MANA Technical Analysis: Last Steps Before The Price Reversing
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In fact, from February 2022, sellers are trying to lower the MANA price again to $1.8, but these attempts still look pathetic. For maximum certainty about the feasibility of investing in the MANA cryptocurrency in the current price range, we should wait for the test of the lower trend line of the growth channel. In the event of an increase in trading volumes and the formation of pins down on the weekly timeframe, we will receive the final signal to buy MANA.
The first target, where you can fix the return on investment is the mark of $3.54. On this mark, there is a liquidity range of sellers, which for the first time buyers may not be able to pass. However, after a local price rebound to $2.2, we expect the growth wave to continue with the next target of $5.4.
Technical Analysis Of MANA On The Daily Timeframe
Analyzing the movement of MANA price on the daily timeframe, we see an incomprehensible modesty of buyers. At a time when the forces of sellers in this price range are almost exhausted, buyers are not making any effort to change the market situation in their favor. Take for example 11 April breakdown of the local liquidity zone of $2.27. The breakdown occurred in small volumes. After this breakdown, sellers completely retreated, passing the initiative into the hands of buyers. What to do with this initiative - buyers have not decided. And for 10 days the MANA price has been moving in consolidation under the liquidity range of $2.27. This price behaviour suggests that a decrease in the MANA price is highly likely. It is too early to buy this cryptocurrency in the medium term. Until you test the $1.8 mark or fix the price at the $2.27 mark, you should be patient and wait.
MANABTC Price Predicts Price Fall By 30%
Unfortunately, the positive for investors is becoming less after the analysis of the MANABTC chart. In the weekly timeframe, we see that sellers without much effort, small stable candles intend to push the price below the range of 0.0000495. Below this range, the nearest liquidity zone that can stop the local downward trend from November 2021 is 0.000039. Although in history there is no noticeable consolidation. Near this mark is a global trend line of buyers, which they keep since December 2020. Therefore, we expect a rebound from the mark of 0.000039.