Key technical points:
Past Performance of MANA
MANA market value shows a bullish reversal from the $0.92 mark after the short-coming downtrend due to the rejection near the resistance trendline. The sudden reversal comes with a morning star pattern and leads to the descending expanding channel breakout. Furthermore, the breakout rally surpasses the crucial psychological mark of $1.
Source-tradingview
MANA coin price shows a bullish recovery with a small but significant rise in the trading volume, projecting bullish support to the breakout rally. Hence, the breakout rally has increased the chances of sustenance above $1. The MACD indicator displays the fast and slow lines keeping a bullish alignment as they get closer to their zero point while avoiding a bearish crossover. In addition, the bullish histogram speeds up following the resting phase, which indicates the revival of bullish powers.
The Vortex and DMI indicators show a high likelihood bullish crossover event as the bearish spread decreases between the DI and VI. Hence, traders can expect the trend reversal crossover event as an entry spot. In a nutshell, MANA technical analysis indicates a high likelihood of a bullish rally sustaining above $1.
If the breakout rally sustains above the $1 mark, MANA prices will reach the upcoming resistance level of $1.50 and increase the chances of reaching $2. However, a retracement to retest the broken is possible.
Resistance Levels: $1.50 and $2
Support Levels: $1 and $0.69