Decentraland MANA USD 4h - symmetric triangle pattern forming
MANAUSD forming a similar symmetrical triangle pattern that other cryptos are right now after seeing big pushes to the upside. This one could take a while to break, barring any news to push the price up based on fundamentals. The most recent attempt to break resistance was rejected at the upper boundary line, so watch for the lower boundary touch to see if the pattern will remain intact. If it does, the bottom line may be a good entry point. If it breaks bearish, the measured move to the downside makes it ripe for a short. If it does not break bearish, the retest of the upper boundary will come sometime in the next 48 hours. Playing the ping pong between the boundaries could be a pretty successful short term strategy while the consolidation continues.
Neutral until the retest of either boundary happens, which will dictate the entry point and duration of the trade.
Neutral until the retest of either boundary happens, which will dictate the entry point and duration of the trade.
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