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DECENTRALAND / USD PERPETUAL SWAP CONTRACT

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MANAUSDT.P trade ideas

MANA/USDT.P 1:3 RISK REWARD HIGHER HIGH In an uptrend, higher highs are a sign of increasing bullish momentum. When the price surpasses previous highs, it's often seen as confirmation that the uptrend is intact. This pattern suggests that buyers are consistently stepping in at higher price levels. To spot higher highs: Chart Analysis: Look at the peak points on the chart. If each peak is higher than the previous one, you're seeing higher highs. Volume: Increasing volume with higher highs can further validate the strength of the uptrend.
Long
by Faizgazi
MANA USDTBINANCE:MANAUSDT.P #Decentraland is experiencing a bullish momentum, with the price moving above the key moving averages (20, 50, 100, 200). The RSI is at 64.70, indicating that the asset is approaching overbought conditions, but still has room for further upside. The price is currently testing the $0.2904 level, with the next major resistance at $0.3343, and a more significant resistance at $0.3487. If the bullish momentum continues and the price breaks above these resistance levels, it could lead to a strong upward movement. However, if the price fails to sustain above the current level, it might pull back towards the support area around 0.2734.In summary, MANA shows a potential buy opportunity, but caution is advised due to the nearing overbought RSI and the proximity to key resistance levels.
Long
by hfwkjfhbwkjhfbu
1
MANA: Bullish Breakout Alert! Watch for Confirmation💎 MANA has broken out of a descending channel, forming an inverse head and shoulders pattern, indicating a potential bullish reversal. Additionally, the price action is showing signs of bullish momentum, further increasing the likelihood of a bullish move. 💎 If MANAUSDT successfully breaks above the resistance level, it may signal a continuation of the bullish trend. However, if MANA experiences a pullback, it would be prudent to wait for it to reach the next support level + bullish Order Block (OB) zone before considering entry. A bounce from this area could provide a favorable entry point. 💎 On the other hand, if MANA breaks down below these levels or exhibits panic selling behavior, it may be wise to avoid trading it until the market conditions stabilize and clearer signals emerge.
by MyCryptoParadise_Nathan
💡Don't miss the great buy opportunity in MANAUSD @decentralandTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.6567). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . MANAUSDT is in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 60. Take Profits: TP1= @ 0.7550 TP2= @ 0.8320 TP3= @ 0.9580 TP4= @ 1.1290 TP5= @ 1.3204 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME