MANA at a Crossroads: Watch $0.1001 Resistance and $0.0814 Support
MANA (MANA/USDT) remains in a short- to mid-term downtrend and is trading around $0.107 after a recent 24h drop (≈4–9%). Technical indicators are bearish: RSI near 30–33 (approaching oversold), MACD histogram negative, price below EMA20 ($0.12), and Supertrend bearish. Key levels to watch: short-term resistance/pivot at $0.1001–$0.1113 (merged from both pieces) and supports at $0.0900 and $0.0814 (strong) with a lower high-confluence support near $0.1035 noted in the earlier piece. Volume is muted; bullish confirmation requires a daily close above $0.1001–$0.1113 with rising volume (≥1.5x) and MACD divergence toward zero. If confirmed, targets are $0.1197–$0.13, then $0.14–$0.1526 and $0.1683–$0.1886. Bearish scenario: a decisive daily close below $0.0814 (or below $0.1035 in the earlier read) with accelerating sell volume and RSI <30 would open faster downside toward $0.07, $0.05 and potentially $0.0446–$0.0133 on a prolonged collapse. MANA is highly correlated with Bitcoin (correlation ≈0.85+); recent BTC weakness (drops noted from ~$72.9k to ~$66k) raises downside risk for MANA, while BTC strength above the mid $60ks–$71k band would support any altcoin recovery. Traders should wait for volume-confirmed candle closes, use strict R/R and clearly defined invalidation levels (bull invalidation: ~below $0.090–$0.1035; bear invalidation: above $0.1001–$0.1113), and size positions conservatively. This analysis is educational and not investment advice.
Bearish
Both summaries indicate prevailing bearish momentum for MANA across multiple timeframes: RSI near oversold but not yet signaling a sustained reversal, negative MACD histogram, price below EMA20/50/200, Supertrend bearish, and muted volume. Critical resistance levels ($0.1001–$0.1113) must be closed above with rising volume to shift bias; absent that confirmation, the path of least resistance is downward toward $0.0814 and lower supports. High correlation with Bitcoin compounds downside risk because recent BTC weakness has historically led altcoin drawdowns. For short-term trading, this favors short-biased strategies or wait-for-confirmation setups rather than aggressive long entries. In the medium-to-long term, a sustained BTC recovery and volume-backed breakout above the noted pivots would be required to validate a bullish trend reversal. Risk management is essential: use tight invalidation levels and confirm moves with volume to avoid false breakouts.