Price Prediction:
Short Term (1-3 Days):
The price may continue to move within the falling wedge, maintaining a downward trajectory. However, there is a high probability of testing the lower boundary of the wedge ($0.1900 USDT).
If the price holds above $0.1900 USDT, this could signal a corrective rally toward the $0.2750 USDT level.
Medium Term (1-2 Weeks):
If the price successfully tests the lower boundary of the wedge and rebounds upward, this could lead to a reversal of the pattern and the start of an uptrend.
The target levels after a wedge breakout would be $0.3863 USDT (previous local high).
In case of an unsuccessful test of support ($0.1889 USDT), the price may continue to decline toward deeper support levels (e.g., $0.1500 USDT).
Long Term (1 Month+):
If there is a successful reversal of the falling wedge pattern, this could mark the beginning of a sustained recovery. Target levels could extend beyond $0.3863 USDT, such as $0.5000 USDT or higher.
However, if the downtrend continues without reversal, long-term targets could be significantly below current levels.
Trading Recommendations:
Long (Buy):
Entry: After a successful test of the lower boundary of the wedge ($0.1900 USDT) and a subsequent bounce upward.
Take-Profit: $0.2750 USDT → $0.3863 USDT → $0.5000 USDT.
Stop-Loss: Below $0.1889 USDT (to protect against further declines).
Short (Sell):
Entry: If the price fails to break above the upper boundary of the wedge ($0.2750 USDT) and begins to decline.
Take-Profit: $0.1900 USDT → $0.1500 USDT.
Stop-Loss: Above $0.2750 USDT (to protect against a bullish reversal).
Conclusion:
At the moment, the asset MANA is in a downtrend, forming a falling wedge. This creates potential for both a corrective rally and a continuation of the decline. The key event will be the test of the lower boundary of the wedge ($0.1900 USDT). A successful test could lead to a reversal of the pattern and the start of an uptrend, while an unsuccessful test could strengthen the downtrend.
Short Term (1-3 Days):
The price may continue to move within the falling wedge, maintaining a downward trajectory. However, there is a high probability of testing the lower boundary of the wedge ($0.1900 USDT).
If the price holds above $0.1900 USDT, this could signal a corrective rally toward the $0.2750 USDT level.
Medium Term (1-2 Weeks):
If the price successfully tests the lower boundary of the wedge and rebounds upward, this could lead to a reversal of the pattern and the start of an uptrend.
The target levels after a wedge breakout would be $0.3863 USDT (previous local high).
In case of an unsuccessful test of support ($0.1889 USDT), the price may continue to decline toward deeper support levels (e.g., $0.1500 USDT).
Long Term (1 Month+):
If there is a successful reversal of the falling wedge pattern, this could mark the beginning of a sustained recovery. Target levels could extend beyond $0.3863 USDT, such as $0.5000 USDT or higher.
However, if the downtrend continues without reversal, long-term targets could be significantly below current levels.
Trading Recommendations:
Long (Buy):
Entry: After a successful test of the lower boundary of the wedge ($0.1900 USDT) and a subsequent bounce upward.
Take-Profit: $0.2750 USDT → $0.3863 USDT → $0.5000 USDT.
Stop-Loss: Below $0.1889 USDT (to protect against further declines).
Short (Sell):
Entry: If the price fails to break above the upper boundary of the wedge ($0.2750 USDT) and begins to decline.
Take-Profit: $0.1900 USDT → $0.1500 USDT.
Stop-Loss: Above $0.2750 USDT (to protect against a bullish reversal).
Conclusion:
At the moment, the asset MANA is in a downtrend, forming a falling wedge. This creates potential for both a corrective rally and a continuation of the decline. The key event will be the test of the lower boundary of the wedge ($0.1900 USDT). A successful test could lead to a reversal of the pattern and the start of an uptrend, while an unsuccessful test could strengthen the downtrend.
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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.
t.me/aidailytrader - Telegram channel Free Trading Signals and buy AI private Indicators.
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.