BULLISH BREAKOUT?? Optimism & Decentraland Price Prediction

Hey guys what’s up it’s frank here from Altcoin buzz good morning good afternoon Or good evening wherever in the world You find yourself So this week we have a couple of Cryptocurrencies we’re going to talk About one of them very new has been Supported by vitalik himself the creator Of ethereum but before we have a look at Those two let’s have a brief overview of The top crypto currencies ada Really standing out from the crowd here 29.3 Growth over the past seven days and in Fact now most altcoins are trying are Showing some growth some signs of a Potential relief rally over the past Seven days so it’s quite an exciting Time to be looking at the markets There’s a lot of cryptocurrencies which Are at a crux point which are Contracting in a zone which will be Determining how the price will be moving Over the coming weeks so now is a very Important time to be looking at the Market so the two cryptocurrencies which We are going to cover today the first One which has been supported by vitalik Is of course optimism we’ll just have a Very brief look at that it’s only been Trading a few days but as you can see It’s already one of the trending coins And the second one we will be looking at Is decentraland mana decentraland mana

Of course is in the top 100 Cryptocurrencies you can see it here in 46th place so mana has one very very Interesting indicator on the three-day Time frame so i will be showing you why Now is an important time to be watching The charts and especially to be watching Over the coming two days and 18 hours From the time of recording this video Because within these three days Something very important will happen Here on this indicator and this will Determine the likelihood of a rally Starting from here now for those of you Who don’t know al quinn buzz is first And foremost a crypto investment Research company and we have been Providing you numerous 100 x returns Since 2017. so if you want to get in on that Action join our alt queen buzz access Group where we document up-to-date Research covering undervalued altcoin Gems nft minting opportunities and our Portfolio strategies so if you want to Get part of the action click the link up Above or down in the pin comment section Down below please don’t forget to like Subscribe and click the notification Bell so that you don’t miss any future Updates And finally please note that none of This is financial advice [Music]

Okay so starting with optimism as i Mentioned you can see here on coin gecko That optimism is one of the trending Coins and optimism currently is only in 161st place however we are seeing 232 000 In trading volume which you can see is Significantly more than most of the Other altcoins on this second page of Coin gecko and that’s because likely Because as we mentioned a couple days Ago ethereum’s founder Vitalik buterin signaled his support you Can check out this video which we posted On june 4th to get more information About that but basically we have been Trading for just a few days now so There’s really not much to say about This we don’t have a long-term trend we Are currently in a downtrend on the Hourly chart this can be said of many Other cryptocurrencies we do have this Downwards sloping trend line if we break Out of that there’s a good chance we’ll See some movement up however we have Likely resistance in this zone around The 1.382 Dollar level and of course we have a Very important support here at the 1.094 dollar level that’s where we had a Candle close here and we have more or Less a double bottom just below that if You look at the wicks so this is an Important support zone and otherwise we

Are waiting for more price action before We can really make any conclusions about This now when it comes to mana of course We have many many months of price data And what’s fascinating about mana is That despite having retraced 89 Since the all-time high The monthly chart is still in an uptrend Look we have a high in april 2021 a Couple months later a low then we had a Higher high and this is no more than a Potential higher low so it just goes to Show that although we see big dumps in The crypto space the pumps are so big That oftentimes the dumps don’t even Take us below the previous critical Support levels and still Enable us to maintain this uptrend okay So let’s now go down to the weekly time Frame On the weekly time frame we are not Seeing too much of interest here too Much of value of course we can see the Volume profile which is showing that Right now we are above an important zone But this is more clearly seen on the Daily time frame so let’s go down to the Daily here So as you can see there’s this massive Blue and yellow bar and what this Signifies is that in this zone between The 0.6 And the 0.85 dollar level approximately within

This zone slightly above as well there Has been a significant trading activity As you can see when i zoom out the zone Actually Expands to the 1.05 dollar level so Again there’s been significant trading Activity within this zone and that means That If we stay above this zone we are likely To find it as support and similarly if We go below it it’s likely to act as Resistance moving forward so there’s a Lot of fighting going on between the Bulls and the bears to see who can Either find support at this zone or who Can use it as resistance now i Personally don’t think that the bears Are going to win on this one yes we are In a downtrend so technically the trend Is still your friend But i certainly would not be shorting This because i do think that we are over Extended and because we are above Somewhat above this zone and because we Have seen such a massive retracement for Mana my personal prediction is that we Will actually find support here and have A relief rally before we go on let me Know down in the comment section below Do you think we will break bullish out Of this zone that we are in in other Words do you think we will break bullish From the 1.14 Level move up and above it or do you

Think we will break bearish and continue This four hour downtrend and break the 0.9 Level type down below bullish or bearish Okay so before i show you the supports And resistances the levels you need to Be watching this is the time frame that You really have to be watching this is Where something critical is happening Have a look at this this is the three Day time frame on mana usdt and over Here on the macd we are seeing a Potential bullish crossover that’s when This blue line crosses over the orange Line this is called a bullish macd Crossover and what’s even more Significant is that it’s happening below The zero line because this often signals The end of a downtrend now we did have a Fake out over here where we had a Crossover but unfortunately we had a big Move down there after However as you can see we did have a big Oversold signal here on the rsi on the Three day time frame and as mentioned we Still have two and a half days left Before this Three day Candle closes but if this remains green If the histogram here remains green and We have this crossover then this Definitely could be a sign that we are Seeing a relief rally and of course Another important sign to watch out for

Is this Long Diagonal line again we’ll go down to the Daily time frame to look at that in more Detail you see we had two pivot points On this diagonal resistance so if we Break through this diagonal resistance And we see this three-day crossover that Will be a good sign for the bulls okay So when it comes to support levels i’m Marking the 0.91 Level as the major support we had a Double bottom there and certainly this Will be an important support to hold in The short term in the more medium term We have the 0.6 dollar level this level has Historical significance because we had a Double bottom sort of just above this Level and we had a candle taking us Almost all the way down here so very Important that we hold this level as you Can see it also marks the very bottom of This High volume profile range so again very Very important that we hold that and if We don’t hold that then we will likely See a violence dump down to the 0.3743 dollar level which marks of Course a very important previous weekly Pivot point Now when it comes to the resistances the Initial resistance and the most exciting One is the 1.4

Dollar level 1.41 now why is this Exciting as i mentioned we have this Diagonal resistance line which is Showing on the daily time frame and if i Just Double click it and then click Visibility and hours then you will see That it also shows on the four hour time Frame so as mentioned this horizontal Level this 1.141 level Not only does it mark Previous resistance multiple times that We’ve struggled to get past it but it Also marks a point at which if we cross It we will very likely cross this Diagonal line as well and then we will Very likely have this three-day bullish Crossover on the macd and then Thereafter The next resistance is really not that Significant the next resistance will be Rather minor in comparison to this one Because After we break this as mentioned we’ve Broken the horizontal resistance we’ve Broken the diagonal resistance we’ve Seen a very Good sign of a Reversal on the macd again this is all Hypothetical for now So we will likely see a big move up and Of course then we would see just 20 Percent

Up to the 1.3653 Level but really after that There’s A huge liquidity gap and what do i mean By that i mean that the price has not Spent much time trading above this 1.36 Dollar level There’s just been a very violent Dump down and there was a very quick Move up from it so if we have this Initial momentum taking us up we could Likely see a very very important notable Relief rally and then the next Resistance would potentially be the 0.618 Retracement of this whole move down Which is the 1.98 dollar level so as you can see a Very very big potential move up from There Almost 45 All right guys so that’s been it from me For today be sure to be watching the Charts here on tradingview.com be sure To be checking out the three day time Frame and also don’t forget to check out My previous videos if you enjoyed this Analysis you can see my previous videos Up here And with that being said guys I’ll see you the next one [Music]