keykomg

After almost hitting $0.39, MANA found support at $0.355, a trend line that began in August 2022! MANA has since rebounded, pushing $0.42 and may retrace to $0.38 area before heading to $0.52 zone, and then $0.70. These ideas are my own and you should do your own research. MANA is not simply responding to the overall crypto market. They have recently partnered with Mastercard for transactions, and a bridge network with Sandbox.

Who knows how the markets will respond to the Fed on Wednesday and Friday this week? It doesn't have to make sense. Inflation should have bolstered crypto because it's inflation-proof by design...but that didn't happen last year. This just means, for me, I will keep a close eye with tight stop losses. MANA is currently set up to at least revisit the resistance of the ascending channel (green), around $0.82. Following its rejection at $0.81, MANA has consolidated around the middle of the channel and is showing strength as it follows support (red dashed line). It may retrace back into the channel before heading higher to the low-mid $0.90s. The MACD isn't horrible and beginning to tilt upwards to cross into bullish territory. This post is not financial advice.

MANA is invalidating the Bearish M pattern. The current Inverse H&S has a target of around $1.22 (Green). This will set up a greater Inverse H&S (Pink), with a future target in the $2.15 range.

Same chart as two days ago...still consolidating within range. As much as it is following the parallel channel(s) for a bullish scenario, should supports fail, the bearish M pattern is still on the table. Just below $0.81 and again at $0.91 will bring resistance should MANA break higher. A drop below $0.59 would invalidate the C&H. This is not financial advice. Keep an eye on the price. Apple news is always great, but they will ultimately do their own thing...because that's what Apple does. Do you own VR products or just trade? Adoption is key...consider investing in some hardware.

MANA broke the resistance of the macro descending channel (orange) 4 days ago and is currently still above that zone. Although there is a potential 'M' pattern forming (red), there is tremendous support all the way down to $0.59. I think the latest momentum and industry growth leans toward a more bullish scenario. Although these are simply my views and not financial advice, I believe MANA is going to follow the micro descending channel (aqua) as part of a greater ascending channel (green) as it completes a cup and handle pattern that began November 4, 2022. Should MANA break below these channels, in favor of the M pattern (red), I would expect the price to dip back to the $0.30 area.MANA is following the chart on Binance.us. Even though there is significant support around $0.60, I'm keeping a tight stop loss at $0.6550. Should it break below that, $0.60 would be it's next support at best. MANA is currently hugging the middle of the descending channel (aqua). A break above $0.725 would be very bullish, sending MANA to the $0.81 range. A break above the ascending channel (green) would be the next step in it's approach to the $1.20-$1.26 discussed in yesterday's analysis. Good luck and remember that this is not financial advice. Crunch your own numbers and let me know what you think. We will have a lot more information this time tomorrow. Based on historical behavior, I think that MANA would have already made a deeper correction in-line with the potential M pattern. As it is finding supports, I think MANA is simply consolidating, creating formation for it's next leg up. If I didn't have my stop loss at $0.655, I would definitely have one set in the $0.5875 range. Fortunately, I have the time to keep an eye on price movement. Should it hit my .655 SL, the worst thing that could happen would be to buy it back for a 9-15% gain.Feel free to ask me any questions should the update above not make sense to you.

MANA is on a tear. It broke out of a descending wedge (green circle) and has a target of $1.25 which also corresponds with the fib .618. The $1.25 price target is further supported by an Inverse H&S that began forming in early August. However, MANA hasn't broken out of the descending channel (red circle) but is gearing up to push past at $0.74ish. Minor resistance at $0.80 and psychological at $1.00. Don't be surprised if MANA dips to the $0.59 area before pushing higher. These are just my ideas and not financial advice. Good luck.

...means something, but no guarantees in today's market. So, we keep an eye out. MANA followed yesterday's analysis perfectly, well behaved. Should this C&H pattern play out, the target gives MANA another opportunity to break the long-standing resistance of the descending channel (orange) around $2.64...which would be great. Good luck and know this is not financial advice.

Should MANA break resistance at $2.32, a quick jump to $2.41 can be expected. The market has been a drag across the board. On a good note, MANA has been able to stave off falling below a very critical $2.1950 in recent days, finding strong support at $2.21 area. It is currently on it's way up (again) from $2.21 with hopefully enough conviction to break $2.32. It is important to have this happen soon so that MANA can potentially capitalize further from the attention that "Fashion Week" in Decentraland brings to the metaverse.

In an update to yesterday's analysis, MANA chose my first route down. On a good note, it didn't create a rising wedge? I'm just kidding. With all that is going on globally, the economic trends are sentiment-based, day to day. I do think sellers are just as hesitant as buyers are right now. I am sitting tight. I'm lucky I placed my stop loss low enough at $2.49 because it came within $0.02 earlier today and has since posted some long candles of support at the lower trend line. The fact that there were several attempts by bears to sink it below the micro pink ascending channel, the bulls defended it well, in a positive direction and geometry as it continues to swing upwards. The MACD failed to turn positive in its last attempt, earlier today, and is just now making another attempt. I think there will be more or a chance this time given all the wicks and strong support bouncing off a major support line. Then again, Putin shot missiles at the largest nuclear power plant in Europe so who knows...wtf? On a good note, although there is a lot of uncertainty, in the coming session MANA only needs to break $2.92 to rise above the macro descending channel (Orange) from the last ATH whereas yesterday, it was $3.03. I'm still kidding, but this is actually a huge deal. In theory, MANA can break out of the downtrend simply by continuing to consolidate in the current range for the next couple of days...and that's also a statement of the length of the past 3 months of consolidation...for a whole quarter...and that's how crypto goes. Massive increase---retracement/consolidation/price discovery---Massive increase, given more adoption/advancements/Musk tweet OR Furthur downside, given fear indexes/Fed/War/Musk tweet. Something big is going to happen in the next 72 hours. I am keeping my SL where it's been. I am optimistic that Ukraine is going to continue to resist Putin's desires, prolonging the market's indecision, and potentially creating further losses. Oh well, because there are more important things in the world than our portfolios. These are just my thoughts on MANA's current position and not financial advice. Oh, and ignore all the arrows and from yesterday and the Blue ascending channel too...except that it will probably face resistance with indecision should MANA push higher, probably around where it merges with the centerline of the Pink ascending channel?Stop loss kicked in...Hoping it will recover around $2.37/.38 area. Upward targets are still the same...just delayed. What I don't want to see is a drop below $2.20 because that creates a horrific situation.

MANA is holding support well. Should the blue line break, a drop to $2.57 is imminent. If MANA doesn't break the pink and/or orange resistance, the blue ascending channel turns into a bearish rising wedge with a similar target ($2.60). Don't fret, the pink ascending channel would still be intact. I took my first tour of Decentraland today. It was about time, given the amount of capital I have invested...borderline foolish of me. That being said, I was really impressed with the unfathomable potential in the metaverse.I have a tight stop loss set for $2.49. This is not financial advice. This time tomorrow we will know its trajectory for sure. Volume is low, but a break above $3 should attract buyers. Above $3.03 could send it fast to $3.40-$3.50. Sit tight.