MANA Price Analysis: Can Trendline Breakout Free MANA From Ongoing Consolidation

MANA vs SAND e1652535299531

Published 32 mins ago

On July 13th, the Decentraland (MANA) price showcased its third reversal from the $0.76 support. The resulting run-up registered a 23.5% pump and breached the intermittent resistance of the descending trendline and the $0.94 level. Sustaining this breakout, the altcoin could reclaim the $1.13 mark.


Key points:

  • The long-tail rejection candle monthly chart shows a high demand zone near $0.76 to $0.63 support 
  • The descending triangle breakout should drive the MANA price to $1.34
  • A breakdown from $0.93 support would invalidate the bullish thesis



While the crypto market grappled with uncertainty over the past two months, the MANA price action shaped into a descending triangle pattern. Such a bearish pattern usually encourages the continuation of the prevailing downtrend, with the breakdown of neckline support($0.76).

However, with the crypto market witnessing improvement in market sentiment since last week, the MANA price gave a bullish breakout from the pattern’s resistance trendline. Furthermore, with increasing volume, the altcoin jumped $6.3% today, currently trading at the $0.97 mark.

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Meanwhile, the recovery has pierced a resistance zone of $0.94-$0.93, offering a higher footing for buyers to continue this rally. This robust rally will likely provoke a retirement to stabilize the buying pressure.

The expected pullback may retest the $0.93 flipped support to bolster the further rally. The potential rally should soar the MANA price 15.5% higher to hit $1.13.

Anyhow, as per the technical setup, the triangle pattern should lead the recovery rally to the $1.34 mark.

Conversely, if buyers fail to sustain above the $0.93 mark, the sellers may sink the MANA price back to $0.76 and continue the prevailing consolidation.

Technical indicator

MACD Indicator: the fast and slow showcased a constant rally despite the falling price action, indicating growth in underlying bullishness. Moreover, the indicator shows a sharp spread between these lines accentuating a fast recovery rally.


ADX Indicator: A significant drop in ADX slope projected a loss of bearish momentum, which increases the buyers’ chances of maintaining a stable rally.

  • Resistance level: $1.13 , $1.34
  • Support level: $0.94-$0.93, $0.76

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From the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at)


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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