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Decentraland

Bitcoin's Parabolic Potential & MANA's Key Levels Revealed📅 Let's dive into today's analysis. We are focusing on the crypto market, where we've seen an upward move, and Bitcoin is at a critical and exciting position. The coin I'll be analyzing today is MANA. 👑 Bitcoin Analysis 🔍 Bitcoin Technical Analysis In the 1-hour timeframe, Bitcoin has started to correct after reaching the 59323 support level and has now created a bullish structure in this timeframe, reaching the 63700 resistance level. A correction to 0.382 of this upward wave has been made, creating a box between 36700 and 62634. 🧲 Trend Line Analysis Additionally, there is a curved trend line supporting the price. Since this line is curved, it could trigger a parabolic movement in the market. Conversely, if this trend line breaks, we might witness another sharp drop in the market. 📊 Volume Analysis The market volume is ranging and is neither converging with buyers nor sellers. The direction will likely depend on which side increases its volume. 📈 Long Position Strategy Long Position: We can enter a long position with a break above 63700, targeting 64530 as the first target. A riskier trigger is at 63122. RSI stabilization above the 55.87 resistance can act as confirmation for these positions. 📉 Short Position Strategy Short Position: For a short position, first wait for a candle to stabilize below the curved trend line and activate the 62634 trigger. The second trigger is breaking the trend line at 62168. The RSI confirmation trigger is at 40.72. 🔍 MANA Analysis 🗂 Project Overview Decentraland is a crypto and metaverse project where everyone can buy land and introduce their projects to others. The native token of this platform is MANA, and all transactions on this platform are conducted using this token. 🧲 Trend Line Analysis In the 4-hour timeframe, this coin has started a downward trend from 0.4832 and dropped to the 0.3170 support level. After reaching this support, it corrected up to 0.236 and created a range box. This coin also has an upward curved trend line that could trigger a parabolic movement in the coin. 📈 Long Position Strategy Long Position: Stabilizing the candle above the 0.236 area could push the price upward, creating bullish momentum to move towards the 0.5 Fibonacci area, which coincides with 0.3896. For this position, buying volume must enter the market, and the RSI trigger is at 59.26. 📉 Short Position Strategy Short Position: For a short position, first wait for the curved trend line to break. For additional confirmation, we have two triggers: the first is at 0.3287, and the second is at 0.3170. If these levels break, we can expect the price to move down to 0.2792 based on Fibonacci Extension. Personally, I would open a position with a break below 0.3170 only if the selling volume increases and the RSI is below 50. Otherwise, I will wait for a break below 0.2792. 📝 Conclusion In conclusion, both Bitcoin and MANA are showing critical levels that could determine their next major moves. Bitcoin's parabolic potential hinges on its curved trend line support, while MANA's future depends on its range and trend line dynamics. Keep an eye on the volume and RSI confirmations for better entry points. 🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2. 🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
by itsparham96
1
Bitcoin Weekly TA : Bitcoin Poised for Next Bullish Run (READ)By analyzing the Bitcoin chart on the weekly (logarithmic) timeframe, we observe that, as expected, the price corrected to $58,400 and encountered buying pressure. Currently, Bitcoin is trading around $63,000, having increased by 9%. If the price can stabilize and close above $63,300 this week, we can expect the start of the next bullish trend. Based on previous analyses, the mid-term targets for Bitcoin are $72,000, $77,000, $85,000, and $100,000. Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
Long
by ArmanShabanTrading
8
Decentraland a.k.a. MANAUSD May Have Formed A Bullish SetupDecentraland with ticker MANAUSD may have formed a nice textbook bullish setup formation. We see a five-wave rally into wave A/1 from the lows, followed by an a-b-c correction in wave B/2 right into the former wave "iv" and 61,8% Fibo. support area. So, it can lift the price higher within wave C or 3 towards 1.0 area for wave C or maybe even higher for wave 3. We can actually already see it breaking above channel resistance line, but to confirm that wave C or 3 is in play, we need to see a recovery back above 0.55 region.
BINANCE:MANAUSDLong
by ew-forecast
📈MANA Analysis: Identifying Entry Points❗️🔍Today presents an opportune moment for opening positions as the market structure offers potential entry points upon breaking support or resistance lines. Bitcoin's rejection from $64,437 yesterday prompted altcoins to establish lower resistance levels. One such altcoin is MANA, representing the Decentraland project, which, despite previous bullish rallies, now offers a favorable entry opportunity. While the project's fundamentals are significant, our focus lies solely on pinpointing entry points for futures trading. 🎯In line with my preferred strategy, the classic technical analysis approach of identifying breakouts serves as the cornerstone. Personally, I've found this strategy combined with prudent capital management to be remarkably effective. However, it's crucial to acknowledge that each trader must develop their own tailored strategy, as no two traders' nuances can be identical. 📉For a short position, the breakout below the POC fixed range volume profile, while overlapping with short-term support, could provide a low-risk entry. Nonetheless, the primary entry point remains at $0.4056. If entering a position following the POC breakdown, I recommend aiming for risk-to-reward ratios of 2 or 3, aligning with previous analyses' emphasis on lower ratios until major triggers for long or short positions emerge. 📈Patience is key for a long position, waiting for the breakout of the descending trendline and activation of the trigger at $0.4557. In this scenario, a short-term scalp position can be taken. However, refrain from expecting high risk-to-reward ratios until breaking out of the primary box, focusing on ratios of around 2-3 until $0.4977 is surpassed. 🎲Maintaining minimal exposure within the $0.4056 to $0.4977 range is advisable. When entering positions, particularly during the breakdown of major triggers, closing positions upon signs of price reversal is prudent. In case of box breakdowns, the initial low-risk target is $0.3325, followed by $0.5662. However, it's paramount to exercise patience and observe price signals before closing positions post-trigger breakdown. 💥While RSI may not be applicable in a ranging market, it can serve as a helpful tool for setting targets and securing profits. Avoid closing positions if major triggers are breached and RSI enters overbought or oversold territory, as significant price movements may follow. 📊During position entry, monitor candlestick volumes, ensuring alignment with the intended position direction, and avoid entry during divergence. 📝In conclusion, today's analysis underscores the importance of a strategic approach tailored to individual trading styles. By adhering to well-defined entry and risk management protocols, traders can navigate market fluctuations effectively. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
MANA is very bullishThe diametric of the big wave B is over and we are now in the big wave C which is very bullish Price is just looking for a support to start a big rally. By maintaining the green range, it can move towards the TPs. Closing a daily candle below the invalidation level will violate the analysis For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
Long
by behdark
1
📈Weekly Analysis: Bullish Signals for MANA🔥🔍Today is Sunday, marking the end of the week and typically low trading volume. Hence, we'll analyze the weekly timeframe for Mana against USD for potential insights. On this timeframe, Mana has reached a supply zone, evidenced by a bearish engulfing candle. However, the current candle is showing signs of buyer strength. 📈If this candle closes bullish, we can consider a pullback to the level of $0.5517, supported by the 7-period Simple Moving Average (SMA). Additionally, Fibonacci retracement levels indicate that we've reached the 1 extension point, suggesting a consolidation phase. For higher targets, $1.0989 could be considered, overlapping with the 1.414 extension. 📊Volume is decreasing during this correction, signaling a healthy trend. The Relative Strength Index (RSI) previously faked an overbought condition and could potentially surge upwards again. 🛒Buying on the confirmation of the current candle closing bullish seems opportune. 🧠💼Just remember, jumping into trades too quickly before the main trigger can be risky. Always manage your money wisely and be aware of the risks involved.
Long
by itsparham96
Decentraland (MANAUSDT) Bullish Breakout LoomsDecentraland (MANAUSDT), currently trading at $0.80, appears poised for a bullish breakout, fueled by growth in its NFT Marketplace . A potential surge in price, with the first target resistance set at $1.14, followed by $3.58, and a final ambitious target of $6.00. While past performance is not necessarily indicative of future results, a breakout above current resistance levels could signal a significant increase in investor confidence and trading activity for MANA. It's important to remember that the cryptocurrency market is inherently volatile, and these are just predictions. Investors should always conduct their own research before making any investment decisions.
Long
by Z4F4R
Mana in a similar bear flag as gala was.Just like my previous idea I posted on gala, mana is also currently inside a similar bear flag where the flag is also a descending channel. The full breakdown target for this would be negative 1.80 so I think it’s more likely this bear flag breaks upward…the descending channel on its own usually breaks up so often when you see it as the flag of a bear flag it can increase the likelihood the bear flag breaks upward instead of down like they usually do. It could still break downward and not hit the full 100% breakdown target of course but I think its more likely it could break upward…it could also only reach the smaller bullish breakout target of just the channel instead of breaking up the length of the bearflag’s pole. Will have to wait and see….unlike gala we aren’t seeing any super significant bullish volume candles on mana yet, it also has zero candles above its channel as of yet…but that could change in the very near future. It has slightly less breakout potential as gala currently has as it would only go roughly 3x if it reached the top price target where gala could as much as 5x. *not financial advice*
COINBASE:MANAUSD
by DrDovetail
3
MANA/USDT upward momentum?👀🚀MANA Today Analysis💎 Paradisers, it’s time to spotlight #MANAUSDT as it’s showing promising signs of a bullish move. This comes after a key resistance level has transformed into a potential springboard for growth. 💎 Diving into #Decentraland recent market path, it has successfully navigated a descending trendline, breaking upwards. After a rejection at the resistance of $0.5117 and a retest of the trendline, it made a strong move upwards, turning the previous resistance into a support zone. 💎 Currently stationed at this new support level of $0.5117, if #MANA maintains its momentum, we might see a significant bullish movement. 💎 However, for the astute traders among us, it’s crucial to have a Plan B. If #MANA slips below this support level of $0.5117, we should be prepared for a bullish recovery from a slightly lower support at $0.4940. Notably, a breach below this secondary support could lead to a more pronounced downward trend. 🌴💰
Long
by MyCryptoParadise
1
Decentraland (MANA): Deep DiveDecentraland (MANA) is not just another altcoin, but rather a revolutionary blockchain-based virtual reality platform that gives users the power to create and explore their own 3D environments. MANA Coin has the potential to reach new heights in the future due to its strong community support. The maximum price level of the MANA Coin will stay around $2.67 by the end of 2023. If the crypto market goes smoothly, the average price value of the MANA Coin can be trading at around $1.71 in 2023. While the minimum price level of the MANA Coin can fall to $0.93 by 2023 if the market shows a bearish environment. However, we are expecting a bullish rally by this year and the price of the MANA Coin will increase significantly in the year’s second half.
Long
by DEXWireNews
2
MANAUSD above the 1D MA200 after 6 months. Bullish confirmed.Decentraland crossed today over the 1D MA200 and if it closes the day there, it will be the first time since April 22nd 2023 to do so. It may remain inside the 10 month Channel Down but crossing over the 1D MA200 where it had the last major rejection (June 5th) is strong enough to cause a breakout. Especially since this rally originated on a 1D RSI Bullish Divergence. The overbought 1D technical outlook (RSI = 73.919, MACD = 0.023, ADX = 49.040) may cause a minor rejection near the R1 level but we expect to hit R2 (TP = 0.53450) before the end of the year. The only condition is for the 1D MA50 to hold. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:MANAUSDLong
by InvestingScope