The Decentraland (MANA) price has seen a constant downfall since it last tested the ATH at $5.9 on Nov ‘21. The falling altcoin found first support at $3 and has been beaten down from the sellers-driven trendline finding itself in a symmetrical triangle. The current sideways rally now retests the support trendline. Can buyers wrest control from sellers at this support?
ចំណុចបច្ចេកទេសសំខាន់ៗ៖
- On the daily-Stochastic RSI indicator, the K and D are heading for a bullish crossover
- The MANA price trading above the 200-day EMA maintains an overall bullish trend.
- បរិមាណជួញដូរ 24 ម៉ោងនៅក្នុងសញ្ញាសម្ងាត់ Decentraland គឺ 445 លានដុល្លារ ដែលបង្ហាញពីការខាតបង់ 17.46% ។
ប្រភព -ជួញដូរ
Taking a breather from February’s selloff, the buyers surged the price by 21%, hitting the overhead resistance zone at the 50-day EMA. However, the sellers mounted a stiff resistance and reverted the altcoin as it rests at a crucial support confluence of the 200-EMA and the ascending trendline.
With the triple black crow formation and an attempt to break the crucial support at $2.4, the coin turns green, thus respecting the support and offering a sign of hope to the buyers.
The Stochastic RSI indicator shows the early onset of a bear cycle with the K and D lines taking a dive giving a crossover in the neutral zone. However, if buyers take over trend control near the support confluence, a reversal undermining the bearish crossover is possible.
Hope For MANA Grows With The Morning Star
ប្រភព - ជួញដូរ
MANA price takes support with the long tail formation and creates a morning star pattern at the $2.4 support in the 4-hour chart. Hence, a trend reversal is possible to test the $2.66 mark coinciding with the 50-period EMA.
The 4-hour RSI indicator shows a bullish divergence in the last two lower low formations. However, the slope remains under a bearish influence as it fails to surpass the 14-period SMA. Hence, a breakout of the SMA will generate a short-term buying possibility.
Alternately, If MANA’s price plunged below the $2.4 support, the bears would step in and plummet the altcoin 8% to the weekly support of $2.20.
ការមិនទទួលខុសត្រូវ
ខ្លឹមសារដែលបានបង្ហាញអាចរាប់បញ្ចូលទាំងគំនិតផ្ទាល់ខ្លួនរបស់អ្នកនិពន្ធនិងស្ថិតក្នុងស្ថានភាពទីផ្សារ។ ធ្វើការស្រាវជ្រាវទីផ្សាររបស់អ្នកមុនពេលវិនិយោគលើគ្រីបគ្រីប។ អ្នកនិពន្ធឬការបោះពុម្ពផ្សាយមិនទទួលខុសត្រូវចំពោះការបាត់បង់ហិរញ្ញវត្ថុផ្ទាល់ខ្លួនរបស់អ្នកទេ។
អំពីអ្នកនិពន្ធ
Source: https://coingape.com/markets/mana-price-analysis-support-confluence-hints-25-upside-decentraland-mana/