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MANA presents ‘ideal’ opportunity for long entry in this region, before next rally
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MANA was positioned for a near-term correction after flashing overbought readings on the 4-hour RSI and Bollinger Bands. The 20-SMA (red) and 50-SMA (yellow) along with the Visible Range’s POC at the 38.2% Fibonacci level were MANA’s best bet for an immediate recovery and an ideal long entry for bullish traders.
At the time of writing, MANA traded at $3.96, up by 9.6% over the last 24 hours.
Source: MANA/USD, TradingView
The last 30 days have accounted for over 60% gains as MANA continued to put up consistent buy volumes following a wedge breakout. Now as per the 4-hour indicators, MANA was in line for a correction after trading on the extreme ends of its Bollinger Bands.
On 13 November, MANA suffered a near 30% sell-off after flashing similar
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