🔶 Strong Support Zone (Demand Zone):
MANA/USDT is currently testing a major weekly support area between $0.20 – $0.30, a zone that has historically acted as a strong demand level since 2021. Price has bounced off this region multiple times, indicating strong buyer interest and potential for a bullish reversal.
🔶 Chart Pattern:
There is no classic pattern like a double bottom or head & shoulders, but price structure shows signs of horizontal accumulation, which resembles a Wyckoff re-accumulation phase—a typical base formation before a strong upside breakout.
🚀 Bullish Scenario:
If the price holds above the $0.25 support and forms a higher low, a bullish continuation is likely. The following resistance levels could serve as potential upside targets:
1. $0.3610 – Initial resistance and confirmation level.
2. $0.5475 – Intermediate psychological level.
3. $0.8109 – Former supply zone.
4. $1.0661 – Major resistance from 2022.
5. $2.7291 – $5.0666 – Long-term targets if macro bull trend resumes.
> Bullish Confirmation: A strong weekly candle close above $0.36 with high volume could spark a major rally.
🔻 Bearish Scenario:
If price breaks down below $0.25 and closes below it on the weekly timeframe, it would invalidate the bullish structure and may trigger further downside towards:
$0.13 – $0.07, the historical lows seen in early 2021.
> Bearish Confirmation: A weekly close below $0.25 with increasing volume would suggest sellers are back in control.
🧠 Conclusion:
MANA/USDT is at a pivotal point within a long-standing support zone. Holding this level could result in a strong upward move, but a breakdown would indicate further bearish pressure. Traders should watch this zone closely for confirmation in either direction.
#MANAUSDT #Decentraland #CryptoTrading #TechnicalAnalysis #AltcoinAnalysis #BullishSetup #SupportZone #TradingView #MetaverseCrypto #CryptoBreakout
MANA/USDT is currently testing a major weekly support area between $0.20 – $0.30, a zone that has historically acted as a strong demand level since 2021. Price has bounced off this region multiple times, indicating strong buyer interest and potential for a bullish reversal.
🔶 Chart Pattern:
There is no classic pattern like a double bottom or head & shoulders, but price structure shows signs of horizontal accumulation, which resembles a Wyckoff re-accumulation phase—a typical base formation before a strong upside breakout.
🚀 Bullish Scenario:
If the price holds above the $0.25 support and forms a higher low, a bullish continuation is likely. The following resistance levels could serve as potential upside targets:
1. $0.3610 – Initial resistance and confirmation level.
2. $0.5475 – Intermediate psychological level.
3. $0.8109 – Former supply zone.
4. $1.0661 – Major resistance from 2022.
5. $2.7291 – $5.0666 – Long-term targets if macro bull trend resumes.
> Bullish Confirmation: A strong weekly candle close above $0.36 with high volume could spark a major rally.
🔻 Bearish Scenario:
If price breaks down below $0.25 and closes below it on the weekly timeframe, it would invalidate the bullish structure and may trigger further downside towards:
$0.13 – $0.07, the historical lows seen in early 2021.
> Bearish Confirmation: A weekly close below $0.25 with increasing volume would suggest sellers are back in control.
🧠 Conclusion:
MANA/USDT is at a pivotal point within a long-standing support zone. Holding this level could result in a strong upward move, but a breakdown would indicate further bearish pressure. Traders should watch this zone closely for confirmation in either direction.
#MANAUSDT #Decentraland #CryptoTrading #TechnicalAnalysis #AltcoinAnalysis #BullishSetup #SupportZone #TradingView #MetaverseCrypto #CryptoBreakout
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Disclaimer
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.