MANA is at a make-or-break level.
Personally, I "think" we see some relief first maybe in a rising wedge fashion before losing the weekly order block. Price doesn't care what I 'think' though, so that's why the parallel channel is there... Claim above it = bull market supercycle narrative in play. Lose it = McDonalds will have a supply shock to their workforce and they'll pay you even less than they already do.
Lose that weekly order block, I don't see the three-day order block holding us up unless Mark and Gary themselves hold up the market.
Combine that with the TOTAL 3 Chart Head and Shoulders pattern forming on the 3D chart in either line or candles, it doesn't look great.
Bull case: Invalidate the total 3 HnS structure for new highs and go to valhalla.
Bear case: Lose weekly OB, bearish retest it and send the token straight to hell aka sub 1.25.
Fundamental narrative: Fed "tightens" into a "risk-off" environment, and people discover "outside" is actually way nicer and realise noone wants a metaverse anyway... glhf.
Personally, I "think" we see some relief first maybe in a rising wedge fashion before losing the weekly order block. Price doesn't care what I 'think' though, so that's why the parallel channel is there... Claim above it = bull market supercycle narrative in play. Lose it = McDonalds will have a supply shock to their workforce and they'll pay you even less than they already do.
Lose that weekly order block, I don't see the three-day order block holding us up unless Mark and Gary themselves hold up the market.
Combine that with the TOTAL 3 Chart Head and Shoulders pattern forming on the 3D chart in either line or candles, it doesn't look great.
Bull case: Invalidate the total 3 HnS structure for new highs and go to valhalla.
Bear case: Lose weekly OB, bearish retest it and send the token straight to hell aka sub 1.25.
Fundamental narrative: Fed "tightens" into a "risk-off" environment, and people discover "outside" is actually way nicer and realise noone wants a metaverse anyway... glhf.