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Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
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Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

MANA Price Gets 2.5% Weekly Boost As Bulls Charge For Reversal

Christian Encila
Christian Encila
2 years ago
3 mins read
MANA

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This week, MANA showcased a slew of 2.5% gains. EMAs are also moving above Decentraland’s token’s price.

  • MANA price tallies 2.5% gains
  • MACD looks flat and not showing any bullish sign
  • Decentraland market cap at $1.29 billion

At this point, MANA’s price is close to its lowest for 2022. The bears are eyeing a new low for the year while also trying to get on top of the costs below the range of $1.0.

Sometime in August, MANA’s price plunged which negatively impacted buyer expectations especially as the coin is still getting massive rejections resulting from the trend reversal.

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MANA Price Down In Market Value 

According to CoinMarktCap, MANA price has nosedived by 3.04% or trading at $0.6949 as of press time.

MANA price has depreciated in market value, prompting the bulls to wait for the next big wave or a confirmation of a trend reversal before moving to consolidate into long positions.

From July to August, MANA appeared to have allowed the bulls’ entry but has failed to offshoot above the $1.0 price level. With that being said, the key resistance level has been marked at $1.0 while the support zone is at $0.64. Evidently, MANA/BTC has also dropped by 2.9%.

After MANA’s price dipped below the 200-day EMA as seen on April 5, 2022, MANA has retreated further since then.

On the other hand, all the other EMAs such as 20, 50, 100, and 200 are doing great as they sprint above the current price. The buyers are trying to push the price near the 20-EMA.

MANA’s RSI shows a spike from the lower regions. This climb validates the optimistic outlook for the token. Meanwhile, the MACD is looking flat into the negative range as seen in the daily price chart.

MACD Shows No Trace Of Bullish Momentum

The MACD is not demonstrating any bullish momentum as both the trendlines are moving over the neutral range.

RSI is looking bullish as the MANA bulls shoot for a slight bounce above the 20 EMAs. On the other hand, the key support level is near the current levels which means the bears can attempt to short-cover at the earliest possible time.

Decentraland is said to be one of the few cryptos that buyers and traders should have on their active wallets, with its huge market cap of over $1.29 billion as of this writing and circulating supply that surpasses that of Bitcoin by at most 100 times.

Many blockchain-based or NFT games have aspired for decentralization but it seems Decentraland remains to be one of the few that are ambitious enough to make it happen. 

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Featured image from Smart Valor, Chart: 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

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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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