💫With MANA up 34.56%, consider waiting for a retracement near support zones to avoid entering at the peak.
If momentum persists, aggressive traders may consider breakouts above $0.7280 for quick gains.
Here’s a detailed trading plan for$MANA /USDT based on the current market data:
Support Levels📊
$0.6280: A short-term support based on recent price action.
$0.5738: Medium-term support near the MA(25), a critical level to watch during pullbacks.
$0.4874: 24H low; strong support in case of significant corrections.
Resistance Levels💹
$0.7280: Immediate resistance; if broken, expect a rally toward higher levels.
$0.7438: A possible next target above the current resistance.
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2. Trading Strategy📈📉
Short-Term Strategy (Scalping/Intraday)
🌱Entry:
Buy near $0.6280 or $0.5738 (wait for confirmation of support hold).
If the price breaks $0.7280, consider buying the breakout with tight stop-loss below the breakout level.
Stop-Loss🔒
Place at $0.6100 for entries near $0.6280 or $0.5500 for entries near $0.5738.
Take-Profi🎯
Target $0.7000 initially and $0.7438 for an extended rally.
Mid/Long-Term Strategy (Swing/Position Trading)
🌱Entry: Accumulate in the range of $0.5738–$0.4874 if the price retraces.
🔒Stop-Loss: Below $0.4800 (break of 24H low could signal further downside).
🎯Take-Profit: Gradual exits at $0.7280, $0.8000, and possibly higher if metaverse tokens gain momentum.
3. Alerts Setup
Resistance Alert:
Trigger an alert at $0.7280 for potential breakout opportunities.
Support Alerts:
Set alerts at $0.6280 and $0.5738 for potential bounce trades.
Volatility Alert:
Monitor unusual volume surges, which often precede big price movements.
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4. Risk Management
Allocate only a small percentage of your portfolio (e.g., 1–5%) per trade to limit risk.
Use a risk-reward ratio of at least 1:2 or 1:3, meaning your potential profit should be 2–3x your potential loss.
Good luck. Traders 😇