MANA Technical Analysis: MANA Buyers Shatter $1 Ceiling

MANA price experiences a boom in buying pressure as the recovery rally in the altcoins starts with a similar bullish reversal pattern. Key technical points: The MANA prices grow by 40% overnight. The K and D lines represent a bullish crossover. The 24-hour trading volume of Decentraland is $914 Million, indicating a 17% hike. Past Performance of MANA With the MANA prices gaining new attention near the $0.67 mark resulting in a bullish reversal after a long-coming downtrend. The downtrend started at the $2.85 mark after failing to surpass the psychological mark of $3, resulting in a falling expanding channel and accounting for a 75% fall last month. However, the recent surge brings down the deflation rate close to 50% with a morning star pattern. Source-Tradingview MANA Technical Analysis MANA price action shows a boom in trading volume, supporting the bullish engulfing candlesticks that shatter the $1 resistance. Hence, buyers managing a closing above the psychological mark will increase the possibility of a bull run to $1.50. A bearish bias of vital daily SMAs has been trending downwards as the market price rises higher to challenge the 20-day SMA. Thus, a power fight is likely to occur soon to determine the future trend of Decentraland’s native token. The RSI slope leaves the oversold zone by reversing sharply, forming an elongated bottom, and even overtaking the average line of 14 days. The Stochastic RSI displays a bullish...