Is this a make or break for MANA? I'm thinking the overall market is going to level for the next couple of years to some degree until my optimistic bull jump in 2024+... It seems many, like MANA, SOL, MATIC, have boiled up and over, predicting a leveling mean average. Without looking at the industry or names of the data, which is really the best way to segregate bias in chart predictions in general.
MANAWBNB_728912.USD trade ideas
Setting up perfectly. To break $5 next?I love this chart and should thank the mana market for making me look good. One thing I like about charts, especially for beginners, is that it settles one's nerves. Tokens drop, a lot, but a chart is a good way for beginners to see the map and not panic...because it is anticipated. I always emphasize to beginners that there are no straight lines, up or down, in trading. And most importantly, don't panic. If you are panicking, you are probably risking too much capital and it is an indication that you are emotionally attached to your trading. I've never been divorced, but I hear emotions will lead to losing 1/2 your money.
You can see this chart from the other day is filling in, perfectly, even as a function of time, relatively. I just circled (red) all the handles. The current one is making the perfect triangle for the next leg up. One thing to note with low volume: triangle (handle in this case) may turn into a short-term descending channel before breaking out...they scare me a little because they can sometimes turn into a trend reversal as a result of the lower volume. I put the descending channel in light blue just to show you what it "could" look like. I am ignoring it for now. These are just ideas and not financial advice.
Lastly, to new traders and tweakers: Be careful. If you are investing and not trading, don't look at the chart every day...you'll go crazy. If you are learning to trade, don't use real money and practice first. There are sooo many methods to charting: E. Wave, Triangles that form ladders, Fibonacci, Clouds, etc...they are all analyzing the same data and for the most part are predicting the same end game. It is important to use several methods as a means of "confirmation" of ideas. The more support for an idea gives the idea more credibility. The cups are shapes of movement, whether the patterns are H&Shoulders, wedges, etc... I choose to illustrate with them because of their sexy curves.
MANA/USD, 1D CHART , COINBASEFind out here support and resistance of DECENTRALAND {MANA}
facing resistance at $3.95 - $4.05 [@ Fibonacci golden ration 0.618 }
closing above { fib ratio 0.618 } that is above $4 then our next target will be $4.80 -$5
support at $3.33 { fibonacci 0.5 }
critical support would be $2.72 {fibonacci 0.382 }
Important notice :-- This is not a piece of financial advice ,all investment made by me are under my own risk and i am only responsible for my own profit and losses.
So please do your own research before investing .
MANA 30% move incomingHello all. There is no major change in mana chart since my last update so i will keep this short.
Mana has formed a symmetrical triangle which is more vivd on the 4hr chart. This pattern has equal chances of breaking upside or downside. The apex of the triangle is very close, and will break on or around December 10th.
Depending on BTC's performance, Mana will either break up towards the fib golden pocket, or retest the previous low.
But what an over sold RSI we have on the daily. Makes me want to open more longs.
Mana also trades above the purple resistance line of the descending channel and above the 50 day EMA.
I see equal chances of breaking upside or downside so be cautious on this one.
Check out my other charts on mana if you missed my previous updates.
Thanks for reading, and stay tuned. Enjoy.
MANAUSD (4H) Bullish reversalHi Traders
MANAUSD (4H Timeframe)
Waiting for the upward break of 4.25 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 3.22 would cancel the bullish scenario.
Trade details
Entry: 4.25
Stop loss: 3.22
Take profit 1: 4.87
Take profit 2: 5.89
Score: 6
Strategy: Bullish reversal
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MANA in a pitchfork, starting wave 5, targeting $10? MANA appears to be inside a pitchfork establishing support and resistance zones.
A-B-C correction may be completed.
Look at the fib levels and the profit targets ($7, $8, $10)
Trendline breakout in progress, watch $4.30, that could induce PAMP.
Good Luck
Watch out! MANA is forming a rising wedge (Bearish)BINANCE:MANAUSD is forming a rising wedge which typically has bearish implications. If it breaks down from here and gives a daily close below the lower channel line of the wedge then prices may potentially fall below 2. No harm done till the channel isn't broken on a closing basis. Keep an eye!
MANA. Git sum.MANA.
Boy oh boy. What a move. And THIS- my friends- is why I LOVE fibs so much. What a move up with the FB Metaverse news, but what is even neater is how we have managed to so beautifully retrace this move. With the parabolic move up came a nearly just as fast retracement; HOWEVER, we held the important fib pivots nearly perfectly. First trading right back to halfback and then ping-ponging up to touch the 0.618 extension and then down to the 0.382 and end up back at the 0.618 extension today. Hard to imagine this entire move has happened in barely more than a week, but such is life in the cryptosphere! We may just see it continue to bounce around these levels for a bit longer while we build up some more pressure here to be able to go for another run. We could also attempt to reclaim the 0.618 on a daily close and try to shoot off some more right away, but more likely that we move around this level for a bit before continuing higher. And this would be a good thing to help give the eventual push up move more juice in the engine.
I have long-term HODL on this along with an intermediate time-frame swing that I did take half profit off at the 0.618 extension this am. Will keep the other half on just in case it does decide to shoot off again, but have orders to get back in the full swing size. 50% at the halfback $2.85 and 50% at $2.40. No clue if or when they will fill, but the orders are there just in case they do and the plan is in place.
My long-term MANA I may never sell....lol.... I anticipate great things here, but as always I always reserve the right to change my mind whenever I want and as often as I want. These are just my 2 cents and a nickel, take them or leave them 😉