MANA Technical Analysis: Bullishness Grows Within Falling Channel

Key technical points:

Past Performance of MANA

MANA price action displays a falling expanding channel as the downfall gains momentum during the last six weeks. Since its inception, the bearish pattern breaks the market value by 62% and breaks under the $1 mark. However, the lucrative buying spot at $0.67 drove the prices back to the resistance trendline.

Source-Tradingview

MANA Technical Analysis 

MANA price action shows a diagonally bearish fall near the resistance trendline displaying a bullish refusal to reverse. Hence, the weakness in the underlying bearishness is evident and displays increasing breakout potential.

A cross-section that is bullish-oriented MACD and signal lines when the bullish trend grows indicate a possible buying opportunity. Furthermore, the bullish refusal to initiate the correction can cause VI lines within the Vortex indicator to connect with a crossover in the direction of bulls.

The Stochastic RSI indicator shows a falling trend of the K and D lines representing a potential fall restarting the bear cycle, driving the market value under $1. Hence, the indicators represent a solid underlying bullishness

In short, the MANA technical analysis showcases a bullish breakout possibility ready to restart an uptrend.

Upcoming Trend

With the increased chances of a bullish breakout, the bullish rally could reach $1.43 and then possibly over it to get to $1.65. However, should sellers decide to keep the market price lower than $1, it would fall to $0.67.

Resistance Levels: $1.08 and $1.43

Support Levels: $1 and $0.67