Cijena MANA-e se možda srušila za 42%; Evo zašto

The market participants showing strong interest in the discounted metaverse tokens have brought a significant recovery in Decentraland (MANA). Though the recent bullish reversal from $0.65 support doubled the altcoin price in just three days, the buyers still struggle to surpass the dynamic resistance trendline.

Ključne točke:

  • The MANA price faces supply pressure at a descending trendline.
  • A possible reversal would encourage the MANA sellers to pull the price back to $0.65
  • The 24-hour trading volume in the Decentraland token is $1.57 Billion, indicating a 27% gain. 

MANA/USDT grafikonIzvor-Tradingview

A symmetrical triangle pattern fallout on April 6th, outburst a strong selling momentum trapped within this 4-month consolidation. The price pattern bolstered MANA sellers to resume the prevailing downtrend and breach the immediate support level of $2.

Amid the recent sell-off in the crypto market, the downfall pierced through some additional support levels and marked $0.63 as the new 2022 low. Furthermore, the MANA sellers actively respond to a resistance trendline to maintain a steady downfall.

However, on May 13th, the MANA price bounced back from the $0.63 support and surged 106% to retest the descending trendline. Moreover, a high-wick rejection attached to the daily candle suggests that altcoin faces strong selling pressure.

A possible reversal would encourage the MANA sellers to pull the price back to $0.63.

However, a significant rise in bullish reversal could assist traders to breakout from the overhead resistance and drive the altcoin price to the $2.8 mark.

Tehnički indikator

The Supertrend indicator highlights an overall downtrend and bolsters the reversal theory.

In addition, the daily-RSI slope shows significant divergence and follow-up rally contrary to the falling price, indicating the overextended selling has stabilized. However, if the divergence grows stronger, the altcoin may eventually breach the resistance trendline.

  • Resistance level: $1.11 , and $1.66
  • Nivo podrške: $0.62 i $0.4

Posljednjih 5 godina radim u novinarstvu. Pratim Blockchain & Cryptocurrency u posljednje 3 godine. Pisao sam o raznim temama, uključujući modu, ljepotu, zabavu i finansije. raech mi na brian (at) coingape.com

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Source: https://coingape.com/markets/mana-price-may-tumble-by-42-heres/