MANA Technical Analysis: Will Sellers Retake $2 Mark?

MANA coin price succumbs under the selling observed in the broader marker resulting in the symmetrical triangle fallout. Will the bearish fallout crack the $2 mark? Key technical points: MANA prices have decreased by 4.60% in the past 24 hours. In addition, the price falls below the 200-day EMA. Finally, the 24-hour trading volume of Decentraland is $505.58 Million, marking a 15% rise. Past Performance of MANA MANA coin price action formed a symmetrical triangle pattern under the influence of the long-coming resistance trendline and the short support trendline. The trapped momentum within the triangle resulted in a sideways trend for the crucial EMAs. However, yesterday’s fall in the crypto market influenced a bearish outgrowth in the meta coin resulting in the triangle fallout. Source-Tradingview MANA Technical Analysis MANA coin price action fell by 15% in the last week resulting in a support trendline fallout with a bearish engulfing candle of 9.04%. However, the new daily candle retests the breakout with increased bullish momentum. Therefore, the chances of price jumping back within the triangle increases. The sideways trend of the crucial daily EMAs gets a bearish hit as the prices fall under $2.45. Hence, the chances of 50 and 100-day EMA get replaced by the threat of a death cross. RSI Indicator: The RSI slope showcased sustenance above the halfway mark with the support of the 14-day average. However, the sudden bearish...