MANA- Bullish& Bearish scenario explained
After the high back in February, Mana has re-entered its downtrend.
However, this recent drop stopped again in the 0.3 zone and the coin shily started to rise again.
The touch of 0.44 zone resistance led to a drop and at this moment we have two possible scenarios, both for bulls and for bears.
Bullish scenario:
As I said, the drop from 0.85 stopped again at the 0.3 zone and this could mark a bottom.
Also, in support of this bullish scenario, we have the ascending triangle pattern in which the coin is trading since June.
For this scenario to come into play, we need a break above 0.44 resistance.
In such an instance, the coin could rise to 0.6 zone, and considering a stop loss slightly under 0.4 we found also achieve a 1:3 R:R
Bearish scenario:
Even though we have a reversal from the 0.3 low twice, the trend is still bearish for the coin, and the two days ago reversal from horizontal resistance reinforces the bearish idea.
For confirmation of down continuation, bears need to push the price under 0.4 and in this case, ManaUsdt could make a new low under 0.3 to around 0.25
However, this recent drop stopped again in the 0.3 zone and the coin shily started to rise again.
The touch of 0.44 zone resistance led to a drop and at this moment we have two possible scenarios, both for bulls and for bears.
Bullish scenario:
As I said, the drop from 0.85 stopped again at the 0.3 zone and this could mark a bottom.
Also, in support of this bullish scenario, we have the ascending triangle pattern in which the coin is trading since June.
For this scenario to come into play, we need a break above 0.44 resistance.
In such an instance, the coin could rise to 0.6 zone, and considering a stop loss slightly under 0.4 we found also achieve a 1:3 R:R
Bearish scenario:
Even though we have a reversal from the 0.3 low twice, the trend is still bearish for the coin, and the two days ago reversal from horizontal resistance reinforces the bearish idea.
For confirmation of down continuation, bears need to push the price under 0.4 and in this case, ManaUsdt could make a new low under 0.3 to around 0.25
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📈 Join the FREE Forex & Gold Channel
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👉 t.me/FanCryptocurrency
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💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
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