MANAUSD - BULL FLAG INDICATION - 16 -MARCH -2021

MANAUSD

Looking to form a bull flag as well as the ascending triangle formation.

Price looking bullish.

Reasons to be bullish
1) RSI above 55, in bullish zone
2) Strong support at 0.95 area
3) Forming a bullish patterns - ascending triangle and bull flag
4) Macd - still green on daily, lower TF Macd still red due to yesterday BTC dump
5) Shorter TF Macd turn green after reaching the support level, good indication that momentum building up at support area, looking bullish
6) Supported at 4 hours 20MA
7) Above all MAs
8) BTC seems to find support around 53.5k - 54k area - 0.618

Recommended entry : USD 0.95-0.98, stop loss daily closing below 0.93

Possible targets - short term - USD 1.28 , long term - if bull flag playout - price can reach USD 1.7 in coming weeks

Overall price still looking good for MANAUSD