MANA broke two crucial supports: the first at $1.68 & the second at $1.50.
Between $1.50 and $1.07 there is not some significant support to stop the price from a possible fall.
The next important supports is at $1.08 and the liquidity zone between $1.07 – 0.92.
Resistance at $1.68 has tested a few days ago…so the likelihood of a return to this level is low, not impossible. In the short-term, of course.
Be careful with your high leveraged shorts.
1) Market is in extreme fear
2) We are nearer the bottom than the top
3) In 4H LTF formed a local demand zone
These are not good signs for (long-term) shorts.
On the other hand, today’s candle closes below $1.34.
• If you are looking for short entries wait for a return to $1.50 or near $1.68 and a bearish confirmation candle.
Stop loss or alert above $1.50
Take profit at the liquidity zone
• If you are looking for long entries, near $1.00 or below is a good price.
Between $1.50 and $1.07 there is not some significant support to stop the price from a possible fall.
The next important supports is at $1.08 and the liquidity zone between $1.07 – 0.92.
Resistance at $1.68 has tested a few days ago…so the likelihood of a return to this level is low, not impossible. In the short-term, of course.
Be careful with your high leveraged shorts.
1) Market is in extreme fear
2) We are nearer the bottom than the top
3) In 4H LTF formed a local demand zone
These are not good signs for (long-term) shorts.
On the other hand, today’s candle closes below $1.34.
• If you are looking for short entries wait for a return to $1.50 or near $1.68 and a bearish confirmation candle.
Stop loss or alert above $1.50
Take profit at the liquidity zone
• If you are looking for long entries, near $1.00 or below is a good price.
Trade closed: target reached
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Not a financial advice. Always do your own research.