MANTAUSDT is exhibiting signs of a potential bearish flag formation, a technical pattern typically indicative of a continuation of the prior downtrend. However, it is crucial to acknowledge the prevailing market sentiment, which currently heavily favors bullish tendencies.
Given this dichotomy, it is prudent to consider two distinct scenarios, labeled Outcome A and Outcome B.
Outcome A envisages a scenario where the price undergoes a bearish breakout, descending below a critical support level, targeting a descent to the $2.70 mark. Conversely, Outcome B anticipates a bullish reversal, contingent upon the price securing a close above the $3.15 threshold.
Both potential trajectories have been meticulously delineated on the accompanying chart.
Importantly, should the price retreat to the lower target as posited in Outcome A, this level is anticipated to act as a significant demand zone for bulls. Thus, initiating accumulation at this juncture could be strategically advantageous.
Feel free to let us know what you think about our analysis.
Given this dichotomy, it is prudent to consider two distinct scenarios, labeled Outcome A and Outcome B.
Outcome A envisages a scenario where the price undergoes a bearish breakout, descending below a critical support level, targeting a descent to the $2.70 mark. Conversely, Outcome B anticipates a bullish reversal, contingent upon the price securing a close above the $3.15 threshold.
Both potential trajectories have been meticulously delineated on the accompanying chart.
Importantly, should the price retreat to the lower target as posited in Outcome A, this level is anticipated to act as a significant demand zone for bulls. Thus, initiating accumulation at this juncture could be strategically advantageous.
Feel free to let us know what you think about our analysis.
Trade active:
Remarkably, the price declined to fulfill our bearish target and found support precisely at the significant demand area provided.
Our short position yielded approximately 20% profit.
Currently, we're experiencing a profitable buy opportunity, so hold onto your positions, with focus on the bullish target illustrated on the chart. Enjoy the journey, everyone.
Our short position yielded approximately 20% profit.
Currently, we're experiencing a profitable buy opportunity, so hold onto your positions, with focus on the bullish target illustrated on the chart. Enjoy the journey, everyone.
Trade active:
Focus on buy back area.
Trade active
Trade active
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