Expected Levels in MANA and SAND!

Decentraland (MANA) price is up 265% in one week, is it a good time to enter MANA? Metaverse crypto projects have seen astronomical gains following the Facebook news, with MANA recording a 265% gain after last week’s closing price. MANA, AXS, and SAND have become native tokens from top Metaverse crypto projects that have seen a huge spike in prices after last week’s closing price. Facebook CEO Mark Zuckerberg confirmed the rebranding move at the Connect 2021 keynote, before moving to a simulated virtual reality. Details cryptocoin.com‘in.

Huge increase in MANA and SAND

MANAUSDT has a strong bullish sentiment as the relative strength index shows higher values ​​above the 25th level on the weekly and daily timeframes. Let’s examine the MANAUSDT price chart and see if the current price increase will continue.

Last week, the MANA token jumped 265% from open to close after the RSI indicator failed to print lower below level-25 and the bulls found their way above the bearish resistance on August 23 ’21. As the RSI climbs above 75 for the second time, MANAUSDT is back in an uptrend and traders are now waiting for a price correction for a chance to scale to the uptrend. Let’s look at the daily time frame for tips on entry levels.

The daily time frame is in an even uptrend as the RSI prints higher readings above level-75 without falling below level-25. Attempts by the bears in the form of regular and hidden bearish divergence failed to break any resistance for a nearly 400% gain on Oct 28 ’21. However, the entry level should be in the 4HR timeframe, where we expect the RSI to print lower numbers below the 25th level.

Ok, now we can see that the 4HR timeframe is our trade entry timeframe for the MANA token and it marks price dips as the RSI moves below the 25th level on Oct 24 at 12:00 and Oct 27 at 20:00. If we see RSI readings below level-25 on the 4HR timeframe, the next entry point to the uptrend will be marked.

SAND price analysis

Facebook’s recent rebranding as META coincides with the “the metaverse” movement, resulting in a spike in prices for metadata warehouse-related crypto projects such as SAND, AXS, and MANA. The social media giant is shifting its long-term focus from messaging and social media to immersive 3D virtual environments. Let’s analyze the SANDUSDT price chart for key chart patterns, trends, support and resistance levels.

The SAND token registered an all-time high in the fourth quarter of 2021 following a hidden bullish divergence pattern on the weekly chart above. SANDUSDT’s weekly timeframe continues its bullish momentum as the relative strength index posts higher readings above level-75 and level-25. We are waiting for prices to pull back, but we will need to dive into the lower daily and 4HR timeframes to see if we can break into the oversold levels.

The daily time also shows a bullish trend for SANDUSDT as the RSI records higher numbers above the 25th level. A sudden price close above the October 26’21 resistance confirmed the decision to take a long position and an upward price increase. Meanwhile, we are still waiting for a price correction and we will need to move to the lower 4HR timeframe for hints of a price drop. The 4HR intraday time frame reveals entry price levels where the RSI fell below 25 on Oct 17 at 8:00 PM and Oct 27 at 08:00 AM.

A series of hidden bullish divergence setups, most recently on Oct 31 at 16:00, suggest that the SAND token may have found a price floor at 1.4422 and is poised to resume its uptrend towards the $2,450 resistance. However, the 1HR time frame indicates a normal bullish divergence after breaking out of the oversold area. However, we expect the uptrend to continue from intraday timeframes.

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