I think BTC will recover to the 48,765.309 area soon. When it breaks through this level, it can have a shot at the 50day at about 51K. MANA is growing, only being dragged down by BTC. MANA has split from the market a couple of times in the past few months and has done so again today. I'm not an apple guy and was delighted to wake up this morning to hear about Samsung. This is huge, more than Nike, Adidas, etc... It made me feel really good about the new Samsung pro I'm typing on, and the NeoQled TV and sound system I treated myself to at Christmas. I did notice at Thanksgiving, when everything tanked, that MANA rebounded exponentially against all the other coins. Keeping that in mind, I had converted a bunch of ADA and ETH last night into MANA...thanks Samsung. I lucked out because my stop loss from a buy at $3.02 was right at $2.79. Below are some ideas of where I think MANA is going and how it may get there...and not financial advice.
This is all short-term stuff. MANA is holding, consolidating well. Ascending channel and C&H on the short-term. MACD is better, above the histo. and you can see it bounced from the line I drew on the Stoch RSI last week. Smaller C&H patterns have been leading into larger ones, putting $3.60's and $3.80's back on the map. We can only hope that BTC doesn't continue to drop. BTC is looking good, so if it returns to the 48-51k range in the coming days, this will even further MANA's "head start," putting $4.50-$5+ readily within reach. On the downside, should MANA be consolidating in the Descending channel, I am keeping an eye on $3.20-3.15. Below that, it may test $3 or lower?
This is all short-term stuff. MANA is holding, consolidating well. Ascending channel and C&H on the short-term. MACD is better, above the histo. and you can see it bounced from the line I drew on the Stoch RSI last week. Smaller C&H patterns have been leading into larger ones, putting $3.60's and $3.80's back on the map. We can only hope that BTC doesn't continue to drop. BTC is looking good, so if it returns to the 48-51k range in the coming days, this will even further MANA's "head start," putting $4.50-$5+ readily within reach. On the downside, should MANA be consolidating in the Descending channel, I am keeping an eye on $3.20-3.15. Below that, it may test $3 or lower?
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If you use both ascending and descending channels' lines to make a symmetrical triangle, the upwards target is in confluence with the upper trendline of the ascending channel at around $3.60
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Additionally, the C&H target is more around $3.67, which is in confluence with a funky fib. I made from the high before the plunge. At least MANA isn't down with everyone else.
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Nice...I just checked back, adjusted the ascending wedge to the top of the wick and it matches as there is resistance at the median. Check back later as I really like what's going on and will talk about MANA leading the way as your other alt coins are following (not mimicking in real time) MANA and BTC is late to the game. These breaks are going to happen more and more as BTC's pairing will decrease over the years to come. One thing that I'm going to do and not recommend as financial advice is liquidate some MANA, very short term, and catch the pump of other alt coins that are about to do what MANA did earlier. When I do this, unfortunately, I have to stare at the screen and proceed with caution.