MANA Technical Analysis: Recovery Ready To Retest Fallout. 

Key technical points:

Past Performance of MANA

MANA coin price fell by 30% following the falling channel fallout, as the trend reached the $1.42 mark, which was previously above $2 in a matter of one week. But, buyers escaped an ebb below the $1.40 mark with an overnight 6% increase, resulting in the candlestick as a bullish piercing candle. 

Source-Tradingview

MANA Technical Analysis 

MANA price action shows a bullish breather after the downfall and projects a potential retest of the bearish breakout. Hence, the possibility of a bearish reversal to reach the $1 stills haunts the price chart.

The crucial daily EMAs are ready to achieve a bearish alignment as the high selling pressure reflects an increased possibility of 100 and 200-day EMA bearish crossover. Hence, the EMAs achieve a dynamic resistance status as the prices trade under them.

The RSI slope indicates a sharp reversal within the oversold zone attempting to surpass the 30% boundary, leading to a sideways trend. Hence, the indicator reflects high bearish pressure keeping the bearish growth under check. 

The MACD and signal lines continue to maintain a bearish alignment under the negative territory by avoiding multiple bearish crossovers. Moreover, the ongoing bearish trend in histograms implies a further continuation of the downtrend after a retest. 

In short, the MANA technical analysis reflects a formidable bearish pressure ready to suppress the bullish recovery.

Upcoming Trend 

MANA coin price shows a bullish reversal from the $1.40 mark resulting in a short retracement above the psychological mark of $1.50. However, the lack of bullish commitment is evident in the fall in trading volume. Hence, the retracement comes as a retest and a bull trap in disguise. 

Traders can expect the reversal to start from the $1.71 mark, but a fall under $1.40 will signal a selling spot. 

Resistance Levels: $1.50 and $1.71

Support Levels: $1.40 and $1.20