Short Term Bearish Trend for MANA Likely Following EMA Break Away -Breaking
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MANA Short Term Bearish Trend Likely following EMA Breakaway- MANA, Decentraland’s native cryptocurrency token, is down in the last 24 hours.
- In the past 24 hours, the metaverse token has fallen by 2.13% and 14.29% over the previous 7 days.
- MANA is now in a bearish period as the 15 EMA fell below the 50 EMA, forming a Death Cross.
MANA, Decentraland’s native cryptocurrency token, is down in the last 24 hours according to CoinMarketCap.
In the past 24 hours, the metaverse token has fallen by 2.13% and 14.29% over the previous 7 days. MANA’s current price is $1.78. MANA currently ranks 38th on the market capital scale, with its market total of $3,285,418,897.
When looking at the strength of MANA’s price compared to the market leaders (ETH) and (BTC), its price has weakened by 2.67% and 3.54% respectively. One MANA currently has a value of 0.000045 BTC or 0.0006083 ETC.
MANA also saw a double-digit increase in daily trading volumes (17+%) over the 24 hour period, bringing the daily trading volume up to $237.842,175.
MANA will continue to be a short-term bearish trend. Source: TradingView
We can see that the Daily Chart for demonstrates that we are entering a Bearish Phase. The 15 EMA dropped below the 50 EMA in order to create the traditional bearish indicator Death Cross.
A shift in trend has taken place on MANA’s daily chart as previous Death Cross occurrences were usually accompanied by a degree of uncertainty as there was no clear break away between the two exponential moving averages.
The 15 EMA seems to be starting to separate from the 50 EMA. It is a sign that we may be entering into a short-term bearish market. What’s more, the RSI 14 shows that MANA is heavily oversold. We could see the coin drop even more if it continues to be oversold.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. This article is not intended to be used as investment advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.
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