Since 17 aug the priceline of MANABTC was moving in a pennant and made 12 unsuccessful attempts to break the resistance, at last on 8th Nov the price action broke the resistance with powerful buying volume, the total volume on 7th nov was $4058900 but on 8th nov $8636000 more added and the total volume witnessed on 8th nov $12694900 as per data coinmarketcap.com.
Now the priceline has found another strong resistance at 0.00001544, today the price action is making 3rd attempt to break the resistance but today the volume is not sufficient might be it will be increased soon.
The RSI is already in overbought zone upto 3days chart but the hopeful thing is that the candles are bullish and making higher lows, here I have used the volume profile fixed range to show the bulls interest at this area which is notably decreased the further the bullish movement totally depends on high buying volume.
Here I would suggest if any candle makes lower low with down movement of RSI should be an exit point.
Regards,
Atif Akbar (Moon333)
Now the priceline has found another strong resistance at 0.00001544, today the price action is making 3rd attempt to break the resistance but today the volume is not sufficient might be it will be increased soon.
The RSI is already in overbought zone upto 3days chart but the hopeful thing is that the candles are bullish and making higher lows, here I have used the volume profile fixed range to show the bulls interest at this area which is notably decreased the further the bullish movement totally depends on high buying volume.
Here I would suggest if any candle makes lower low with down movement of RSI should be an exit point.
Regards,
Atif Akbar (Moon333)
Comment:
MANA has broken the resistance successfully today the buying volume is higher than last 4 days, market cap is also notably increased, bulls are still active the 3 days RSI is in overbought zone I personally think soon 4 days RSI will also move in overbought zone, priceline is still making higher lows and higher highs MANA is performing good and making bull flags in 1h to 4hr charts, at this point the traders should keep an eye on buying volume and the priceline's movment it should keep making higher highs and higher lows on 1 day chart.
Comment:
Today the buying volume and market cap of MANA is notably decreased, sellers are more active than buyers, the stochastic and RSI on day chart are bearish and MACD is also moving down, if any one wants to take exit then don't panic wait for closing of day and see if the closing is lower then the previous day closing and the market cap and buying volume is still lower than the previous day then sell otherwise wait for next day's trend.
Comment:
MANA has sustained a lot sell off pressure, today the buying volume and market cap is again more than the yesterday now it is fighting again to break previous resistance. Today we are witnessing a second spin candle which can be an alarm for trending changing but again it depends on the buying or sell volume and market cap.
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