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The bulls will again attempt to push the MANA/USDT pair to the downtrend line


21 Feb 2022

#Decentraland

Decentraland (MANA) turned down from the downtrend line on Feb. 16, indicating that the sentiment remains bearish and traders are selling on rallies to stiff resistance levels.The bears have pulled the price below the 50-day SMA ($2.83), which opens the door for a possible downside to the strong support zone between $2.44 and the 200-day SMA ($2.20). If the price rebounds off this zone, the bulls will again attempt to push the MANA/USDT pair to the downtrend line. The bulls will have to clear this hurdle to indicate the start of a new up-move.

Conversely, if bears sink and sustain the price below the 200-day SMA, the selling could intensify and the pair could slide further to $1.70. The bears have pulled the price below the 200-SMA. If the price sustains below this level, the pair could drop to the support line of the descending channel. A break and close below the channel could sink the pair to $2.44.

If the price turns up from the current level, the bulls will try to push the pair above the 200-SMA. Such a move will be the first sign that bulls are attempting a comeback. A break and close above the 20-EMA will increase the possibility of a rally to the resistance line of the channel.


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