Decentraland (MANAUSD) Attempts to Close Fair Value Gap (FVG)
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Market Analysis: Price Attempts to Close the FVG
MANAUSD attempts to Close the Fair value gap (FVG). The bearish momentum of MANAUSD ended when the price reached a major low in late October 2023. As a result, the price has started to rise, breaching the $0.4400 supply level and indicating a strong buy trend in the market.
MANAUSD Key Levels
Demand Levels: $0.2600, $0.1550
Supply Levels: $0.4400, $0.7000
MANAUSD has shown bullish momentum by breaking through the $0.4400 supply level, indicating a pause in bearishness. Following the breach, the price has started to form a bullish channel, suggesting a potential upward movement.
Additionally, the Moving Average also supports the bullish price action, with the candles consistently staying above its mark. The rising momentum is expected to fill the Fair Value Gap (FVG) without surpassing the $0.7000 supply level.
Market Expectation
MANAUSD has exhibited a pattern of bullish movement, with the price expected to stay within a bullish channel and potentially break out. The 4-hour timeframe indicates a bullish break in price structure. Therefore a potential retracement into the order block is anticipated before an upward price movement.
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