MANA Technical Analysis Jan 24

While the MACD histogram continues to stay in the positive region, RSI at 57.83 level gives a neutral-bullish momentum signal; although short-term recovery potential is increasing, BTC pressure is noteworthy.

Trend Status and Momentum Analysis

MANA is currently priced at 0.16 dollars and maintains an overall uptrend structure despite a 12.43% drop in the last 24 hours. Its position above the short-term EMA20 (0.15 dollars) indicates that momentum still carries positive momentum. However, with the daily range squeezed between 0.16-0.19 dollars, volume at 64.50 million dollars was at a moderate level and did not fully confirm this drop. Although momentum oscillators give mixed signals, the bullish MACD status and RSI above 50 point to underlying strength. While the Supertrend indicator gives a bearish signal (resistance at 0.21 dollars), MTF confluence with 16 strong levels (1D: 3S/3R, 3D:1S/4R, 1W:3S/3R) reduces trend fragility. Nearby supports at 0.1585 (75/100) and 0.1472 (78/100) stand firm, while resistances at 0.1672 (80/100) and 0.1794 (61/100) await testing.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

RSI (14) is currently at 57.83 and shows a bullish tendency in the neutral zone. Despite the recent drop, no clear regular bearish divergence is observed in RSI; as price made new lows, RSI formed higher lows, which can be interpreted as a hidden bullish divergence and a positive sign for the continuation of the uptrend. On the daily chart, RSI holds above 50, while on the weekly timeframe it consolidates around 55. This structure suggests that momentum has not weakened and buying pressure could kick in even in a potential pullback. If RSI gains momentum toward 70, we could receive a strong rally signal before overbought; the current 57.83 value reflects a healthy consolidation band.

Overbought/Oversold Regions

RSI is far from overbought (70+) or oversold (30-) regions; at 57.83, momentum has shifted from neutral to bullish. During the last 24-hour drop, RSI did not fall below 50, showing resistance and emphasizing that sellers’ strength is limited. Weekly RSI hovers near 52, supporting long-term trend strength. When confirmed by volume, RSI’s current position may signal short-term bottom formation, but if BTC dominance increases, there’s a risk of testing the 40 level.

MACD Signals and Histogram Dynamics

MACD is in bullish status and the histogram continues to expand in the positive region, confirming that momentum is still in favor of buyers. Although the distance between the signal line and MACD line has narrowed, the crossover has not broken; histogram bars stabilized instead of shrinking during the recent drop, indicating that selling pressure could not erode momentum. On the daily chart, MACD is positive at 0.004 level, and the histogram’s support of the zero line from above is critical for uptrend continuation. If the histogram expands again (e.g., 0.006+), we can expect a quick move toward the 0.1672 resistance. This volume-aligned structure reduces false breakdown risk and brings the medium-term target of 0.2961 (16 points) into play.

EMA Systems and Trend Strength

Short-Term EMAs

Price continues to hold above EMA20 (0.15 dollars), preserving short-term bullish bias. Although there’s contraction in the EMA10 and EMA20 ribbon, price holding above this band confirms momentum strength. A strong bounce from EMA20 was observed in the recent drop, supported by volume increase, earning positive points in trend strength measurement. In the short term, EMA20 will serve as dynamic support; if broken, a test toward 0.1585 could come.

Medium/Long-Term EMA Supports

The ribbon structure with EMA50 (around 0.155) and EMA200 (around 0.14) remains bullish-sloped, though the recent price action tested the ribbon. EMAs are supportive in medium-term trend strength measurement; volume increase can be expected as price approaches EMA50. Staying above long-term EMA200 is vital for maintaining the overall uptrend. Ribbon dynamics increase the potential for explosion after consolidation.

Bitcoin Correlation

BTC is at 89,723 dollars with a 0.30% drop in 24 hours, signaling downtrend; Supertrend is bearish while main supports are at 88,400 and 86,629 dollars. As altcoins like MANA are highly correlated with BTC, BTC’s failure to break 91,190 resistance creates pressure on alts. If BTC dominance increases, there’s slippage risk toward 0.1472 support in MANA; however, if BTC drops below 84,681, liquidity flow could return to altcoins. Key BTC levels: support 88,400 (critical), resistance 91,190. MANA momentum is tied to BTC trend; monitor correlation in MANA Spot Analysis and MANA Futures Analysis.

Momentum Outcome and Expectations

In the confluence of momentum oscillators, RSI at 57.83 and MACD’s positive histogram take center stage; EMAs provide short-term support while volume did not fully confirm the drop. Uptrend is preserved but caution is advised due to BTC’s bearish supertrend. In the near term, breaking 0.1672 resistance brings bullish target 0.2961 into play; otherwise, the 0.1472-0.1585 support band could be tested, with 0.0574 (22 points) as a distant bearish scenario. 16-level confluence in MTF signals consolidation before volatility. Overall outlook: Short-term bullish momentum balanced by BTC movement dependency; trend strength may increase unless divergences develop.