📈💡 "Daily Mana Analysis: Chart Insights" 🌟🔍
📅 Let's analyze and review this popular cryptocurrency, Mana, together.
⏳ In the weekly timeframe, we're currently within a 600-day box. After approximately 420 days, we've once again reached the upper limit of this box and encountered the weekly resistance at 0.8096, initiating a correction in this trend.
📊 In the daily timeframe, after this encounter and the formation of a lower ceiling around 0.6940, one of our initial indications of a trend change has emerged. Following the break of the support at 0.5609, we may experience a change in trend or a short-term correction.
🔄 Furthermore, when moving towards the current support at 0.5609, the volume has significantly decreased. This indicates that traders are reluctant to trade within this space or still perceive the trend as bullish.
📉 Additionally, the Fixed Volume Range tool indicates that the range between 0.4237 and 0.4772 has the highest volume in this space. Using this tool in our strategy, breaking into this high volume area increases the likelihood of our stop-loss being hit. Conversely, breaking this high volume area, with a floor at 0.4237, provides better opportunities for us.
🎯 For short positions, our support is clearly defined, and if 0.5609 is breached, we can open our position. However, confirmation from volume and its increase upon breaking is necessary.
🛑 For long positions, if we rebound from this support and move towards 0.6940, we wait for a resistance encounter and a short-term correction that confirms the presence of resistance. If it breaks again, we can reopen our long position.
💡 The upcoming supports are at 0.4772 and 0.4237, while the upcoming resistances are at 0.6940 and 0.8096.
🚀 For spot buying, after breaking the weekly box and the main resistance, we'll consider buying, but only after reading and reviewing the Metaverse project.
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
⏳ In the weekly timeframe, we're currently within a 600-day box. After approximately 420 days, we've once again reached the upper limit of this box and encountered the weekly resistance at 0.8096, initiating a correction in this trend.
📊 In the daily timeframe, after this encounter and the formation of a lower ceiling around 0.6940, one of our initial indications of a trend change has emerged. Following the break of the support at 0.5609, we may experience a change in trend or a short-term correction.
🔄 Furthermore, when moving towards the current support at 0.5609, the volume has significantly decreased. This indicates that traders are reluctant to trade within this space or still perceive the trend as bullish.
📉 Additionally, the Fixed Volume Range tool indicates that the range between 0.4237 and 0.4772 has the highest volume in this space. Using this tool in our strategy, breaking into this high volume area increases the likelihood of our stop-loss being hit. Conversely, breaking this high volume area, with a floor at 0.4237, provides better opportunities for us.
🎯 For short positions, our support is clearly defined, and if 0.5609 is breached, we can open our position. However, confirmation from volume and its increase upon breaking is necessary.
🛑 For long positions, if we rebound from this support and move towards 0.6940, we wait for a resistance encounter and a short-term correction that confirms the presence of resistance. If it breaks again, we can reopen our long position.
💡 The upcoming supports are at 0.4772 and 0.4237, while the upcoming resistances are at 0.6940 and 0.8096.
🚀 For spot buying, after breaking the weekly box and the main resistance, we'll consider buying, but only after reading and reviewing the Metaverse project.
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.