MANA Value Prediction: MANA Sellers Breach Main Help Ranges; Will MANA Value Revisit $2 Help?

On March seventh, the Decentraland(MANA) sellers took the ultimate leap and breached the continuation symmetrical triangle sample. As we speak, the coin worth provides a retest to the breached help the place the long-wick rejection candle suggests a possible 15% fall.

Key factors:

  • The MANA chart reveals greater worth rejection at its flipped $2.4 resistance
  • The 24-hour buying and selling quantity within the Decentraland token is $430 Million, indicating an 8% acquire. 

TradingView ChartSupply-Tradingview

Over the previous two months, the MANA/USD pair resonated inside a symmetrical triangle sample. Moreover, the latest correction part initiated from the February ninth excessive($3.54) devalued the altcoin by 33% and plunged to the $2.4 help.

The coin chart reveals a confluence of necessary technical help on the $2.4 stage, i.e., the 200-day EMA and ascending trendline. The bulls have been anticipated to defend this help and drove the value greater; nonetheless, on March seventh, a bearish breakdown from this stage indicated the triangle sample revolved within the bear’s favor.

As we speak the MANA worth turned inexperienced, and tried to reentry the triangle sample. Nevertheless, the sellers instantly rejected the coin worth, and the long-wick candle formation highlights that the help has flipped to help.

The renewed promoting strain may droop the altcoin by16%, bringing it again to the January low help at $2.

Alternately, If the patrons may push the coin worth above the $2.4 mark, the ensuing fakeout would surge the value to $2.8.

Technical Indicator

The patrons misplaced their final line of EMA protection(i.e., 200), offering a superb edge for short-sellers. Furthermore, a destructive crossover of the 50 and 100 EMA intensifies the promoting momentum.

The MACD indicator reveals that the quick and gradual are steadily decrease within the bearish territory, indicating the sellers dominate. 

  • Resistance stage: $2.4 , $2.8
  • Help stage: $2, $1.7


The offered content material might embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.

About Creator

Source link

Related articles

Testing Nvidia DLSS 3.5 Ray Reconstruction Utilizing Cyberpunk 2.0

The following iteration of Nvidia's DLSS expertise has landed and immediately we're trying out what DLSS 3.5 is and extra particularly, take a more in-depth take a look at its new ray reconstruction...

Alibaba: The Subsequent Period Begins (NYSE:BABA)

Alibaba's trailing twelve months EBITDA has peaked in early 2020, which means the Q3 2019 to Q2 2020 interval was one of the best from a profitability perspective. In 2022,...

5 Most Essential Developments in DeFi: Unpacking Token 2049

The next is a visitor put up from Srikumar Misra, founder at aarnâ protocol.A quintet of interwoven vectors: DeFi, stablecoins, AI, regulation, and liquidity are massive themes bouncing round, posing obstacles and deep...

Professional Picks: Nail Down PulteGroup Earlier than the Subsequent Surge

After a short hiatus, we’re again with a recent set of Professional Picks - and PulteGroup Inc (NYSE:) is a rock-solid spotlight amongst 4 high shares that haven't solely earned high InvestingPro well...

X social media’s India, South Asia coverage head Gupta resigns-sources By Reuters

© Reuters. FILE PHOTO: The brand for social media platform X, following the rebranding of Twitter, is seen masking the previous emblem on this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Picture By Aditya...

Latest articles


Please enter your comment!
Please enter your name here