MANAUSD Introduces Sell-Side Delivery Solution
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Market Analysis: The Market Offers Sell-Side Delivery
MANAUSD offers sell-side delivery to fill up the region of market inefficiency in January. The start of the year featured high volatility in the favor of the Bulls. The Stochastic indicator signaled the price was oversold. This led to a bullish surge in the price of MANAUSD. Large-sized daily close candles propelled the price to $0.750.
MANAUSD Key Levels
Demand Levels: $0.2680, $0.2500, $0.2400
Supply Levels: $0.5500, $0.4500, $0.3300
MANAUSD accumulation phase started as the buyers started relenting in late January. The push-up in the price became lethargic. Though the market structure remained bullish, more down-close candles were formed.
A triple-top bearish reversal pattern was formed in February. A shift in market structure followed the triple-top pattern to establish a bearish trend. The Moving Average (periods 30 and 50) crossed to further confirm the weakness of the market.
Market Expectation
The steep plunge in price since April has offered sell-side delivery for the fair value gaps created in January. The test of the resistance level at $0.3300 fostered a price crash to $0.2680. The market inefficiency has been well covered up and the Stochastic is also oversold. A push above $0.3300 is likely to foster a change in market direction.
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