Graphic Analysis


• Trend: A long-term downtrend has been broken. The price appears to have entered a new uptrend.


• Formation: A cup formation is noticeable on the chart. If the formation is completed, the target price may gain significant momentum in the upward direction.


• Target Price: The chart shows that the formation target is pointing at 1.59 levels. This would mean an increase of approximately 368% from the current price level.



Support and Resistance Levels


• Main Support Levels:


• 0.43 USDT (important horizontal support)


• 0.30 USDT (critical bottom support point)


• Main Resistance Levels:


• 0.70 USDT (first resistance, currently being tested)


• 0.90 USDT (formation neckline)


• 1.50-1.60 USDT (formation target area)



Indicator Analysis


• Moving Averages (MA):


• The price is above the 50-day moving average, which supports bullish momentum in the short term.


• An upward crossover of the 200-day moving average can be considered a strong bullish signal.


• RSI (Relative Strength Index): Approaching the overbought zone but not yet giving an overbought signal. This suggests there is room for further upside.


• MACD: It has generated a buy signal and the histogram continues to expand in the positive region.



Formations and Formation Reversals


• The bowl formation is clearly visible and the neckline is at 0.90. By breaking this level, target price levels can be reached.


• The price has signaled a significant reversal by breaking the falling trend line.



Trend Direction


• The general trend is upward and the rise is likely to continue. Especially if the resistance levels are broken, a major acceleration can be expected.



Strategy and Advice


1. Short-Term Transactions:


• A short-term buying opportunity may arise when the resistance at 0.70 is broken. The target may be 0.90.


• Stop-loss can be placed below the 0.60 level.


2. Medium and Long Term Transactions:


• Closing above 0.90 supports taking a long-term position up to the formation target of 1.59.


• In long-term positions, stop-loss should be kept below 0.43.


3. Risk Management:


• Avoid trading in overbought areas. Wait for confirmation from indicators such as RSI and MACD.



Conclusion



Decentraland (MANA) is giving positive signals with a strong cup formation and a downtrend breakout. Investors can join the uptrend by following critical resistance levels. However, careful risk management is important in the cryptocurrency market where volatility is high.