MANA coin price action escaped the sideways rally with a breakdown from a symmetrical triangle pattern. Can sellers continue their march to $2 support? Key technical points: The MANA price gave fallout from the symmetrical triangle pattern The Stochastic RSI displays a bearish crossover The 24-hour trading volume in the Decentraland token is $508.7 Million, indicating a 6.7% gain. Past Performance of MANA Over the past two months, the MANA price resonated in a symmetrical triangle pattern. On March 1st, the buyers failed to continue their bull cycle and turned down the share resistance of $5.25 and 50-day DMA. The follow-up downfall gave a bearish breakdown from the price pattern, accelerating the ongoing selling. Source-Tradingview MANA Technical Analysis The MANA/USD daily chart shows three consecutive red candles, registering a 12.5% fall. The breakout candle has reached $4.5, and a 200-day EMA combined support. Hence, the altcoin is expected to revert from this support and retest the breached trendline. The flattish 50-and–200-day EMA accentuates the sideways price action. The altcoin price is sandwiched between these EMAs, where a breakout from either of these levels would bolster the next rally. The Stochastic RSI indicator shows the K and D line nosedive below the neutral line following a bearish crossover. Hence, the end of the bull cycle increases the chances of a $2.45 breakout. The MACD indicator shows the fast and ...
