MANAUSD trade ideas
Bullflag on MANAHi all,
Pleaese not this it no financial advice but just my view on how the MANA chart is developing itself.
Despite a small decline it looks like MANA is actually forming a big bullflag. It looks like it has just broken out and made a pullback to the flag. Based on this pattern I expect that a further increase can be expected.
I have shown on the chart where and how I expect this chart to develop, but with these crazy increases you of course never know.
Good luck!
MANAUSD Descending WedgeA descending trend line since the ATH yesterday is visible on the hourly chart with multiple spikes occurring due to pump and dumps and/or covering of short positions (though I have not done enough research on short interest on MANA - likely bag holders are exiting positions with each new spike). $2.557 seems to be a crucial price of supply meets demand since October 30. Combine this price with the aforementioned descending trend line we see a descending wedge forming.
I anticipate a breakout from this pattern in the next few hours. A breakout down might imply further sell off to $2.1533, then further to $1.69. This collapse may be interrupted by the larger, bullish trend (which, from my interpretation, began on October 28). On the other hand, a breakout up may be met with supply/resistance at $3.43, from where a parallel channel may form (with $2.557 being support/demand zone) until the next large influx or efflux of volume. A breakout above $3.43 may imply further price movement toward $3.887, then potentially a retest of the ATH ($4.99).
The price targets I provide are my own anecdotal opinions and I observe them making room for error.
Regardless, volume is dying. The hype is waning. MANA volatility may wane similarly to other meme assets such as DOGE and GME. The purpose of this post is so future me learns from what I theoretically predict and what actually occurs.
MANA ! Wealth Creation. Swing Trade Idea!Mana is looking like it’s getting Support on MAon smaller time frame.
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$10 Minimum (This is my first idea on this website)Idk what's in store for this cycle per say, but there's pretty much no chance this doesn't go to $10 at some point. Lots of new money AND big money flowing into crypto, especially into projects like these that actually have utility and potential for actual human engagement. This pump has been insane... lmao
MY MINIMALIST ANALYSIS OF DECENTRALAND$MANA
10.31.21
623H +8 SINGAPORE
SUCCESS! CONGRATULATIONS TO THOSE WHO SHAVED OFF PROFITS FROM THE EXIT AREA OF VALUE.
WE ARE NOW AT THE BEYOND PARABOLIC ZONE AND FOMO SETTING IN. You may shave off some profits again.
I will have to check the Fundamentals now if it will still have the strength to push further upwards.
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ALERT: ENTRIES, PARTIAL EXITS, EXITS, and MAXIMIZED AREAS OF VALUE
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Disclaimer:
The findings of the following analysis are the sole opinions of the publisher of this idea and should not be taken as a piece of investment advice.
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HOW TO USE THIS MINIMALIST CHART
Created on a MONTHLY, WEEKLY & DAILY Analysis (The Dynamics of the Market.)
It is designed for SWING TRADES at the BOTTOM. I do not SHORT, though, you can still use it.
TARGET ZONES IDENTIFICATION
The LARGE BOXES (Tops and Bottoms) are MAJOR pivot points that will occur sometime in the future. While the SMALL BOXES (Tops and Bottoms) are MINOR pivot points.
These can be entries to a BUY/ SELL POSITION, EXIT/PARTIAL EXIT/TOP-UP AREAS
and if you wish to hold longer for a MAXIMUM TARGET EXIT AREA OF VALUE -CONSERVATIVE (If price action conditions are right.)
At times I include WAY BEYOND PARABOLIC Price TARGETS depending on The Character of the Market.
Watch out for your Volume, Chart Patterns, Candlestick Math, Price Action, Fibs, Market Dynamics, and especially trading psychology.
Note: This CHART is best used without indicators.
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