MANA Technical Analysis: Price at 200-Day EMA Aims to Touch $3

The MANA coin price aims to overcome sellers at $2.5 to regain bullish momentum and bring a bullish breakout of a long-coming resistance trendline. Decentraland is designed to serve business owners, content creators, and people searching for a fresh artistic medium or business opportunities. It is also among the increasing number of initiatives that employ a DAO structure to govern decision-making. Therefore, MANA token holders are in charge of how the Decentraland world operates. By making and voting on updates to the policy and the particulars of the forthcoming LAND auctions and the content allowed by the metaverse. Let us move ahead to read about Decentraland technical analysis. Past Performance of MANA The MANA coin price action finally gains some bullish momentum to rise after a streak of lower price rejection candles near $2. However, the price struggles to sustain above the 200-day EMA and the sellers at $2.5 keep the bullish growth in check. Therefore, the token price must surpass the $2.5 mark to continue the uptrend. MANA/USD Daily Chart MANA Technical Analysis The MANA coin price will have sellers at the long-coming resistance trendline after it surpasses the $2.5 mark. However, increased trend momentum might result in a bullish breakout. The crucial Exponential Moving Averages struggle to sustain the uptrend as the falling 50 and 100-day EMA might soon give a bearish crossover. Moreover, the price struggles near the 200-day EMA. The Momentum Indicator shows a slope below the zero line indicating a downtrend in action. However, the slope dictates a bullish divergence as the slope rises higher to escape the negative territory. The Commodity Channel Indicator shows a bullish reversal as the slope exits the oversold zone to rise closer to the neutral territory. However, the slope remains below the zero line reflecting a significant underlying bearishness. Therefore, the technical indicators reflect a rising buying pressure in MANA, threatening to overturn the sellers-driven market. Upcoming Trend The MANA coin price continues to resonate within the falling wedge pattern as it finds support near the $2 mark. The token price must overcome the $2.5 level to reach the resistance trendline.  The released trend momentum might soon break $2.5, hence, buyers at current prices can target $2.5 and $2.85. On the opposite end, a reversal from $2.5 will result in a free fall to the $2 mark. In a shorter timeframe, at press time, TradingView gives a “BUY” signal for the MANA token. Technical Analysis for MANAUSD

The post MANA Technical Analysis: Price at 200-Day EMA Aims to Touch $3 appeared first on Cryptoknowmics-Crypto News and Media Platform.

Source: https://www.cryptoknowmics.com/news/mana-technical-analysis-price-at-200-day-ema-aims-to-touch-3/