MANA About to Explode? 3-Year Channel Breakout Ahead!

MANA has been consolidating inside a large descending channel for over 1100 days, consistently respecting both support and resistance levels. Recently, price formed a triangle pattern near channel support, a setup similar to Nov 2024, when MANA rallied over 150% after a breakout. This suggests a potential strong bullish move if resistance breaks.

Key Points

- Price has traded inside the channel for ~3 years

- Strong resistance around $0.80

- Triangle pattern formed near the channel bottom support

- A previous similar setup led to a sharp rally

- Breakout could open doors for a mid-term bullish trend

Trade Setup

Entry: $0.35

Stop-loss: Below $0.26

Targets:

First target: $0.75

Second target: $1.60

Cheers
Hexa