A reversal pattern is forming

During the last weeks, MANA stopped its downward trend at the support area of $0.30, and it is forming a reversal pattern. Confirmation of this pattern requires buyers to push the price back above the $0.35 range. In this situation, the RSI indicator has also formed a positive divergence, so if the RSI returns above the number 44 in the daily time frame, we can expect the formed floor to be a significant support for the trend change.

The short-term targets we can consider are $0.35 and $0.42. The second resistance is at the ceiling of the descending channel and can have a strong negative reaction. Therefore, the saving range of profit for buyers will be short-term. For the short term, three bullish candles with larger bodies than shadows can be a sign of buyers gaining strength, which we expect to see a further increase in price this week.