Technical Analysis & Predictions 1/30/21*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. I may also own or trade any of the symbols and cryptocurrencies mentioned in this video so do not make your trading or investing decisions based on this video. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky. Affiliate links are also included in this same video description section here and if you decide to support me by using any of them, I may receive a referral bonus or commission.
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MANAUSD trade ideas
Decentraland (MANA) - Poised For A Breakout?The 1-Hour Chart gives a pretty good reading on the recently volatile MANA / USD chart.
It may come down to re-test one more time--depending on what Ethereum decides to do.
"Don't you mean, 'depending on what Bitcoin decides to do??'..."
Well, yeah, but BTC's in a bull-run, if you haven't noticed (it's recent "decline" includes increasingly lower volume at each low = seller's almost tapped out).
So, if BTC's an inevitability, and if ETH has been trending up towards breaking out against its ATH, then MANA could be a pretty good play at its current prices.
Sure, there's some "resistance" at $0.17-0.18 for MANA, but remember:
MANA (oddly, right?) is one of the coins that Grayscale added to its trusts for public purchase. Maybe Grayscale wants to get a piece of the Gaming pie, and Decentraland has certainly put in the effort to establish itself into the blockchain-gaming niche.
This is the sole reason for its recent surge a few days ago.
And once BTC and ETH start their inevitable march (aka "launch") back up, coins like MANA are sure (not financial advice) to follow.
noteworthy:
The 6 coins added to Grayscale's trusts incl....
LINK (duh)
BAT (sure, ok)
FIL (yep, nice--although this one was added a while back)
XTZ (large community of stakers)
LPT (Livepeer? Uhh...alright, whatever)
and...you guessed it, MANA
Let's do this.
🚀🚀🚀 🌜☝️💰💰💰
MANAUSDMANAUSD has a Bullish Flag.
If not successful, the trend may fall to the top of the daily Channel or even to the bottom (not shown).
But if successful: The First resistance ahead is Fibo-0.78, but the heaviest will be Fibo-1 which would be it's second attempt to get through it over the last few days.
If it manages to successfully break through Fibo-0.78 and then Fibo-1, the next profit targets will be 1.6 and then 2.6.
We can expect heavy resistance at all pints particularly at F-1, which can lead to the reversal of the trend.
Happy Trading
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JUST FOR EDUCATIONAL PURPOSE