After a massive 600% pump between 10/26 - 10/30, MANA has retraced and tapped the .618 perfectly at $2.34.
Bullish Scenario: Consolidate in the current range and break above the downward trend line as shown above.
Bearish Scenario: Break below the .618 and test the .786.
I would think the bullish scenario is more likely to play out, considering the flow of the rest of the market. If BTC dumps, then this will go down.
This is not financial advice. These are just my ideas and opinions.
Bullish Scenario: Consolidate in the current range and break above the downward trend line as shown above.
Bearish Scenario: Break below the .618 and test the .786.
I would think the bullish scenario is more likely to play out, considering the flow of the rest of the market. If BTC dumps, then this will go down.
This is not financial advice. These are just my ideas and opinions.