MANA Price Analysis: MANA has been on a bullish momentum after taking support at $ 1.81

• MANA Token Price broke out of a descending triangle patten earlier this month
• MACD indicator hints at bullishness over the next few trading sessions on the daily chart
• The coin has been on a bullish paralle channel on the hourly chart

MANA Token Price has broken out of a descending triangle during the last trading month. The coin has however been consolidating after taking support at $ 1.81 on the daily chart. The coin has been on a bullish momentum over the last 10 days and this trend looks to continue at least till the base of the descending triangle pattern, which has now become a resistance zone for the token. The coin earlier made a breakout from a bullish flag pattern as visible on the chart. The Moving Average Convergence Divergence (MACD) chart hints at bullishness for the coin over the next few trading sessions.

MANA Token price has been on a bullish wedge pattern over the past few trading sessions as visible on the hourly chart. The volumes have also seen an increase on average during the last few sessions. However, the coin is nearing a short-term resistance on the chart and it remains to be seen how the coin behaves at that zone. The coin looks set to continue on this bullish momentum going by momentum indicators on the daily chart.

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Conclusion:

Mana has been on abullish paralle channel over the last few trading sessions and looks to continue the trend going by the MACD indicator on the daily chart. The coin had earlier broken out of a descending triangle pattern.

Support: $ 1.81

Resistance: $ 2.70

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