MANA – ALTCOIN CHART ANALYSIS

MANA is currently in a clear downtrend. So far we have only been able to break through this briefly once, but were immediately sold off again and have continued the downward movement since then.

We are currently trading at around USD 0.70. Directly above us parallels the downtrend of the 200 SMA (last 200 moving averages/purple) and 200 EMA. At the same time, the monthly resistance P has also placed itself there.

Thus, for MANA, we need to break the $0.74 area that we can see a bullish breakout. If we are rejected here again, we will have to adjust to lower prices in the short term.

On the daily chart, the picture no longer looks so bearish. While we still have some downside potential here, it could be reached soon as we are nearing the last low.

This is around $0.60 USD. A lot of liquidity has accumulated there after we pumped extremely up from this zone at the time. It would therefore be desirable to see another retest here.

If we manage to get more stable and more volume into the market there, MANA could target a bottoming out here. For this, however, we should not linger below the USD 0.60 mark any longer.

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