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since the last readPrice has left the range the coin's last read drew.
Price has left the range the coin's last read drew.
Daily downtrend since Sep 30, falling — the last lower high is 0.5629
The setup is clearly bearish while MNT stays under 0.4554: price has bounced into a level that capped it 2 times.
Backing it: on the daily chart, each peak and each dip has been lower than the last, the indicators favour the sellers' side and the weekly chart is down.
Price is under the 50-day average (0.5658). It is under the 200-day average (0.5400).
The last 5 days are down 3.9%.
Price is 19.6% under 0.5629, the last lower high, and 4.9% over 0.4316, the trend's low.
What kills the setup: a daily close over 0.4554, 0.6% away.
For it: The trend has real strength, with the sellers in control; price is under the average price buyers have paid since the 0.3864 low, 0.5423, so those buyers are losing money.
Against it: nothing on the chart right now.
While MNT stays under 0.4554 the setup stays bearish; 0.4316 is the next line it has to break.
A 1D close above 0.4554 ends the bounce into resistance in a downtrend; the next level up is 0.4645.
A 1D close below 0.4316 carries the downtrend past its last low; the next level down is 0.4232.
0.4316 is the floor — the trend's low, set Nov 5.
0.5629 is the ceiling — the last lower high (Oct 22) — the line the downtrend stays under.
0.4645, a 0.618 retracement 2.6% above price: sellers turned price there on 1 of 2 visits.
MNT has been in a downtrend since Sep 30: its lows have stepped down (0.5500, then 0.5081, then 0.4316), and so have its highs (0.7045, then 0.5953, then 0.5629). Price is 4.9% over the trend's low, 0.4316 (Nov 5). The last lower high is 0.5629 (Oct 22), 19.6% above price; no daily close has gone over it.
The weekly picture: a weekly downtrend, 84% under the cycle high; on the daily, price is below the 200-day average (0.5400), and the 50-day average is above the 200-day average. The daily trend goes the same way as the weekly.
Against BTC: over the last 5 daily candles MNT moved -3.9% and BTC -1.2% — MNT is the weaker chart.
Sellers have had the daily since Sep 30: each bounce has been sold lower than the last, and no daily close has cleared a lower high.
The rest of the chart backs the downtrend. The trend has real strength, with the sellers in control. Price is under the average price buyers have paid since the 0.3864 low, 0.5423, so those buyers are losing money.
| Level | Price | From price | Role |
|---|---|---|---|
| Swing high | 0.618 | +36.5% | swing, read |
| Swing high | 0.5658 | +24.8% | swing, read |
| Swing high | 0.5629 | +24.4% | swing, read edge |
| Swing high | 0.5400 | +18.8% | swing, read |
| Order block | 0.4817 | +6.4% | order block, fib |
| 2-TF resistance | 0.4771 | +5.4% | confluent, calendar |
| Golden pocket | 0.4645 | +2.6% | golden pocket, calendar |
| 2-TF resistance | 0.4554 | +0.6% | confluent, calendar |
| Order block | 0.4490 | -0.8% | order block, calendar |
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