Mana has been an interesting cryptocurrency since it first soared to a high of $0.8083 at the start of 2023. Since then, it has been in a bearish trend, although recently there has been some bullish indicators. Right now, Mana is trading around the $0.500 mark, after having made a strong resistance at the $0.800 level twice in the past. It is believed that if this resistance can broken, Man may be on its way to retesting the $0.800 level.

The recent bullish signs have been heavily dependent on the indication given by the chart. On a 4-hour basis the price has been making higher-highs and higher-lows, helping it to reach the upper band of the bollinger, indicating a possible pullback to gain some support from investors. An upward trend has also been suggested by the RSI which recently crossed the 50 mark on a daily chart and reached 58.11 on a 4-hour chart. More analysis gives credence to this trend, as the +DI is above the -DI and the ADX line has crossed the +DI positively.

Although currently classified as a bull market, it is worth noting that the overall trend of Mana is still bearish. It had consolidated around the $0.70 to $1.10 level for months before breaching the $0.70. Further drops then moved it to the $0.2900 level. There has been a lot of volatility in the cryptomarket with Mana being no exception.

The major supports for Mana are at the $0.500 and $0.5500 mark, with major resistance being set at $0.6500 and $0.800. A stronger bullish market could push Mana to the desired $0.800 level. However, it is important to understand that all investments come with a risk of loss and it is essential to ensure that all investors understand this before committing their money.



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