MANA Technical Analysis: Buyers Finally Break The Formidable Trendline

MANA coin price shows a bullish recovery surpassing the long-coming trendline. Will this breakout shape a new upside trend? Key technical points: MANA prices gained 25% in the last ten days. Next, the meta token price surpasses the 100-day EMA. Finally, the 24-hour trading volume of Decentraland is $544 Million, marking a 13% rise. Past Performance of MANA MANA coin price action shows a long coming resistance trendline in the daily chart that has crushed multiple bullish recoveries. However, the recent reversal from the $2 mark accounts for a 25% price jump and tests the confluence of the resistance trendline and the $2.81 horizontal level. Source-Tradingview MANA Technical Analysis MANA prices show a symmetrical triangle pattern in the daily chart with the uptrend testing confluence of resistance trendline and $2.81 level. However, the long-wick formation warns of a bearish reversal. The crucial daily EMAs (50, 100, and 200-days) strive to regain the bullish alignment with the 50 and 100-day EMA crossover. Meanwhile, the 200-day EMA stands strong at $2.45 and continues the sideways trend. RSI Indicator: The RSI slope crosses above the halfway mark and shows a bullish continuation above the 14-day SMA. Hence, the indicator reflects a solid underlying bullishness. MACD Indicator: The MACD and signal lines significantly spread as they surpass the zero value mark. Moreover, the rising trend in bullish histograms highlights a soli...