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MANAUSDT trade ideas

MANA — Can It Get Even More Bearish? (Spoiler: Yes)Certainly, MANA is among the top 10 worst-performing tokens. While having reached a top of almost $6 during the last bull run, it has now reached the lowest level since 2021: 26 cents! Even worse, MANA is struggling to hold above the most essential support line, sitting at 0.24. Breaking this level in 2021 was the start of a massive run. I know that many people suggest accumulating at this level. It won't get much cheaper, right? Well, in terms of MANA, I think both arguments are wrong. It is widely agreed that the next bull run will be different. Unlike the last run, it is unlikely that all tokens will pump like crazy. Therefore, tokens that have performed so poorly, like MANA, are likely to underperform (or not perform at all) in a bull run. In addition, there is a certain probability that MANA will go lower. If the market continues to be choppy and creates more downside momentum, MANA will likely break its support. That opens the door for another 75% drop. So, the only option I see for touching this token is shorting when it breaks its support.
Short
by ben_walther
MANA (Decentraland): Approaching SupportTrade setup : Price is in a Downtrend. It had a failed breakout from Falling Wedge pattern but price did make a Higher High (above prior swing high), which is also a positive sign (see chart). Now we'll wait for price to pull back and watch if it makes a Higher Low (above prior downswing low of $0.27). Series of Higher Highs and Higher Lows are indicative of an Uptrend. Pattern : Price is Approaching Support , which is a level where it could pause or reverse its recent decline, at least temporarily. Support is often a level where price has bounced up in the past, or potentially prior Resistance level that was broken. (concept known as polarity). Once price breaks below support, it can move lower to the next support level. Learn to trade key levels in Lesson 7. Trend : Short-term trend is Strong Down, Medium-term trend is Down and Long-term trend is Strong Down. Momentum : Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $0.27. Nearest Resistance Zone is $0.32, then $0.40.
Long
by altFINS
MANAUSDT Comprehensive Technical Analysis✨ Welcome to my channel. Here, we analyze a new crypto project or Forex pair every day. 📅 Let's dive into today's analysis, focusing on the MANAUSDT pair in the crypto market. 🗂 About the Project: Decentraland (MANA) is a decentralized virtual reality platform powered by the Ethereum blockchain. Users can create, experience, and monetize content and applications within this virtual world. MANA serves as the cryptocurrency used within the platform for transactions such as purchasing land and goods. 📅 Weekly Timeframe Analysis In this timeframe, MANA has experienced significant movements. Recently, it saw a downward trend, reflecting a broader market decline. MANA is currently testing a crucial support level around $0.1716 after a prolonged correction phase. 📈 If MANA stabilizes above $0.4133, we can anticipate bullish momentum potentially pushing the price towards the next resistance at $0.7816. Confirmation of a new upward trend will depend on candle stability above this level. 📉 Conversely, if MANA falls back into the range between $0.1716 and $0.4133 and stabilizes below $0.1716, it indicates a bearish trend continuation. The next critical support level would be around $0.1300. In both scenarios, volume analysis is crucial. A healthy trend should be supported by corresponding volume without any divergence. 📅 Daily Timeframe Analysis On the daily chart, MANA ranged around the $0.4133 level before initiating another downward wave. Currently, there is noticeable bearish momentum, and the price has found temporary support at $0.2890. 🧲 Given the current setup, stabilization below $0.2890 could signal another bearish wave. On the flip side, if the price moves above $0.3932, it could indicate the start of a bullish trend, targeting higher resistance levels. 📅 4-Hour Timeframe Analysis In the 4-hour timeframe, MANA has pulled back and reached the support at $0.2890. Volume analysis shows a decrease, indicating potential exhaustion of the recent downward movement. 📈 For short positions, the key levels to watch are $0.3158 and $0.3932, where price reactions could provide better entry points. 📉 For long positions, critical levels are $0.2890 and $0.2616. 📊 RSI Oscillator The RSI is currently ranging between 20.73 and 37.93 on different timeframes. Breaking these levels could provide confirmation for opening positions. However, always use these levels in conjunction with candle patterns and volume analysis to find the best entry and exit points. 📉 Given the current bearish signals in the daily and 4-hour timeframes, alongside the potential trend change in the weekly timeframe, I am inclined to open a short position. However, this is based on my trading strategy. Each trader should base their decisions on their strategies and risk management plans. ⚠️ Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research. 🫶 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
MANAUSDT Long Position Analysis✉️ Pair: MANAUSDT 📈 Direction: Long 💯 Leverage: Cross 5x - 10x - 20x 📊 Entry: $0.3000 ✅ Target 1: $0.3705 ✅ Target 2: $0.4823 ✅ Target 3: $0.5739 ✅ Target 4: $0.6959 ✅ Target 5: 🚀🚀🚀 ⛔️ Stop Loss: $0.2555 MANA has formed a falling wedge and has been rejected from both the descending resistance of the wedge and a horizontal resistance. It is currently trending towards the support line of the chart. If #MANA loses the next support, there is a high chance it drops to $0.30, presenting a good dip buy opportunity. 📊 🔔 For more updates, follow me and don`t forget to hit the BOOST :D
Long
by clasaicrypto
MANA Technical Analysis: Potential for a 200%+ Rally!Hello everyone, I’m Cryptorphic. For the past seven years, I’ve been sharing insightful charts and analysis. Follow me for: ~ Unbiased analyses on trending altcoins. ~ Identifying altcoins with 10x-50x potential. ~ Futures trade setups. ~ Daily updates on Bitcoin and Ethereum. ~ High time frame (HTF) market bottom and top calls. ~ Short-term market movements. ~ Charts supported by critical fundamentals. Now, let’s dive into this chart analysis: After a heavy 68% drop, MANA has finally reached the lower support level and is currently showing a rebound. The lower support line has remained strong for MANA since December 2022, and so far, it has respected the support trendline. If MANA follows the uptrend and breaks above the 21 EMA, then a bullish rally is likely possible. - Lower Support: $0.243 to $0.29 - Primary Resistance: $0.401 - Target: $0.766 - RSI: Oversold - Invalidation Point: A breakdown below the supporting trendline. DYOR, NFA. Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see! Thank you! #PEACE
Long
by Cryptorphic
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
MANA/USDT Weekly Analysis : Key Support and ResistanceBINANCE:MANAUSDT The image is a weekly trading chart for MANA/USDT (Decentraland/TetherUS) from TradingView. Here are some key observations from the chart: 1. **Current Price**: The current price of MANA is $0.3454. 2. **Historical Highs and Lows**: - The highest price shown on the chart is approximately $5.90. - Significant resistance levels are marked around $0.988 and $1.4975. 3. **Volume Profile**: - There is a significant amount of trading volume clustered around the $0.7051 level. - Another cluster of high volume is observed around the $1.4975 level. 4. **Support and Resistance Zones**: - The chart shows major support around the $0.25 level. - Major resistance levels are highlighted around $0.988, $1.4975, and further up towards the $5.90 region. 5. **Price Movement**: - The price has experienced significant fluctuations, reaching its peak around $5.90 before descending. - Recent price movements have been fluctuating around the $0.25 to $0.35 range.
Long
by Motivation_Voice
MANA Technical AnalysisMANA is in a bearish trend with the price trading below the EMA 200, after rejecting from it the price declined to the $0.3231 support level and holding above it. If the price manages to hold above at $0.3231 level we could expect a bounce back to the next levels. If the price fails to hold the $ 0.3231 level it will move towards the next support zone Yellow at $0.2638 - $0.2845.Which is the best buying zone. While the price is holding above at $0.3380 we can take some entries here and do some entry at the next Yellow zone. The volume will also be a key factor to watch as it can provide insights into the strength of any potential moves.
Long
by TheCryptoCity
Will MANA Support hold ? Get ready for both scenariosBINANCE:MANAUSDT (1W CHART) Technical Analysis Update MANA is currently trading at $0.331 and price is trading around its support zone, we are not sure if this support will hold and price bounce back from this support zone. We need to consider both scenario for entering the trade here, for long trade we will enter only after a green weekly candle above the support zone. For short trade we will enter if the candle closes below the support zone. -- LONG Trade -- Entry level: Green Weekly candle above support zone Stop Loss Level: $ 0.2526 TakeProfit 1: $ 0.4561 TakeProfit 2: $ 0.5931 TakeProfit 3: $ 0.7804 -- SHORT Trade -- Entry level: Candle close below support zone Stop Loss Level: $ 0.3487 TakeProfit 1: $ 0.2038 TakeProfit 2: $ 0.1644 TakeProfit 3: $ 0.1198 Max Leverage: 2x Position Size: 1% of capital Remember to set your stop loss. Follow our TradingView account for more technical analysis updates. | Like, share, and comment your thoughts. Cheers GreenCrypto
by GreenCryptoTrades
MANA (DECENTRALAND) SHOULD PUMP FROM HERE - 19/6/24 I have other scenario but this is more appealing. Truth is, even though I predicted all this fall and blood bathe we are seeing on ALTS, it is scary now that it has happen and the little doubt creeps in but I am going to hold my conviction till proven otherwise. One I still believe in is BINANCE:MANAUSDT and the perfect time is now. The invalidation level is simply the last previous low. It is over 20 risk reward ratio if average entry is from here. OTHER ANALYSIS COINBASE:ADAUSDT BINANCE:LINKUSDT OKX:CFGUSDT BINANCE:APEUSDT BINANCE:ARBUSDT
Long
by DewyCandles