MANA has been in a range over the past two weeksMANA has been in a range over the past two weeks, and its bullish move was halted when it reached the $0.80 range resistance. Because a strong retracement of the resistance range has occurred without a pullback, the potential for a price correction to at least the $0.55 support area has been created. Also, we could consider the ascending channel as a corner pattern, which with the confirmation of the pattern from the bottom, the last target is in the range of $0.57.
Now the resistance that is considered in the range of $0.75 is the range above which we cannot expect a bullish trend in the 4-hour timeframe if a strong reversal is not registered above it. The first support of MANA is considered in the range of $0.458 to $0.540. One of the strongest near-term supports is the $0.402-$0.425 range, which is unlikely to see a deep correction given the strength of the uptrend.
