MANA Price Prediction: Oversold RSI Hints A Bounce Back Towards $2.50
MANA price shows a range-bound movement after falling over the last week that pushes it to the recent support level. Now, a bounce-back is expected as the same levels were last seen three months back.
- MANA price trades lower but hovers near the crucial support zone.
- A daily candlestick above $2.20 will produce more gains.
- Further, an acceptance above $2.30 paves the wave for $3.0.
MANA price set for a reversal
On the daily chart, the MANA price retraced toward $2.04, the level last seen in January. This makes reliable support from where the price looks for an immediate bounce back. The formation of two consecutive ‘Doji’ candlesticks makes the bulls hopeful for a quick recovery in the price. The first upside hurdle is found at the horizontal resistance level of $2.35
An extended buying could meet the next upside target near 200-day EMA (Exponential Moving Average) at $2.52. Furthermore, an acceptance above the mentioned level would clear the way to recapture the psychological $3.0 level.
While things look positive for the MANA price. However, a shift in the bullish sentiment could turn on the selling mode in the token. In that scenario, a break below 2.0 would trigger a fresh round of selling to the lows last seen in late January at $1.80.
As of writing, MANA/USD reads at $2.17, up 0.74% for the day.
Technical indicators:
MACD: The moving average convergence divergence hovers below the midline with receding bearish sentiment.
RSI: The daily relative strength index oscillates near the oversold zone. Any uptick in the indicator would support the bullish outlook on the price.
Trading volume: The 24-hour trading volume of the cryptocurrency holds at $227,178,548 with a loss of 29%.
- Fed’s Schmid Signals Opposition to Further Rate Cuts With Inflation ‘Too High’
- IBIT Bitcoin ETF Becomes BlackRock’s Most Profitable Fund, Nears $100B Milestone
- Bitcoin Tops $126,000 as Market Prices In Three-Week U.S. Government Shutdown
- Paul Tudor Jones Predicts Explosive Bull Market Amid Bitcoin’s ‘Uptober’ Rally
- Robinhood Outage Reported by Users, HOOD Stock Drops
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
- Ethereum’s Price Bullish Cycle Resumes as Grayscale Launches Spot Staking ETPs – Is $7,331 Next?
- Pi Network Price Risky Pattern Points to Crash as 14M Coins Leave OKX
- Bitcoin Price Prediction as Exchange Reserves Hit 6-Year Low—Is $150K Within Reach?
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
