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MNAUSD trade ideas

Incoming Trend Reversal ConfirmationZooming in on the Daily chart to 2 and 4 hours, Mana broke out of the descending wedge and retested the bottom of the ascending channel, attempting a reversal in trend. Should it break through $2.96, there is nothing keeping it from entering the mid $3.20's for the first time in 10 days. Depending upon volume, there is always minor resistance at the middle of the ascending channel that sometimes sends it back down to the support before heading up. Volume is still low, any increases as of late have simply been a small number of people shorting the small bumps, which is totally fine (I do it because trend reversals need to set up first to have a meaningful move higher and is oftentimes more predictable). You'll notice that when it simply bounces, w/o a set up like on January 5-6 (28% in 16 hours) it gets rejected just as hard in the following day(s). But, this was an indicator that a trend reversal was inbound and that's where we are at, looking for a confirmation of the break-out in the coming hours. These are just the ideas that I am reading on the short-term chart and not financial advice. The MACD is not looking fantastic. Mana is back at the baseline of the Stoch RSI, supporting another attempt at moving higher...or at least not moving much lower. What we don't want to see is a close below $2.90 as that could lead to a short-term test of $2.50 area. The long weekend is coming to an end and I anticipate some higher volumes tonight and into tomorrow. As always, keep an eye on the Fed. news, BTC movement, and how Wall Street is trending. Keep a stop loss...still very volatile. Mine are a little loose right now because volatility goes both ways. Good luck.
BINANCEUS:MANAUSDLong
by keykomg
MANA - Rejected At The 12MA, Still Below Resistance Line Hope you find value from this post. If you did, pls like and consider following. Thanks. Here's the trading idea. But firstly... ============================== Quick Disclaimer: Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade. Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money. ============================== MANA could not break through its 12MA and continues to stay under the Red Extended Resistance Trend Line. Retracement now could bring MANA back down towards the Green Horizontal Bar. Further push to the downside will bring MANA towards the Purple Support Bar 2.48 to 2.21 Today's first order of business is to find support at 2.8 or down at the Green Support Bar at 2.7 - 2.6. MACD: Histogram - Bullish Divergence. Stoch RSI: Bullish Divergence. Always remember to place your Stop Loss. Price action is KING! More power to all your trades, my friends! Ron Intrepid_Trader
COINBASE:MANAUSD
by RSibayan
MANA in Persian means: permanentBefore going into the Rajab chart, let's talk about the news and the fandamental status of this currency ------ > As you know, a few days ago it was announced that the Australian tennis tournament will be held in decentraland. And that Samsung opened its own store in desentraland so on and so forth. But graph analysis After much growth due to the renaming of Facebook, mana had an upward trend to the price of $ 6 and then its price correction began.It currently has two major backers, one $ 2.49 and the other $ 1.58But how to enter: After the real failure of level 3.60, 30% of the money can be entered and after breaking the level of $ 4, bought another 40% and bought the remaining 30% after breaking the level of $ 5.21. Risk takers can buy their first 30% at $ 2.94 with a stop loss of $ 1.58, which is 36% of the loss with a profit margin of $ 5.21, which is a ratio of 1.3 which is a good number in r / r. Note: The loss limit for both systems is $ 1.58
BINANCE:MANAUSDLong
by aria1382
1
Still BullishYesterday's bullish scenario is unfolding today. The next couple of hours will be telling. I kept the same chart, deleted an arrow from the resistance line (red) to the support for a final potential short-term consolidating dip to avoid confusion. The pink descending wedge has the potential target for a $0.34 correction, right above the resistance depending upon where it breaks out. I'm not necessarily going to trade that, but I am definitely keeping an eye on it. It may break through, drop a little and then go higher? It may break down and retest $2.82ish? MACD looks excellent, curving upwards in preparation for this small but positive move as the red histogram is resolving too. Volume isn't horrific...people are still interested. I think the heartache comes from BTC. Let's face it, it's the Kleenex of crypto. People are starting to figure out that it's original concept was brilliant, but it's application isn't sustainable or even usable when compared to Gen 2 and Gen 3 products. A lot of growing pains ahead as alts/btc pair increase and BTCers lose. As this happens you'll be tempted to freak out. I chose to relax because whatever token I'm into will tank and then recover at a greater rate than BTC. I will also use it to my advantage until the Alts become independent. Even if my alt is in the midst of a rally, I look at BTC as an indicator and sell because the alt is going to follow to some extent. This is not financial advice, just what I do to make a lot of money;-) Do your own research, learn who not to listen to in the process. I am not married to any token. I am just reporting what the chart patterns read, and today's analysis is very short-term.
BINANCEUS:MANAUSDLong
by keykomg