MANA Weekly Analysis Feb 5

MANA, maintaining its downtrend structure with a weekly -2.56% loss, is stuck around $0.11; RSI at 33 level giving oversold signals indicating possible accumulation phase signs, but if $0.1035 critical support breaks, downside momentum may accelerate.

MANA in the Weekly Market Summary

MANA closed the week down -2.56% at the current $0.11 price level and stayed within a narrow $0.11 – $0.11 trading range. Volume profile remained low at $12.33M level, while the market preserves its overall downtrend character. In the bigger picture, MANA appears to have entered a consolidation phase within the long-term downtrend. Bitcoin’s downtrend pressure at $72,884 level increases risks for altcoins. Momentum indicators (RSI 33.06) approaching oversold territory, while MACD negative histogram reinforces bearish signals. No close above short-term EMA20 ($0.13) keeps the trend filter bearish. This week, for position traders, the main focus lies in multi-timeframe support and resistance confluences – market structure highlights key levels that will determine the next direction. You can check the link for detailed MANA spot analysis.

Trend Structure and Market Phases

Long-Term Trend Analysis

The long-term trend structure exhibits a clear downtrend character for MANA. On weekly and monthly charts, price has been moving within a descending channel on higher timeframes since 2021 highs. Continuing below EMA50 and EMA200 shows the main trend remains intact. In the market cycle context, after the 2022-2023 accumulation phase, we encountered distribution signals in 2024; the current position points to a possible re-accumulation phase, but the downtrend remains intact “as long as price doesn’t break $0.1526 resistance”. In the macro context, despite being in the early phase of the crypto super cycle, increasing BTC dominance is pressuring altcoins. In this structure, a patient approach is essential for position managers – hasty long positions are risky.

Accumulation/Distribution Analysis

From a Wyckoff methodology perspective, MANA shows accumulation phase characteristics with low RSI (33.06) and decreasing volume; around $0.1035 strong support (81/100 score), ideal for potential spring test. However, distribution patterns are emerging on higher timeframes: rejections in the $0.1197-$0.1526 range signal smart money selling. Volume profile POC concentrated at $0.11, while low-volume consolidation may prepare ground for accumulation. Distribution risk increases in BTC downtrend – if no upside breakout without volume increase, fakeout probability is high. Strategically, confirmation of accumulation phase requires close above $0.1113 and increasing volume.

Multi-Timeframe Confluence

Daily Chart View

On the daily timeframe (1D), there is 1 support / 3 resistance confluence: Price stuck below $0.1113 (65/100), bearish MACD crossover with weak momentum. EMA20 ($0.13) resistance holds strong, while RSI divergence potential may signal recovery from oversold. Market structure preserves downtrend with lower lows; key inflection point $0.1035 – downside breakout for aggressive short, upside for long opportunity test. Among 12 strong levels, resistance weight on daily (3R) limits upward movement.

Weekly Chart View

From the weekly (1W) perspective, resistance-heavy structure dominates with 2 supports / 4 resistances. Price continues below weekly EMA20, not breaking trend structure. Higher timeframe confluence makes $0.1526 main resistance (61/100); breaking here opens upside objective to $0.1886. However, negative histogram and low volume support downtrend continuation. Multi-timeframe confluence gives clear signals to position traders: Support hold confluence for bullish shift, breakout for bearish acceleration.

Critical Decision Points

Key levels will determine direction: Major Support $0.1035 (81/100) – hold confirms accumulation phase, breakout opens downside risk to $0.0446 (22 score). Mid-level $0.1113 (65/100), short-term pivot. Resistances: $0.1197 (70/100) first test, $0.1526 main barrier. These levels carry confluence on 1D/3D/1W timeframes – “Trend remains intact as long as we stay above $0.1035”, below it aggressive downside expected. Strategic R/R: Upside $0.1886 / Downside $0.0446, high reward potential on support hold.

Weekly Strategy Recommendation

In Bullish Case

Bullish scenario: Close above $0.1113 + volume increase targets $0.1197 first, confluence breakout opens to $0.1526 and $0.1886. Long positions can enter with $0.1035 stop-loss; position sizing 2-3% risk. Supportive if BTC stable above $73,266. Evaluate futures contracts for MANA futures market data.

In Bearish Case

Bearish scenario: $0.1035 breakout for short opportunity, target $0.0446. Stop above $0.1113. Despite low RSI, trend structure keeps short bias – avoid martingale, use scale-in. BTC downtrend continuation crushes alts.

Bitcoin Correlation

MANA highly correlated with BTC (%0.85+); in BTC $72,884 downtrend (-4.93% 24h), altcoins under pressure. BTC key supports $71,921 / $60,530 to watch – hold gives MANA breathing room, breakout accelerates $0.1035 test. BTC dominance supertrend bearish, caution for alts: MANA long risky until BTC breaks $73,266 resistance. Dominance drop (BTC correction) becomes MANA upside catalyst. Follow general market overview for MANA and other analyses.

Conclusion: Key Points for Next Week

Next week focus: $0.1035 support test and $0.1113 pivot movement. BTC $71,921 hold + volume increase creates bullish confluence; otherwise downtrend acceleration. Position traders, stay R/R focused – wait for confirmation instead of early longs. Multi-timeframe signals critical for market phase change.