🔶 Strong Support Zone (Demand Zone):
MANA/USDT is currently testing a major weekly support area between $0.20 – $0.30, a zone that has historically acted as a strong demand level since 2021. Price has bounced off this region multiple times, indicating strong buyer interest and potential for a bullish reversal.
🔶 Chart Pattern:
There is no classic pattern like a double bottom or head & shoulders, but price structure shows signs of horizontal accumulation, which resembles a Wyckoff re-accumulation phase—a typical base formation before a strong upside breakout.
🚀 Bullish Scenario:
If the price holds above the $0.25 support and forms a higher low, a bullish continuation is likely. The following resistance levels could serve as potential upside targets:
1. $0.3610 – Initial resistance and confirmation level.
2. $0.5475 – Intermediate psychological level.
3. $0.8109 – Former supply zone.
4. $1.0661 – Major resistance from 2022.
5. $2.7291 – $5.0666 – Long-term targets if macro bull trend resumes.
> Bullish Confirmation: A strong weekly candle close above $0.36 with high volume could spark a major rally.
🔻 Bearish Scenario:
If price breaks down below $0.25 and closes below it on the weekly timeframe, it would invalidate the bullish structure and may trigger further downside towards:
$0.13 – $0.07, the historical lows seen in early 2021.
> Bearish Confirmation: A weekly close below $0.25 with increasing volume would suggest sellers are back in control.
🧠 Conclusion:
MANA/USDT is at a pivotal point within a long-standing support zone. Holding this level could result in a strong upward move, but a breakdown would indicate further bearish pressure. Traders should watch this zone closely for confirmation in either direction.
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