MANA Technical Analysis: There Is Strength - There Will Be Growth
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Starting in February 2022, sellers began a local correction of the MANA price. However, the size of the candles and the trading volumes by which sellers implement their initiative speak of their complete depletion. The braking of the MANA price started with the weekly candle on 21 February. The reason was the local mark of $2.21. Since then, sellers have not been able to update this mark. And within a week of 14 March, buyers launched a counterattack. If in the case of other cryptocurrencies that are in total depression, we forecast local price growth, in the case of MANA, the formation of a medium-term growth wave is possible.
The first target of buyers is $3.57. At this mark, sellers began to slow down a strong growth trend in October 2021. Therefore, local correction is possible from this mark. However, if buyers keep the range of $2.5 during the probable correction, we will see the MANA price continue to grow to $5.2.
Technical Analysis Of MANA On The Daily Timeframe
If you look at the situation in the MANA market more locally, you can see some local problems for buyers. The daily timeframe shows that sellers managed to take control of the local mark of $2.55. Initially, on 24 February, sellers on high volumes with a false break "stitched" this mark down. However, at that time, buyers were able to keep the situation and began a rebound. Though, at $2.9, sellers continued their aggression and took control of $2.55.
Therefore, in order to start the active phase of MANA price growth, buyers need to take control of $2.55 and confidently establish themselves above this mark. At the moment, passivity is observed on the part of both buyers and sellers. At this time, it is most dangerous to make deals, as the price can start the active phase of the movement without local corrections. If buyers can only test the mark of $2.55 - in this case, we will expect the continuation of the MANA global correction to the mark of $1.7.
The MANABTC Price Is Again Testing The 0.000054 Range
Even better to continue the growth trend of the MANA cryptocurrency looks paired to BTC. If the MANAUSDT price is almost close to the bottom trend line, then in the case of MANABTC the correction is in the form of consolidation. At the time of writing, sellers are testing a core liquidity range of 0.000054. In this range, the MANABTC price growth was suspended during October-November 2021.
So far, in the weekly timeframe there is no noticeable aggression on the size of candles or trading volumes. Such a scenario happens in the event of an aggressive BTC price growth. In this case, investors will first actively invest in Bitcoin, and then it will be the turn of altcoins.