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Inverse Head & Shoulders or ?...MANA is completing an Inverted Head and Shoulders pattern with a price target of +15% (around $2.44). It should follow the Green ascending channel as it makes this rebound. It won't make up for the recent tank, but at least it is in the positive direction. Will it hold? We shall see. If MANA doesn't break out as the pattern indicates, I assume it will continue consolidating between an ascending channel between $1.87 and $2.30 as seen in the Blue ascending channel (or finding support around $2.07 and consolidating between that and $2.20 as shown in the Pink channel). Keep an eye on the 50MA in relation to the 100MA...they're beginning to flirt a little bit with only 1.8% separating them. We do not want to see them cross over on the daily chart. On shorter time frames, this relationship looks a lot better. Since there has been an extended downtrend, it is only natural that the 50MA and 100MA are getting so close. MACD looks fine and of course, the Stoch RSI is rock bottom, which indicates less selling pressure. In the end, it all comes down to BTC. BTC is not forming an Inverted H&S but is moving in a positive direction. I am keeping an eye on BTC breaking $39k. Should BTC get rejected there, besides the normal resistance, BTC will continue forming a bearish ascending wedge, giving BTC a return to the $31k range, undoubtedly dragging the market with it. Sit tight as finding support at $29-$31k is healthy and has been expected for several months. Should BTC break $39k, the next level to break is big @ $42k. I would actually prefer to see BTC test $35250ish first, creating more of an ascending channel versus trying to break out of an ascending wedge. This isn't financial advice. Good luck. Also note that MANA will sometimes break away from BTC for short periods so this short-term potential 15% increase may not be affected should BTC explore $35k. That being said, what BTC does between $29k and $31k will definitely affect the overall market. If BTC bounces, so will MANA, if it loses its footing at $29k, I anticipate MANA dropping to $1.25 or even lower to around $0.95. Again, not financial advice, just what I am reading from the chart for a potential short-term recovery, including an equally realistic path to lower numbers.
MLong
by keykomg
6
PYR- Buy zone I'm so bullish on PYR- And that’s because Vulcan Forged isn’t just your run-of-the-mill gaming studio. It’s a gaming studio 2.0 complete with a fully-fledged DEX, NFT marketplace, and a place to create, collect and sell NFT art. Compared to the all-time-high of $44.82 achieved a few months ago, being able to pick up some PYR in the $2-$7.50 region could be an excellent opportunity. When things do eventually go up,I expect things to bounce hard. There’s simply too much going on to ignore here!
Long
by Goodland_UK
ERIC 5G METAVERSEERIC is gapped up this morning, got filled yesterday during the downturn at a ridiculously low bid, & was up well before market close. As you can see the daily chart is what's used, it was easy to see the turning point on volume looking for swing trade type positions. ERIC is expected to give earnings today & is expected be positive. ERIC has huge upside potential as a Metaverse 5G play. Its low price and huge infrastructure make it perfect to capture the developing metaverse market. Ericsson may not be a "leading" metaverse brand like Facebook, but it's going to grow in the background as it provides the actual bandwidth for the metaverse. This is called the picks & shovels method. Watch this space for MACRO & supply chain plays. Please like & share this post if you want more content like this. *NFA, DYOR Please check the ERIC prospectus before investing real funds*
NASDAQ:ERICLong
by CryptoQue
What's the big deal?A big part of trading in the crypto space is patience. As more technology is developed and BTC becomes more antiquated in comparison, the growing pains are par for the course given that ALTS are still attached, using BTC price as an indicator. I also don't think it is going to be as bad of a transition given Intel's new chip on the horizon? The metaverse is seeing huge institutional investment and MANA is just beginning. How it reacts to the overall market is indicative of a "newish" token. There isn't a lot of data to offer support in the current price range so it really comes down to BTC. I've been wanting BTC to hit $29k for months...just to get it over with. It may bounce off $35k in the next day...or continue down towards 29-30k? I don't see these dips as "crashes," just the evolving pattern that is still very much intact. In previous downtrends that lead to the ominous Crypto Winters (so dramatic), this industry was super speculative without a whole lot of understanding of the technology being developed, near zero adoption, and certainly lacking clear vision as to the potential of the space. People are beginning to understand, adoption and innovation is beginning to flourish. Nations and big businesses are looking toward blockchain for real solutions and industries are building in the metaverse. Today's chart is to just chill everyone out. 56% drops seem to be the magic number before a rally. The "fake out" on Jan 15/16 was disappointing but to no fault of what's actually happening in the metaverse space. Some analysts are calling for $1.5...why? Just because it was where MANA took a breather on its ascent to $5? That's stupid. What is MANA worth? I have no idea as to its intrinsic value. I do know that companies like Adidas, Nike, Samsung have done their research and feel it is worth something. We don't know where the bottom is and as I've said this before with ADA, anything under $2 is a bargain. Even at $1.50, MANA's price would still fit into the bullish descending wedge in the next few days. A drop to $1 would turn that wedge into a channel and trigger the bots to do their thing, bringing MANA back above $3 or even $5 in the short term. I used to say the same about ETH with $200, then $450, and then $2500 within a year's time...each bargain prices. It doesn't so much matter where you buy as much as where you sell. To freak out is to think MANA will never hit $6. If you don't think it will, why did you buy at $4.35? Crypto is going through its cycle and the world is watching more than ever. I'm also not worried about Biden's regulations. As much as I'm not a fan philosophically, I think it will ultimately be good for crypto investors, offering slightly more security which will lead to more innovation and adoption. Also, besides this not being financial advice, know that there are so many unknowns. People will figure out the advantages of anti-inflation and buy versus sell when the news of inflation tanks Wall Street...so yeah, some things are counterintuitive as this industry grows and people will catch on as they become more educated.
MLong
by keykomg
ANOTHER METAVERSE CONTENDER CONFIRMING A BREAKOUT!Evening folks or whatever time it is in your zone. Chart above is Bluzelle (BLZ) and it looks primed for a breakout. For confirmation we need to close the current weekly candle above the resistance, do that and we'll probably get a retest or S/R flip if you will before going further to the upside. I strongly believe in this project coupled with the fact that its in the gaming sector of crypto along with their recent tweet a couple days ago saying they just joined the metaverse, I expect this to run hard. $1 for the 3rd wave (green) and $2+ for the 5th wave(green) to complete the 3rd grandcycle impulse wave. Let me hear your thoughts in the comments section.
Long
by RektMyMom
8
BLUZELLE THE PERFECT BEARMARKET STEAL!Please see below, linked is the original idea for Bluzelle(BLZ) I created a fresh chart layou inorder to provide another perspective into BLZ. As you can see, currently trapped in an ascending channel, BLZ is the perfect coin to hold for the long haul right now. At support of the larger trending channel, It is a steal to hold for long term gains. If you look closely, it is also forming and ascending triangle, and we know that to be a bullish pattern. This is just a shakeout, if you're selling you shouldnt be in the game. Furthermore, if you were to analyze the chart above very well, you would see that it is slowly forming a bulish pennant, but didnt add the line to avoid too much cluster on the chart. But anything could happen so make sure to use a stop-loss. I believe the rest of the chart is self explanatory. Hope this chart helps with perspective
Long
by RektMyMom
SLPHi everyone Honestly, I used to defend slp currency a bit and I even offered to buy it to a few people ... Unfortunately, it has not been working according to ROAD MAP lately and has had very poor fundamental performance in recent times. I do not know what to say... But if you are at a loss of more than 50 or 60 percent ... and you did not use SL ... wait... Brotherly offer ... I do not see anything positive in the technical and you have to wait for the fundamental news for this currency. . . Have a nice time...
by MohammadWaezi
21
Unity stock is on sale...time to Unite and buy!Hi everyone, Wow, what a start of the year! Stock market is beaten up badly. But you know what that means for an intelligent investor. Many great opportUNITYies to buy favorite stocks at discounts. Today we are revising my NYSE:U stock analysis. The stock is currently down more than 50% from the Nov tops (big ooph). We have just entered the highest volume zone, established last year. And we are rapidly approaching the Golden buy zone. All indicators point at a magical number of 100 . Just look at the chart! All stars allign perfectly at a price zone of 100 . POC, HVN, 2 long-term support lines, all point to 100 . I bet algos know about that zone too. So there are LOTS of resting buy orders. Therefore, I will add massively to my NYSE:U holdings at the next open. Let me know if you like this stock. As always, trade wisely and good luck! ----------------------------------------------------------------------------------------------------------------- Disclaimer!!! This is not financial advise
NYSE:ULong
by AyBe_Invest