MANA Technical Analysis 2023
Key Insights
- MANA has declined to 96% from its high and stayed in a bearish trend.
- After a brief 200% price surge in January, MANA again dropped to new lows below $0.2788. The asset appears to still be in a downtrend.
- If MANA can break above the key POC, it may start to reverse the downtrend. Potential upside targets are at $0.6619 and $1.1306.
As of writing, MANA is ranked 61st on CoinMarketCap with a market cap of $555,933,389.
MANA Daily Timeframe
The price of the asset continues to decline since the beginning of the bearish trend, having already lost 96% of its value.
Starting from January 2023, after reaching a minimum price of $0.2900, the asset showed an impulsive rise to the level of $0.8442, resulting in a gain of over 200%. This was followed by a prolonged correction, and the price of the asset again dropped to a minimum of $0.2788.
It is worth noting that there is currently a minor consolidation, but it is still too early to conclude a slowdown in the decline of the asset's value.
At the moment, the asset is trading at a very low level, and there is a possibility that it will continue to decline due to stop-loss orders being triggered during consolidation.
MANA Price Prediction
However, if the asset manages to turn upward and successfully surpass the Point of Control price level at $0.3903, further growth of the asset can be expected. The next target will be the level of $0.6619, supported by horizontal volume.
It is highly likely that the price will be able to surpass this level and move towards the $1.1306 mark.
Users can get MANA for fiat or crypto on SimpleSwap.
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