2.92 resistance. Which is huge and strong resistance.
MANA - Long Term / Outlook ⚪️Let's see how MANA is behaving.
This is a 1D chart. (Long Term)
Red area:
Key resistance, which
has been controlling the price since Nov 2021.
Blue area:
Consolidation channel
Price has been moving sideways inside this
channel and confirmed it as our safe
price range.
Green area:
Essential support
has been confirmed and tested.
Be careful because this level is being tested
again, and the market isn't strong
enough.
We might see it break down.
Support levels: $2.1879
Resistance Area: $3.5430
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing STRONG SELL volumes for MANA.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Middle Bollinger Band can push down the value, and the Lower band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that MANA is below the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $2.5565
Let me know your ideas.
Good luck.