MANA can bounce in the 200 EMAMain Scenario: Despite having lost -4.53% in the last 24-H MANA has been held by the 200-EMA in this 4-H chart and if it manages to bounce back we could have a long entry to look for profits of at least 3% trying to find the Fib Retracement of 50% of the last descent; The indicators are oversold and pointing up, we could possibly see a pullback in the pair and the start of a short uptrend.
Alternative Scenario: The price could cross the Pivot S1 and continue looking for the next support at 0.00001511.
Entry/Stop Loss/ Take Profit: We can go long if the price manages to cross 0.00001580 with 2 targets
T1 = 0.00001631 (3.2 %)
T2 = 0.00001675 (6.0 %)
The Stop Loss can be placed at 0.00001517 (-4.3%)
Duration: 1-2 Days
Consolidation/Ratification level: If the price crosses the first target, you can drag the stop loss to the entry point.
Warning Level: A further drop below the Pivot S1 will invalidate this setup.
Risk Management: Risk/Reward Ratio: 1.48.
