The Market Periodical
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
Contact Us
  • Login
The Market Periodical
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
Contact Us
The Market Periodical
Home Cryptocurrency

MANA token price analysis: MANA token surges up, what’s next?

Antonio K Smith by Antonio K Smith
February 6, 2023
in Cryptocurrency, Markets, News
0
Decentraland Price Analysis
193
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
  • The MANA token price is trading at the supply zone on a daily time frame.
  • MANA token price is forming a rounding bottom. pattern on a daily time frame.
  • The pair of MANA/BTC is trading at the price level of 0.0000418 with a decrease of -2.29% in the past 24 hours.
Source: MANA/USDT by tradingview

According to the price action, the MANA token price is bullish because it is holding at the supply zone. On a daily basis, the token price has risen from the demand zone to the supply zone. The recent bearishness in the cryptocurrency market has had no effect on the token price, which is still on a bullish trajectory. On a weekly basis, the token price is forming a lower low and lower high formation.

Daily, the token price is forming an upper high and upper low price structure. Currently, the MANA token price has begun to consolidate near the supply zone. Despite the market’s strong bearish pressure, the MANA token price has managed to stay above the demand zone.

Related articles

TON Price Analysis

TON Coin Price Analysis: Coin Price To Make Big Move

March 24, 2023
FET

FET Coin Price Analysis: Coin Price Changes to $0.5 Level

March 23, 2023

The MANA token price is currently trading above the 50 and 100 Moving Averages. The recent rise in the token price resulted in the breach of these critical moving averages. As the token price rises, it can be seen resting at these moving averages. After bouncing off the lower band, the MANA token price is now trading at the upper band of the Bollinger band indicator. Volumes have increased, causing volatility to rise, and investors should remain cautious until a clear trend emerges.

The MANA token price is forming a rounding bottom pattern on a daily time frame

Source: MANA/USDT by tradingview

Relative Strength Index: The RSI curve is currently trading at 54.45. The RSI curve has passed the 50-point mark. As the token price bounces off the demand zone, the RSI curve moves upward, crossing the 60 mark and supporting the MANA token’s trend. The RSI curve has also crossed below the 14 SMA, indicating some bullishness ahead of further movement. If the token falls below the demand zone, the RSI curve will fall further, and if it breaks through the supply zone, the RSI curve will rise higher.

Supertrend: The MANA token price increased as the demand zone exerted strong bullish pressure. Until now, the token price has been consistently rejected at the super trend sell line, but recent bullishness has resulted in a breakout of the super trend by line. As a result, the token price increased, and the super trend indicator signaled a buy. As the MANA token price rises, it may come to rest at the super trend by line.

Average Directional Movement Index: The ADX curve has been rising over the last few trading days. The ADX curve was seen supporting the trend as the token price rose from the demand zone. The ADX curve has turned sideways, indicating that price movement has come to a halt. If the bulls do not maintain control and the bears seize it, the MANA token will fall from the supply zone. This ADX curve is also rising, which supports the trend.

Conclusion: The MANA token price is trading at the supply zone, as per the price action. The token price is forming a bullish chart pattern at the demand zone. If the token price breaks the supply zone and starts moving up the technical parameters can also be seen supporting the trend. As of now, it remains to see if the token price will break the supply zone or fails to do so and fall. 

Support: $0.740 and $0.710

Resistance: $0.810 and $0.850

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss

Tags: Cryptocurrency
Share77Tweet48
Antonio K Smith

Antonio K Smith

Antonio is a travel photographer by profession and came across the Crypto world during his profession. Since then his love, knowledge and interest towards the technology have increased. He brings his passion to create in his articles.

Related Posts

TON Price Analysis

TON Coin Price Analysis: Coin Price To Make Big Move

by Ritika Sharma
March 24, 2023
0

TON coin price has been on an uptrend for the past couple of days; the coin price has reached the...

FET

FET Coin Price Analysis: Coin Price Changes to $0.5 Level

by Antonio K Smith
March 23, 2023
0

FET coin price is transacting at the long term supply zone after showing one side bullish rally.FET coin price is...

GPT

GPT Token Price Analysis: Token Shows One-Sided Move, What’s Next?

by Nancy J. Allen
March 23, 2023
0

GPT token price is bullish despite a temporary setback in the cryptocurrency market.The GPT token price is resting above the...

DOT Price Analysis

DOT Coin Price Analysis: Coin Price Retraces At the 0.5 FIB Level

by Antonio K Smith
March 22, 2023
0

DOT coin price has been falling from the past couple of trading days as it goes below the previous low.DOT...

APE Price Analysis

APE Coin Price Analysis: APE Coin Rests at $4.200 Level

by Antonio K Smith
March 22, 2023
0

APE coin price trades at the demand zone after facing bearish pressure from the falling trendline.APE coin price is forming...

Load More
  • Trending
  • Comments
  • Latest

Kadena price analysis: KDA coin is following the upwards trendline after forming the bullish pattern

February 9, 2022
AMP Price Analysis: AMP Coin Trading in Horizontal Range-Bound consolidates, Will it be able to retain up to $0.088?

Will Amp Token’s Escalating Demand Drive Its Price To $1?

February 21, 2022
cryptocurrency

AQUA Airdrop is set to Roll out!

January 7, 2022
MIOTA Price Analysis: IOTA Token Price Struggles To Sustains Higher Than $1 Mark

Firefly Wallet Powered by IOTA, Starts Staking on Shimmer and Assembly Tokens

December 23, 2021
TON Price Analysis

TON Coin Price Analysis: Coin Price To Make Big Move

0
Bitfinex

Bitfinex Lets Users Earn on their Bitcoin with Celsius

0
Binance Burned the Highest Number of BNB Tokens Till Day Worth $68 Million

Binance Burned the Highest Number of BNB Tokens Till Day Worth $68 Million

0
Cryptocurrency

U.S. Congress Members Have Introduced 40 Bills on the Subject of Cryptocurrencies

0
TON Price Analysis

TON Coin Price Analysis: Coin Price To Make Big Move

March 24, 2023
FET

FET Coin Price Analysis: Coin Price Changes to $0.5 Level

March 23, 2023
GPT

GPT Token Price Analysis: Token Shows One-Sided Move, What’s Next?

March 23, 2023
DOT Price Analysis

DOT Coin Price Analysis: Coin Price Retraces At the 0.5 FIB Level

March 22, 2023
  • Home
  • Contact Us
  • SUBMIT PR

© 2022 The Market Periodical

 
No Result
View All Result
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
  • Contact Us

© 2018 JNews by Jegtheme.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password?

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?