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MANAUSD Perpetual Swap Contract

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MANAUSD.P trade ideas

Decentraland MANA 23% drop or 60% pumpHello all. Looking at MANAUSD on the weekly timeframe, we see that this coin has broken bearish out of the (white) falling channel/descending channel. Currently MANA is inside the green up-trending/ascending channel. On the daily as well as on the weekly mana failed to break above the $3.5 psychological price barrier. Currently mana is due to a retest and here are the scenarios where and why the price can go next. Bearish scenario: If mana fails to break above $3.5, I would expect mana to retest the bottom of the channel at around $2.5. This is where the daily 200 EMA is currently. From the current price to the bottom of the channel it is a 24% drop. Bullish scenario: In case mana break above $3.5, I would look for the price to reach first the fibonacci golden pocket at $4.3-$4.5, and then $5.9 the top of the channel. From the current price to the top of the channel it is a 60% up. The stochastic RSI is very bullish, as it has never been so oversold and with a reading below 20. Thanks for reading, and stay tuned. Enjoy.
COINBASE:MANAUSD
by EdgarTigranyan
2
MANA - STRONG MOMENTUM, STAYING ABOVE ITS MAs! What's Next?Happy Money Monday, Traders! Hope you find value from this post. If you did, pls like and consider following. Here's a 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. This is only trading opinion. Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money. ============================= MANA continues to trade above its 12, 21 and 50 Moving Averages but as of this time of writing is undecided (currently has a Doji Candle) if it should push further up or retrace. So, what's happening next? A. If MANA pushes further upwards, the 50% Fib Level above is the immediate target @ $3.811 B. Retracement from here could bring MANA down to its 50MA which could have a confluence and rendezvous at the 23.6% Fib below @ $2.99 and could also find support from the Green Support Extended Trend Line. The 12MA is also fast rising and could approach price action at the rendezvous. Just be aware that on the 1HR chart, there's a Bearish Divergence on the MACD against the price action. Previous resistance and support level was around $2.9 C. MANA could consolidate sideways towards the Green Support Extended Trend Line, then decide whether to push higher or break support. MACD: Crossed the Zero Level 2-3 days ago, and possibly continue pushing higher but only price action can dictate it Stoch RSI (1Wk TF): Oversold Region, it just crossed bullish after last week's close. Price action is KING! Always remember to place your Stop Loss. Patience and Discipline are KEYS to a successful trade. Trading is both a Science and an Art. Develop an intuition and listen to your instinct while following the rules putting emotions aside. If you have not yet developed it, you will develop this as long as you stay consistent with following the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle. Soon it will be your subconscious running your trades, again, much like when riding a bicycle the balancing is controlled by the subconscious part of your brain. Be PERSISTENT and stay PERSISTENT. Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView. If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this. More power to all your trades, my friends! Ron Intrepid_Trader
COINBASE:MANAUSD
by RSibayan
2
MANA By AcroScopicsWe gotten a very nice pop off the lower channel line and have risen above the last pivot high. I've drawn in a new set of dividing lines (can serve as support or resistance) where price is currently nudging above the top one. It is possible that price could hit the upper channel line where price may reverse back into the main channel. I'm going to move the Fibonacci lines once a new high is in place so we can see what the correction looks like. Thanks for all the LIKE, FOLLOW and COMMENTS! Check out our other Posts!
COINBASE:MANAUSD
by davidperkins1
$MANA showing some strengthThere will need to be confirmed with a strong close on the daily candle but it MANA is looking very bullish. It has broken a 2-month downtrend with gusto on good volume (roughly 12 million above the 20 day MA), passed a test of the 50 RSI, and is on the verge of a bullish MACD cross. With there now being ETF's for the Metaverse and awareness and adoption rapidly increasing, it is a no-brainer that MANA will go up in value as more and more users join the metaverse and increase transactions/advertisements/DAU/time spent in the metaverse. The technical set-up is really nice too.
COINBASE:MANAUSDLong
by EBITDAtiger
MANA By AcroScopicsI've been following MANA a while now and "found" a new potential up channel I've placed in Green on the chart, Price had a nice run up from the last pivot low...whether it's the bottom or not I don't know. But, price has fallen to the right, lower green channel line which also happens to be the 38.2% Fib Retracement Line. I've been listening to a poster that uses a system that says that if the retrace ends at 38.2%, then the probability is higher price will push to a new high above the last pivot high. Here's his link: www.tradingview.com I highly recommend! RSI is declining sharply and is well under the RSI ma, so price would need to see an abrupt turn around for this current set up to be valid. We'll see.
COINBASE:MANAUSD
by davidperkins1