MANA coin price action escaped the sideways rally with a breakdown from a symmetrical triangle pattern. Can sellers continue their march to $2 support?

Key technical points:
<ul>
 	<li>The MANA price gave fallout from the symmetrical triangle pattern</li>
 	<li>The Stochastic RSI displays a bearish crossover</li>
 	<li>The 24-hour trading volume in the Decentraland token is $508.7 Million, indicating a 6.7% gain. </li>
</ul>
<h2>Past Performance of MANA</h2>
Over the past two months, the MANA price resonated in a symmetrical triangle pattern. On March 1st, the buyers failed to continue their bull cycle and turned down the share resistance of $5.25 and 50-day DMA. The follow-up downfall gave a bearish breakdown from the price pattern, accelerating the ongoing selling. 

<img src="https://s3.tradingview.com/snapshots/4/4z3zA3Fz.png" alt="TradingView Chart" />

Source-<a class="editor-rtfLink" href="https://www.tradingview.com/x/4z3zA3Fz/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>MANA Technical Analysis </h2>
The MANA/USD daily chart shows three consecutive red candles, registering a 12.5% fall. The breakout candle has reached $4.5, and a 200-day EMA combined support. Hence, the altcoin is expected to revert from this support and retest the breached trendline. 

The flattish 50-and–200-day EMA accentuates the sideways price action. The altcoin price is sandwiched between these EMAs, where a breakout from either of these levels would bolster the next rally. 

The Stochastic RSI indicator shows the K and D line nosedive below the neutral line following a bearish crossover. Hence, the end of the bull cycle increases the chances of a $2.45 breakout.

The MACD indicator shows the fast and slow lines are gradually lower in the bearish territory. Moreover, the MACD histograms remain bearish indicating a sustained selling momentum. 

In a nutshell, MANA technical analysis shares a negative bias suggesting a possible decline to the $2 mark.
<h2>Upcoming Trend</h2>
If <a href="https://www.cryptoknowmics.com/news/mana-technical-analysis-bulls-remain-trapped-within-triangle/">MANA</a> bears sustain this restest phase below the breached ascending trendline, the selling pressure would intensify and plunge the altcoin to $2

Conversely, if bulls wrest control from the bears during the restest phase, the coin price would rally higher and reenter the triangle pattern. However, the sellers could maintain a stiff resistance at the confluence of $2.85 and 50 EMAs, interrupting further gains. 

Support Levels: $2.5 and $2

Resistance Levels: $2.85 and $2

MANA Technical Analysis: Will MANA price sink to $2 support? 

MANA coin price action escaped the sideways rally with a breakdown from a symmetrical triangle pattern. Can sellers continue their march to $2 support?

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: Will MANA price sink to $2 support?

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