MANA Technical Analysis: MANA Buyers Shatter $1 Ceiling 

Key technical points:

Past Performance of MANA

With the MANA prices gaining new attention near the $0.67 mark resulting in a bullish reversal after a long-coming downtrend. The downtrend started at the $2.85 mark after failing to surpass the psychological mark of $3, resulting in a falling expanding channel and accounting for a 75% fall last month. However, the recent surge brings down the deflation rate close to 50% with a morning star pattern.

Source-Tradingview

MANA Technical Analysis 

MANA price action shows a boom in trading volume, supporting the bullish engulfing candlesticks that shatter the $1 resistance. Hence, buyers managing a closing above the psychological mark will increase the possibility of a bull run to $1.50.

A bearish bias of vital daily SMAs has been trending downwards as the market price rises higher to challenge the 20-day SMA. Thus, a power fight is likely to occur soon to determine the future trend of Decentraland’s native token.

The RSI slope leaves the oversold zone by reversing sharply, forming an elongated bottom, and even overtaking the average line of 14 days.

The Stochastic RSI displays a bullish crossover when the K line crosses over the D line within the oversold zone and begins the new bull market.

Therefore, the momentum indicators show a bullish transition and suggest a trend reversal.

In short, the MANA technical analysis forecasts an uptrend continuation to the $1.50 mark.

Upcoming Trend

If the MANA price continues to attract buyers' attention and the intraday trading volume increases to allow for the price to inflate, traders can expect a bull run above $1. But, the rally breakout rally above $1 will be hindered by the downwardly aligned SMAs. However, those who buy at the current price are likely to see a rise of 50% by the weekend.

Support Levels: $0.85 and $0.70

Resistance Levels: $1 and $1.45