Hello Traders,
Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it!
- Checking our 1D TF we can see that $MANA price action has bounced strongly from support level 0.7000$ which acted before as an Support&demand pattern ( accumulation ) for a previous bullish impulse on 28 October 2021 suggesting
that its a POI for many retail traders buying the asset on a discounted price .
- On 4H TF $MANA just broke above level of S/R of 1.000$ - 1.1000$ , would like to see the buyers pushing towards 1.215$ showing they have the strength to trade higher as the price would be lifted towards level of 1.4000$-1.5000$ S/R
level , buying pressure seems decent and this is a good sign to trade higher
- Meanwhile do not forget to monitor the bitcoin movement as it's fixed above crucial S/R level 30000$ and should have a 1D candlestick closing above this level or else price will drop again towards level 27k-28K
Good Luck Traders
Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it!
- Checking our 1D TF we can see that $MANA price action has bounced strongly from support level 0.7000$ which acted before as an Support&demand pattern ( accumulation ) for a previous bullish impulse on 28 October 2021 suggesting
that its a POI for many retail traders buying the asset on a discounted price .
- On 4H TF $MANA just broke above level of S/R of 1.000$ - 1.1000$ , would like to see the buyers pushing towards 1.215$ showing they have the strength to trade higher as the price would be lifted towards level of 1.4000$-1.5000$ S/R
level , buying pressure seems decent and this is a good sign to trade higher
- Meanwhile do not forget to monitor the bitcoin movement as it's fixed above crucial S/R level 30000$ and should have a 1D candlestick closing above this level or else price will drop again towards level 27k-28K
Good Luck Traders