Decentraland (MANA) - Long opportunity with +20-25% potential
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MANA is finally in an uptrend movement after having broken its resistance around $2.79. Despite today's bad performance of BTC, MANA has been very strong with a +23% gain however it seems that it's trying to re-test its support trend-line at the levels of $3.10-15.
- On the 4-hour chart, we have a bullish MACD and RSI with a bit of margin before reaching the overbought zone.
- On the 1-hour chart, the MACD is close to turn bearish however if the price bounces on the support trend line then it will remain bullish therefore, it's very important to ensure we don't break it to the downside. The RSI is close to a support level, happened twice today so I remain optimistic here.
- On the 15-minute chart, we are still in a downtrend for the past 4 hours which is good as it will give some strength for the continuation to the upside.
Levels to watch:
- Re-test between $3.10 - $3.15
- Take Profit 1: $3.61
- Take Profit 2: $3.82
- On the 4-hour chart, we have a bullish MACD and RSI with a bit of margin before reaching the overbought zone.
- On the 1-hour chart, the MACD is close to turn bearish however if the price bounces on the support trend line then it will remain bullish therefore, it's very important to ensure we don't break it to the downside. The RSI is close to a support level, happened twice today so I remain optimistic here.
- On the 15-minute chart, we are still in a downtrend for the past 4 hours which is good as it will give some strength for the continuation to the upside.
Levels to watch:
- Re-test between $3.10 - $3.15
- Take Profit 1: $3.61
- Take Profit 2: $3.82
Trade chiuso: obiettivo raggiunto
Take Profit 1 has been smashed successfully however I should have been more conservative with the Take Profit 2 by setting it just below $3.80.I personally took this trade with + 11.95% profit!
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