Crypto News – The weekly chart for Decentraland (MANA) is showing a sell signal, according to information shared by cryptocurrency trader and analyst Ali Martinez in an X post yesterday.
MANA Sell Signal Seen, but the Currency Price Could Decline at Any Moment
The analyst stated in the report that MANA might be gearing up for a price correction based on the TD Sequential on the altcoin’s weekly chart.
Since June of this year, Martinez claims that the TD Sequential has been a dependable resource for “pinpointing local bottoms” on MANA’s weekly chart. It appears that the bearishness indicated by the signal has peaked over the past 24 hours.
MANA Price Down 1.59%
According to data from CoinMarketCap, a platform that tracks cryptocurrency markets, MANA was down 1.59%. At the time of publication, the altcoin was trading for $0.4927. This came about following MANA‘s achievement of hitting a high of $0.5026 on the previous trading day. The price of the cryptocurrency has dropped to its present level after reaching this peak. However, compared to its low of $0.4798 over the same period, it was still trading somewhat closer to this 24-hour high.
On MANA‘s daily chart, a symmetrical triangle has formed, which may indicate that MANA will shortly break out. The $0.5215 resistance level may turn into support if the altcoin’s price makes a positive move in the upcoming days. MANA might then rise to $0.6265 if a daily candle closes above this barrier. However, in the next few days, MANA can drop below $0.4125 in the event of a bearish breakout.
Leave a comment