MANA: Short term Bullish

٣١ يناير ٢٠٢٣

Who knows how the markets will respond to the Fed on Wednesday and Friday this week? It doesn't have to make sense. Inflation should have bolstered crypto because it's inflation-proof by design...but that didn't happen last year. This just means, for me, I will keep a close eye with tight stop losses. MANA is currently set up to at least revisit the resistance of the ascending channel (green), around $0.82. Following its rejection at $0.81, MANA has consolidated around the middle of the channel and is showing strength as it follows support (red dashed line). It may retrace back into the channel before heading higher to the low-mid 0.90s. The MACD isn't horrible and beginning to tilt upwards to cross into bullish territory. This post is not financial advice.