⏰ We’re analyzing MKR on the 1-Day timeframe timeframe .
👀 On the daily timeframe of MANA, we can see that the coin is inside a compression with a triangle pattern. With the daily candle open, it is moving upward, and the reason for this is the clearing of sellers’ orders. MANA currently has a very important resistance at the $0.2995 area, which is considered a major resistance in the multi-timeframe view.
⚙️ Looking at MANA’s volatility, on the daily timeframe it is positioned above the 50 level and has a key resistance at the 54.25 area. If the oscillator crosses this level, MANA can build a higher low compared to its previous lows.
🕯 The number and size of red candles inside this triangle are much greater than the green ones, and to break out of this pattern and compression, we need more green candles in the multi-timeframe, especially on the 4-hour chart. If you zoom in on the chart, the 4-hour candles and patterns will display more clearly.
https://www.tradingview.com/x/XnU7kqPs/ 💰 On the daily timeframe of MANABTC, we can see that in the past 3 days, its trading volume and volatility have increased. A Fibonacci has been drawn from the breakout area to the corrective bottom, and with a breakout of the 0.38 Fib level, it can once again move upward.
🔔 The alert zones we have considered are the $0.274 area and the $0.3015 area. Based on price action in these zones, we can make the best trading decisions. Note that MANA has an important chart compared to Bitcoin, so be sure to check that chart as well.
http://dlvr.it/TMqGCL