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.
