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MANA 35%-56% Rally!If BTC behaves, nothing is stopping MANA from rallying 35% or 56%, depending upon which path it follows. I put the Fib chart up, as I think MANA will face some resistance at $3.31. The C&H has a target of $3.90 (purple). The target from the massive descending wedge is $4.41 (green), 56% above today's high and 73% above the breakout. These targets both line up with the resistance lines (red dot) that I drew back on January 3rd which gives some confluence to these patterns' formation. There may be some typical resistance around $3.50 as well. RSI is 53 on the daily chart, with plenty of room to run. MANA may test support at $2.50, top of the channel it just broke, before heading up? These are just ideas and not financial advice. I'm looking for BTC to break $40k and $42k to be a catalyst for this rally.
BINANCEUS:MANAUSDLong
by keykomg
Still on track I love MATIC. I remember researching it back in early 2020, trading it around .017....liquidated it...some millionaire teen from England was moving millions from BTC and ETH over to the project and I just put my standard test amount of $3k at a dip to .013, watched it drop to .011, pit in my stomach grew, but let it ride until I received a notification a couple of months later when it sold at my .25 target...and of course, it spiked to .54 a week later...and then exploded. It is a great project and one of the earlier ones that I felt had more application than the other coins with low market capital at the time. I've been wanting to get back into MATIC, and finally took advantage of the last big dip, catching it at $1.35, above it's $1.30 bottom, upping my investment as it has proven itself as a major player. I'm not going to sell it this time around. Just going to trade it like crazy...I like its relative predictability. It's just a good product with real intrinsic value. As I indicated in a reply to viewer @majinjoe in the hour following my last post, the potential for a small dip to $1.50-$1.55. MATIC dipped to find good support at $1.53 area this morning. The C&H target doesn't necessarily change. How we get there does, slightly. I kept the old lines, added shorter-term targets to the chart and then a couple more should I have time to watch it like a hawk. One reason for me to watch closely is the forever potential for a downside. It is always important to be prepared. I don't really see anything crazy but will watch the potential for the formation of the descending channel in RED. I won't get spooked if it drops from the current 1.59 back to 1.54, creating a little "W" on its way back up to the resistance (15min chart). My short-term targets are $1.85, $1.96, $2.11-$2.15, and $2.19...followed by potential for $2.45 and $3.05. I don't recommend trading all of these levels because this is not financial advice...and they are risky trades. I've been keeping extremely tight Stop Losses these days and my MATIC is actually above what I paid for it @ $1.4498 and will surely buy back in @ $1.35, accumulating an extra 1000 tokens. Good luck.
MLong
by keykomg
3
MANA Decentraland: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Decentraland (MANAUSD). The chart is self-explanatory. Please review the chart for all my notes. Included in the chart: Trend line, Support and Resistance Lines, RSI, MFI, Resistance Zone, Ichimoku Cloud, Volume, Simple Moving Average. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. I have a bunch of additional recent charts below on cryptocurrencies to review. Check them out! Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
by MillionaireEconomics
Will the Fed's Interest Rate Hikes Be Good or Bad for Crypto?It's probably going to be a tough market in the short term, but the interest rate hikes of 22' is exactly what the economy needs right now. Reducing access to cheap loans should curb the frenzied markets, at least somewhat. (Though given how low the rates are projected to be, probably not enough.) What does this mean for crypto? Well, that's the big question everyone is asking now. They said that Evergrande and cryptocurrency would go down together, but that didn't turn out to be the case. Will the same happen to USD? In a way, 22' is going to be a big test for how resilient the USD really is. Politics has been warping the numbers lately but inflation is the lie detector that will reveal the truth about the US economy. American Exceptionalism? Or will it follow the same pattern China did? Time will tell. (If you're a crypto supporter like me, you're hoping for the latter, of course.)
Long
by RyanTanaka
Most crypto in for more painThe current recovery feels weak and trappy. A lot of traders are interpreting this as a potential bottom. In my opinion, it's much too early to call a bottom here. Most likely it's another dead cat bounce and another lower low will be incoming in the short term. The large support area shown is vast and it will most likely remain volatile to the downside for the short term as other major indexes reverse downward as well. Don't be fooled by multiple green days in a row, the general tendency is still pointing to more red.
Short
by MysteriousPersian
$RNDR AnalysisSupport turned into Resistance occurring on RNDR chart. Strong Breakthrough resistance, Now waiting for breakthrough long term downtrend. Will buy over $4. RNDR great project, is a distributed GPU rendering network built on top of the Ethereum blockchain, aiming to connect artists and studios in need of GPU compute power with mining partners willing to rent their GPU capabilities out. Their project is likely to be rendering projects in the metaverse.
RLong
by ashbeyinvestments
Minor retrace to support?This chart reviews how we got to where we are today. The Inverse H&S reached its target then dropped to the Fib .382. I put my buy at the .5 Fib. slightly panicked, all for not. From last week's low to the .382 Fib, a new baseline has been drawn. MANA has formed a symmetrical triangle and broken out and is forming a smaller one now. There could be a short-term trend change forming in a bearish ascending wedge (BLUE) that would have a target, not coincidently, at the RED support line. I am keeping an eye on 3 moves. 1. breaking the upper BLUE line and continuing with the ascending channel...or failing and returning to RED line, wherever that may be. 2. breaking the lower BLUE line, finding support at the lower GREEN ascending channel and continuing higher. 3. breaking from the small triangle that is forming with a target of $2.50, which, not coincidently, lines up with the center of the GREEN ascending wedge. 4. This is not financial advice.
BINANCEUS:MANAUSDLong
by keykomg