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Breaking News: SoftBank, Ark Invest Among Potential Investors In Tether's $15 Billion Funding Round

MANA Bulls May Outsmart The Bears If They Stick To These Support Lines

Christian Encila
Christian Encila
3 years ago
2 mins read
Decentraland

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Created by industry experts and meticulously reviewed
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Decentraland (MANA) may appear bullish as seen in the past couple of days due to buyers keeping the prices up hovering above 200 DMA as observed on the hourly chart. Regardless, the token still trades the sideways horizontal range with $0.75 for support and $1.0 resistance.

With the escalation seen on the hourly chart, trading volume has also spiked by 290% in the past couple of hours. Buyers saw a decline in MANA in triggered by the sell-off as it saw a decline to a 90-day low of $0.772 last May of 2022.

Despite the aggregation seen on the sideways range in the past few days, speculators saw the formation of a rounding bottom pattern on the daily price chart. With that said, buying of the token has intensified which prompted the price action to form higher-highs.

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Decentraland Blooms In Green In Last 4 Days; Boosts Traders’ Appetite In MANA

3 years ago

MANA Price Currently Trades at $1.02; Drops by 2.36%

According to CoinMarketCap, MANA price is currently trading at $1.02 or a dip of 2.36%. Despite it being bullish, the market capitalization stays neutral at around $2 billion as seen in the past 24 hours. With the rise of MANA, speculators also saw a boost in trading volume by 290% in the past 24 hours but still the MANA/BTC pair has dipped by 1.4%.

The price of MANA may rally as buyers keep the momentum and price up or above 200 DMA as presented on the hourly charts. On the daily charts, the 20-day EMA remains to be pumping zone for many buyers because the bears can’t intervene as long as they stick to the support lines.

MANA Overbought, Needs to Attract New Buyers

RSI also continue to hover and breached bullish hurdle above the semi-line, moving towards the overbought zone. More so, the MACD indicator also pinpoints to an uptrend seen on a daily time frame. MANA is moving towards the resistance zone. So, even if the coin is regarded as extremely bullish, there is always the potential of the coin to rally above the resistance line of $1.5.

After a bitter-sweet taste of uncertainty, the coin is now soaring high with some interference coming from the bears. Apparently, Bitcoin’s price spike is a huge boost to MANA’s uptrend movement as the king of crypto, which now trades above the 23k mark, supports and pushes the token.

The rate of recovery shown by MANA may not be enough to boost investor confidence and the token may need to attract more new buyers to ensure full and continuous recovery.

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TRON (TRX) TVL Accelerates To Nearly $2 Billion Last Month

3 years ago

MANA total market cap at $1.9 billion on the daily chart | Source: TradingView.com
Featured image from CoinCentral, Chart from TradingView.com
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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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