Decentraland (MANAUSD) has been unable to break above the 1W MA50 (blue trend-line) despite January's rise (led at large by Bitcoin). This draws heavy comparisons with the previous Cycle, which on March and June 2019 failed also to break above the 1W MA50 despite a March rally and instead dropped to the 1.236 Fibonacci extension, which was a Lower Low for the Bear...
Decentraland (MANAUSD) broke today above two bearish patterns, as shown on this 1D chart, a Channel Down (blue) and a Falling Wedge. At the same time it is trading the higher it has been above the 1D MA50 (blue trend-line) since November 2021 and the peak of the previous Bull Cycle.
All this while the 1D MACD is above the 0.000 neutral point with the green and...
We haven't looked into Decentraland (MANAUSD) since June 03, where we called for a bearish continuation unless the 1.13500 Resistance broke:
As you see the Channel Down extended and the Resistance hasn't been broken up to this date. Despite today's +10% rise, the price remains below all 1D MA50 (blue trend-line), 1D MA100 (green trend-line) and 1D MA200 (orange...
Hello 🐋
Based on the chart, the price is close to the major support (bottom) or better to say the previous zone that started its amazing pump to the upside and the round number $1 resistance ✔️
if
the price doesn't break the support level to the downside, we will see more gain beside the range market is an acceptable scenario too 📖💡🚀
and
if the price breaks the...
Decentraland (MANAUSD) is almost on a +70% rise since yesterday's Low, with the rebound coming on the 1W MA150 (red trend-line), which got hit for the first time in history. The fractal though resembles that of the mid April High both in terms of price action and 1D RSI.
That sequence rebounded on the 1D MA200 (orange trend-line) instead of the 1W MA150 but as it...
At the end of last November I warned traders of the bearish formation and potential peak on Decentraland, as it was printing the very same top pattern (both pricewise and in terms of RSI on the 1D time-frame) with the previous tops of May 2021, August 2020 and February 2020:
The price eventually did make a top on that exact price range and MANA entered a new...
