Decentraland | Multiple Timeframes (Bottomed Out - Easy 46-90%)

BINANCE:MANAUSDT   Decentraland / TetherUS
After a 94% correction from its All-Time High, we can say that Decentraland (MANAUSDT) already hit its bear market bottom?

Chart | MANAUSDT Weekly

Most likely, for some people maybe not but here is what the chart says will happen next.

Looking at the daily timeframe, we can see that MANA's multi year low was hit 22-November.
The day before bear volume was strong and right after the 21st it started to decrease.

A bounce can easily happen to the counter trend-line and even higher to reach MA200 at 0.7816 but wait... There is more.

The bear market from ATH to the 22-Nov-2022 low took exactly 364 days.
This might be a short bear market for some but we know from past history that Altcoins tend to correct from 90 to 98%.

Here we have once more a nice setup, low risk and high potential for rewards.

The stop-loss can be set below the 22-Nov. low, while for the targets we aim, All The Way Up!


🔝 100,000+ Altcoins & Bitcoin Charts!

🚨 Free PREMIUM Trade-Numbers

➖ If you now enjoy the content, please consider support below...
👉 (Since 2017)

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.