Објављено пре 11 сати
Дана 13. јула, Децентралан (МАНА) price showcased its third reversal from the $0.76 support. The resulting run-up registered a 23.5% pump and breached the intermittent resistance of the descending trendline and the $0.94 level. Sustaining this breakout, the altcoin could reclaim the $1.13 mark.
Кључне тачке:
- The long-tail rejection candle monthly chart shows a high demand zone near $0.76 to $0.63 support
- The descending triangle breakout should drive the MANA price to $1.34
- Слом од подршке од 0.93 долара би поништио биковску тезу
Извор-Традингвиев
While the crypto market grappled with uncertainty over the past two months, the МАНА price action shaped into a descending triangle pattern. Such a bearish pattern usually encourages the continuation of the prevailing downtrend, with the breakdown of neckline support($0.76).
However, with the crypto market witnessing improvement in market sentiment since last week, the MANA price gave a bullish breakout from the pattern’s resistance trendline. Furthermore, with increasing volume, the altcoin jumped $6.3% today, currently trading at the $0.97 mark.
Meanwhile, the recovery has pierced a resistance zone of $0.94-$0.93, offering a higher footing for buyers to continue this rally. This robust rally will likely provoke a retirement to stabilize the buying pressure.
The expected pullback may retest the $0.93 flipped support to bolster the further rally. The potential rally should soar the MANA price 15.5% higher to hit $1.13.
Anyhow, as per the technical setup, the triangle pattern should lead the recovery rally to the $1.34 mark.
Conversely, if buyers fail to sustain above the $0.93 mark, the sellers may sink the MANA price back to $0.76 and continue the prevailing consolidation.
Технички индикатор
МАЦД индикатор: the fast and slow showcased a constant rally despite the falling price action, indicating growth in underlying bullishness. Moreover, the indicator shows a sharp spread between these lines accentuating a fast recovery rally.
ADX Indicator: A significant drop in ADX slope projected a loss of bearish momentum, which increases the buyers’ chances of maintaining a stable rally.
- Ниво отпора: 1.13 долара, 1.34 долара
- Support level: $0.94-$0.93, $0.76
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Source: https://coingape.com/markets/mana-price-analysis-can-trendline-breakout-free-mana-from-ongoing-consolidation/