MANAUSD Sustains Bullish Momentum
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Market Analysis: MANAUSD Upholds its Bullish Trajectory
MANAUSD continues to uphold its bullish trajectory, exhibiting consistent upward momentum in recent trading sessions. This sustained bullish trend is driving towards surpassing the supply levels situated at $0.8330.
Key Levels for MANAUSD
Demand Levels: $0.5370, $0.4000
Supply Levels: $0.7010, $0.8330
Following a bullish breakout in market structure, the price encountered a temporary pause upon reaching the $0.7011 supply level. Acting as a resistance point, this level prompted a minor decline in price. However, support at the $0.5369 level facilitated a reversal pattern formation in the 4-hour timeframe.
This reversal pattern has reignited bullish momentum, enabling the price to breach the $0.7011 supply level once again. Additionally, the Moving Average further corroborates the bullish sentiment, with the price positioned above its mark.
Market Expectations
Anticipation is high for the price to surpass the $0.8330 supply level, potentially establishing a new all-time high. However, following this upward surge, a pullback is widely expected as part of the market’s natural cycle.
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