MANAUSD experienced a reversal as price action failed to register a new lower low. This indicates a potential shift in market sentiment as buyers are eager to take control.
MANAUSD experienced a significant drop in mid-April 2024, causing the price to slightly breach the $0.4250 demand level and taking out existing liquidity below. Following the liquidity being taken, the price formed a failed low, indicating a decrease in selling pressure, which could potentially lead to a rise in price.
The 4-hour timeframe supports a bullish bias as it broke the structure upwards. The 4-hour Moving Average also aligns with the bullish bias, with the current price trading above it. Additionally, the daily Relative Strength Index shows the price below the 30.0 oversold region, indicating a potential buildup of bullish strength.
Ukulindelwa Kwemakethe
The price is anticipated to increase quickly as liquidity below the $0.4250 level is being absorbed. It is expected that the supply level at $0.5680 will be surpassed as the price seeks to access liquidity situated above that level.
Market Analysis – Price Strikes Major Resistance Zone
Compound (COMPUSD) has been embroiled in a protracted battle with resistance, particularly around the $74.460 mark, spanning nearly two years. Despite persistent efforts, the price has struggled to breach this significant barrier, with the earliest signs of resistance emerging back in May 2022.
Conversely, the demand threshold at $30.270 has acted as a formidable line of defense against further price declines. Each encounter with this level has triggered bullish reversals, resulting in a prolonged period of price oscillation confined within the range of $74.470 and $30.270.
March brought an unexpected twist to the narrative as market bulls capitalized on the favorable conditions presented by the bullish crypto season, driving the price above the resistance zone at $74.400. Yet, this bullish momentum proved fleeting, as the price encountered swift resistance around $97.540, leading to a rapid downturn.
Furthermore, a bullish parallel channel emerged, facilitating the invalidation of the long-term resistance zone at $74.460. However, the euphoria was short-lived as the price swiftly crashed below the parallel channel upon reaching the resistance zone of $97.550, signaling a potential shift toward bearish market sentiment.
Ukulindelwa Kwemakethe
Adding to the bearish outlook, the price currently resides below the Moving Average (Periods 9 and 21), further affirming the prevailing bearishness in the market and sending cautious crypto signals. Analysts anticipate a continuation of the downward trajectory, with the price expected to decline further towards the previous low on the daily chart at $43.000.
Dash 2 Trade Price Forecast: D2TUSD Price Finds Resistance at $0.00380 Supply Level (April 23) Kukhona ithuba lokuthenga I-D2TUSD pair as the price now finds resistance at the $0.00380 supply level while climbing the bullish ladder and going up at the moment. However, the price will move higher above the current resistance level, if buyers should exert more force into the price action in the market, the $0.00505 high trend line might be retested soon which may expose the coin price further to a $0.01000 upper high trend line, resulting to a good entry time for coin buyers.
I-D2T (USD) Ithrendi yesikhathi eside: I-Bullish (Ishadi le-4H) I-D2TUSD is in a bullish trend market in its long-term view. The bulls are about to take over and push us higher. There are multiple possible targets at this point, but the pair looks quite bullish here as we can see the coin price trading above the EMA-50. The bulls’ pressure on the cryptocurrency to the $0.00376 resistance level in the previous action has allowed it to retain its upward growth.
An increase to a $0.00380 high level above the EMA-9 approaching the overhead resistance as the 4-hourly chart opens today indicates that the traders are actively buying at this level.
This current trend will enable the price of I-Dash 2 Trade to remain on the upside and rise or break out to the upside. This will enable buyers to hold a firm grip over the asset.
Furthermore, the market is pointing up on the daily stochastic; this will quicken the emergence of more buyers to move the price of D2TUSD up to a significant level on the upside which might hit the $0.01000 supply trend mark, thus bringing a positive sentiment among the coin traders and registering a buy signal for the coin traders as the market remain strongly bullish soon in its higher time frame.
I-D2T (USD) Ithrendi Yesikhathi Esimaphakathi: I-Bullish (Ishadi le-1H) I-Dash 2 Trade market also trades in a bullish trend market in the medium-term outlook. This is due to the high impact of the long-term traders on the price flow. Ingcindezi eqhubekayo ye-bullish eya ezingeni eliphezulu lika-$0.00377 esenzweni sangaphambilini iholele ekukhuphukeni kohlamvu lwemali kwakamuva.
Earlier today, after completing the sideway moves, the I-D2TUSD buyers successfully pushed the coin price up to a $0.00380 supply level above the two moving averages shortly after the 1-hourly chart opened.
The current price at the $0.00380 resistance level suggests the returns of the buy traders in the market. The market participants are responding to this pattern, and its breakout should offer a good buy entry opportunity.
MANAUSD experienced a significant drop in mid-April 2024, causing the price to slightly breach the $0.4250 demand level and taking out existing liquidity below. Following the liquidity being taken, the price formed a failed low, indicating a decrease in selling pressure, which could potentially lead to a rise in price.
