MANA stuck in a pronounced downtrend but can buyers show strength to recover - Aliens: AI Crypto News & Markets Updates
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MANA stuck in a pronounced downtrend but can buyers show strength to recover

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AMB Crypto

Fri, Jan 14, 2022

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Aliens TLDR

Decentraland has trended downward on the daily chart since its surge to $5.2 in late November, a time period of six weeks.

However, in the month of January, the price has closed beneath the $3.1 level multiple times and tested it as a level of resistance a couple of days prior to press time.

The $2.43 level was the next significant support level, with the $2.2 area (cyan) being an area where demand could step in.

This bullish divergence saw the price bounce and retest the former support level as resistance.

The trendline resistance was unbroken and sellers were driving the prices lower in search of significant liquidity.

This meant that Decentraland was likely to see a quick move to the next significant level of support

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