Long

MANA - HUGE triangle on the 4H chart

Updated

Using the same chart but analysing the trend on the 4H view, it seems that MANA has formed a huge bullish triangle and is about to break out. Before the big price explosing around a week ago, MANA also had formed a similar pattern when it was still trading below $1. As people say, the future does not repeat itself, but it tends to rhyme.

Please note: This is not financial advise!

Note

The price broke out of the huge triangle. If the volume is high enough the price might push through the $3 resistance shortly after which it can set its path forward to new highs.

How to read the chart:
- MACD shows bullish crossover
-RSI is still in the upper range but still has room to grow
-Horizontal lines on the chart are fibonacci extension lines, each line may be seen as a target. Usually the 0.618 ($4.62) is nearly always reached while the 1.618 ($8.35) can be reached if the price action is strong enough. Though as mentioned this is quite a long shot if you ask me
- red lines are resistances while green ones are supports

#NFA

Comment below what your view is on MANA
-

JoshAMS

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