Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

MANA Enters ‘Depression’ Phase; LDO May See Bullish Breakout Soon

Published 01/04/2024, 04:21 PM
Updated 01/04/2024, 04:45 PM
MANA Enters ‘Depression’ Phase; LDO May See Bullish Breakout Soon

  • MANA enters the “depression” phase of the market psychology cycle.
  • At this phase, the market sees low volatility and trading volume.
  • LDO appears poised to break out of an ascending triangle.

In a series of posts on X (formerly Twitter), analyst Ali Martinez noted that the metaverse-based token MANA and the governance token of the Lido DAO, LDO, are two assets primed for a rally in the short term.

MANA Might Have Something Else Planned

Martinez assessed MANA’s price movement and noted that the altcoin’s price is currently in the “depression” phase of the typical market psychology cycle.

MANA

An asset’s price is said to be in this phase when it has previously recorded highs and now experiences a decline. The phase is commonly marked by low investor sentiment, impacting trading activity and resulting in low trading volume.

Also, the asset’s price may fluctuate within a narrow range, reflecting the lack of strong buying or selling pressure in the market.

According to Martinez, “this stage might present a unique opportunity to acquire MANA before a potential market upswing!”

However, an assessment of MANA’s performance on a da…

The post MANA Enters ‘Depression’ Phase; LDO May See Bullish Breakout Soon appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.