In less than a week, the MANA coin price chart shows a 20% downfall resulting in the fallout of the crucial $3 mark. Moreover, the increased trend momentum and the increasing number of bearish signals indicate a rising possibility of a downtrend. Is this the time to sell? 
<h2>Key technical points:</h2>
<ul>
 	<li style="font-weight: 400">The selling pressure breaks the 50 and 100-day EMA</li>
 	<li style="font-weight: 400">The MACD indicator gives a bearish crossover</li>
 	<li style="font-weight: 400">The 24-hour trading volume in the Decentraland token is $558 Million, indicating a 15% rise. </li>
</ul>
<h2>Past Performance of MANA</h2>
<a href="https://www.cryptoknowmics.com/news/mana-technical-analysis-reversal-brings-the-best-retest-entry-chance/">MANA</a> coin price trades at $2.76 with a downfall of 4.46% in the past 24 hours resulting in the fallout of $2.80 horizontal level. Moreover, the downfall breaks the 50 and 100-day EMAs. 

In the past week, the downfall accounts for more than 20% resulting in multiple bearish engulfing candles in the daily chart. This sudden fall indicates a sharp rise in trend momentum.  

<img src="https://s3.tradingview.com/snapshots/i/iMMUBT0m.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/iMMUBT0m/">Tradingview</a>
<h2>MANA Technical Analysis </h2>
The rejection from the $3.5 resistance zone pushes the MANA prices lower resulting in the fallout of $3. Hence, the 20% downfall last week creates havoc in the minds of investors.

The fallout of 50 and 100-day EMAs drive the prices lower to the 200-day EMA. Moreover, the falling trend in the 50 and 100-day EMA might shortly give a bearish crossover. 

The MACD indicator shows the fast and slow lines struggling to sustain above zero line mark as it gives a bearish crossover. Hence, the indicator suggests a bearish continuation.

The Accumulation/Distribution Indicator shows a slight fall in the slope as the MANA prices show a correction phase. Hence, the direct correlation in the coin price and the slope indicates a likely continuation of downtrend.

Hence, the technical indicators showcase a high possibility of a downtrend to the $2.40 mark. 
<h2>Upcoming Trend</h2>
In the MANA/USD chart, the downfall continues as the prices break below the $2.80 horizontal level. Moreover, the technical indicators showcase the likely continuation in the correction phase. Hence, traders can shortly find a selling opportunity as the candle closes below the $2.80 mark.

Support Levels:$2.40 and $2.20

Resistance Levels: $2.80 and $3

MANA Technical Analysis: 20% Downfall Wipes Out Bullish Sentiments

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

MANA Technical Analysis: 20% Downfall Wipes Out Bullish Sentiments

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