MANA Technical Analysis: Price Within Falling Wedge Traps Bullish Momentum, Is It a Buy or Sell?

MANA coin price coils up within a falling wedge pattern in the daily chart, increasing the chances of a breakout. Is it a time to hold or sell? Decentraland defines itself as a computer game platform hopped-up by the Ethereum blockchain that enables users to create, experience, and legitimate content and applications. Decentraland uses 2 tokens: MANA, an ERC-20 token that has got to be burned to amass non-fungible ERC-721 LAND tokens. These tokens may want to get hold of a spread of avatars, wearables, names, and a lot more on the Decentraland marketplace. Let us move ahead to read about Decentraland technical analysis. Past Performance of MANA The MANA coin price action coils up within a falling wedge pattern in the daily chart. The price action shows a downfall of 40% from the inception of the pattern. Moreover, the dynamic resistance of the 50-day Exponential Moving Average keeps the bullish growth in check. MANA/USD Daily Chart MANA Technical Analysis The MANA coin price action is close to giving a breakout of the wedge pattern in the daily chart. Therefore, traders can shortly find a breakout entry opportunity. Crucial EMAs (50, 100, and 200) move sideways in the daily chart with a bullish alignment. However, the price resonates within the 50 and 100-day EMAs resulting in a consolidation range. Therefore, the breakout of either EMAs will generate an entry signal. The MANA price action suggests upcoming high supply areas a...