MANA Technical Analysis: Bears Outgrow The Falling Channel

MANA coin price shows a breakout rally gaining bearish momentum as the sellers surpass the support trendline of the falling channel. Key technical points: MANA prices break below $1.80. The daily 100 and 200-day EMAs prepare a bearish crossover. The 24-hour trading volume of Decentraland is $229 Million, reflecting a hike of 17%. Past Performance of MANA MANA coin price maintains a downtrend within a falling channel starting from the rejection at $3.5 in early February 2022. The bearish pattern accounts for deflation of 45% in the past months and the $2 fallout. However, the recent surge in bearish pressure on the 26th of April results in a bearish engulfing candlestick breaking below the support trendline. Source-Tradingview MANA Technical Analysis The MANA coin price retests the bearish breakout of the falling channel pattern to continue the downtrend under the psychological mark of $2. Moreover, the currently forming bearish candle breaks below the weekly low of $1.80. Striving for a bearish alignment, the falling trend of the crucial 100 and 200-day EMA influences high selling pressure. Hence, the indicator projects a much more likelihood of a downtrend continuation. MACD Indicator: The MACD and signal lines maintain a falling trend below the zero line after sabotaging a bullish crossover reflecting a solid underlying bearishness. The MACD histograms support a bearish trend reflecting a high downtrend possibility. RSI Indi...