<em><strong>The increasing demand for the altcoins with the market recovery increases the MANA market price, soon to reach the psychological mark of $1.</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The MANA prices jumped by 4.38% in the last 24 hours.</li>
 	<li>As a result, the bull cycle breaks above the descending triangle pattern in the daily chart.</li>
 	<li>The 24-hour trading volume of Decentraland is $398 Million, indicating a rise of 143%.</li>
</ul>
<h3>Past Performance of MANA</h3>
MANA price chart shows the market value surpassing the resistance trendline and the 50-day SMA displaying a breakout entry opportunity. The trendline had kept the prices under a downtrend for months accounting for a dip to $0.76. Moreover, the recovering market conditions increase the demand for <a href="https://www.cryptoknowmics.com/news/here-are-the-top-5-altcoins-of-the-week/" target="_blank" rel="noopener">altcoins</a>, evidenced by the increased trading volumes.

<img src="https://s3.tradingview.com/snapshots/r/rkgumyep.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/rkgumyep/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>MANA Technical Analysis</h2>
The trendline breakout ends the two-month-long correction phase in MANA prices. This increases the likelihood of a price jump to the 100-day SMA at $1.20. Hence, traders can expect the rally to exceed the psychological mark of $1.

The increased buying pressure influences the MACD and signal lines to regain the positive alignment and propels the RSI slope into the nearly overbought zone. Hence, the momentum indicators forecast a potential uptrend continuation.

Additionally, the market price sustains above the 50-day SMA (red) in the daily chart teasing an upside rally from the resistance trendline.

In a nutshell, MANA technical analysis signals a high likelihood of a breakout rally exceeding the psychological mark of $1.
<h2>Upcoming Trend</h2>
The resistance level for the upcoming positive trend for MANA prices is at the psychological mark of $1, the 100-day SMA at $1.20, and $1.50. Hence, the forthcoming trend positive trend has the potential to reach the $150 mark. Conversely, the broken trendline will act as a retest level, and the $0.67 support level will serve as the base level.

Resistance Levels: $1 and $1.20

Support Levels: $0.80 and $0.67

MANA Technical Analysis: Trendline Breakout Rally Soon To Reach $1.50

According to this technical analysis, the increasing demand for altcoins with the market recovery increases the MANA market price.

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: Trendline Breakout Rally Soon To Reach $1.50

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