MANA is confirming a double bottom and reset the entire pump.
Time to run the pattern again. Volume area is around $2, that is where MANA will revisit.
Notice the Wedge and the trend lines for resistance.
decentraland is a 3D virtual world browser-based platform Users may buy virtual plots of land in the platform as NFTs via the MANA cryptocurrency, which uses the Ethereum blockchain. It was opened to the public in February 2020, and is overseen by the nonprofit Decentraland Foundation.
MANA broke two crucial supports: the first at $1.68 & the second at $1.50.
Between $1.50 and $1.07 there is not some significant support to stop the price from a possible fall.
The next important supports is at $1.08 and the liquidity zone between $1.07 – 0.92.
Resistance at $1.68 has tested a few days ago…so the likelihood of a return to this level is low, not...
The metaverse (Decentraland especially) has a lot of hype behind it but the utility aspects of it is still underbuilt in its current form. Will it eventually get there? A look at a few things being worked on in the background during this bear market.
Sorry guys I have some bad news for MANA. It has potential to fall much further if 2.0 level is not quickly
recovered by bulls making it a beartrap.
It seems to be repeating its previous M-pattern. It is also
forming not 1 but 2 falling wedges giving us the next 2 potential supports. It has broke down from my first support at 2.0.
Not trading advice
Hello everyone, if you like the idea, do not forget to support with a like and follow.
MANA is approaching a strong support in green so we will be looking for buy setups.
on DAILY: MANA is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in...
Some would disagree, but to me it seems if the market goes bullish again MANA is prime for huge pump.
Some bullish factors for crypto:
1) Biden signs EO embracing crypto
2) UAE embraces crypto
3) Ukraine legalizes crypto
4) Geo-political uncertainty, crypto alternative currency
5) Whales pulling BTC off exchanges by the billions
6) Ukraine/Russia conflict...
The market is down right now but these are also good times to take a look at what might be the "next big thing".
Had you got into the metaverse a year ago, you will most likely be up right now. Otherwise, you're probably in the red. (Yes, even Bitcoin and Ethereum.) The metaverse is this year's clear winner in terms of performance, and it's not too surprising...
MONITORING MODE IDEA
Simulation based on fibonacci marked fractal.
Steepest fibs are more related to TIMEFIBS than the rest.
Subjective targets of the whole masses of market are at intersections of black lines.
Check how valid your target is within the simulation.