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Vikram
Mar 10, 2022
by Vikram

MANA Technical Analysis: Collapsing 200-day EMA Warns 15% Decline

MANA
MANA coin price shows the sellers gaining trend control near the trend-defining 200-day EMA, indicating a free-fall to the $2 mark. 

Key technical points:

  • The 200-day EMA struggles to sustain the trend. 

  • The RSI maintains below the 14-day average. 

  • The 24-hour trading volume in the Decentraland Token is $428 Million, marking a 2% fall. 

    • Past Performance of MANA

    MANA coin price shows the downtrend after the symmetrical triangle breakout hanging close to the 200-day EMA. The recent morning star near the EMA forecasted a rally to the broken trendline, but the recent sell-off damages the bullish longing at the $2.50 mark. 

    TradingView Chart

    MANA Technical Analysis 

    MANA coin price shows a 3.45% decline from the confluence of the 50-day EMA and the crucial emotional barrier at $0.055, vandalizing the bullish renewal and increasing the chances of fallout.

    The falling 50-day EMA maintains the threat of a death cross as the downtrend continues after the triangle fallout. The altcoin prices hang tight to the 200-day EMA, and closing below will imply the start of a downfall.

    RSI Indicator: The RSI slope fails again to spike above the 14-day average and reaches the 50% mark. The negative-ish trend continues under the bearish influence indicating a potential fall to the oversold zone. 

    Stochastic RSI Indicator: The reversal from the oversold zone brings a bullish crossover of the K and D lines. The rising lines will increase the bullish spread, but a downfall below 200-day EMA will prematurely close the bull cycle.

    In a nutshell, MANA technical analysis casts a bearish shadow as the 200-day EMA shivers.

    Upcoming Trend

    MANA coin price might continue the downfall to reach the $2 mark as the 200-day EMA breakout seems imminent. Hence, traders can shortly find a selling opportunity. However, if a bullish reversal closes above the $2.5 mark, an uptrend to $3 is plausible.

    Support Levels: $2.15 and $2

    Resistance Levels: $2.5 and $3

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    Decentraland MANA
    MANA Technical Analysis: Collapsing 200-day EMA Warns 15% Decline
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

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