News for: Arbitrum, MANA, Crypto.com (CRO)

News in the crypto market and the prices of Decentraland (MANA), Arbitrum (ARB) and Crypto.com (CRO).

Read all the latest news featuring them in what follows.

The analysis of Decentraland (MANA), Arbitrum (ARB) and Crypto.com (CRO)

We recall that Decentraland (MANA) is a blockchain and metaverse platform that allows users to buy virtual land and participate in a virtual community, creating a unique experience.

Arbitrum, on the other hand, is a layer 2 solution that makes the Ethereum blockchain scalable, eliminating slow transaction issues and lowering costs in gas fees. It is important to note that a layer 2 chain exists only on top of its own layer 1, otherwise it would be meaningless.

Finally, Crypto.com (CRO) was founded as a cryptocurrency exchange in 2016, but in a short time it has expanded the financial product proposition offered to investors to be present throughout the ecosystem.

Focus on the price of Decentraland (MANA): will it outperform Arbitrum (ARB) and Crypto.com (CRO)?

MANA‘s price has declined within a parallel descending channel since 2 February. Such channels usually contain corrective movements, which means that a bullish breakout could be expected.

In any case, on 1 April, the price of the MANA token broke out of the channel. Precisely, it exited at an RSI breakout from its bearish divergence trendline. However, the price failed to break above the $0.61 resistance area, a necessary factor for the trend to be considered bullish.

Although the daily RSI did not break above 50, the completed ABC correction within the channel suggests that a breakout from the $0.61 area is more likely than a rejection. In that case, the MANA price could rise to $0.82.

However, if a rejection occurs instead, a decline to $0.50 support could follow. In conclusion, MANA’s price trend is bullish and is expected to rise in April.

But be careful, because a rejection from the nearest resistance areas could invalidate this bullish forecast and trigger a sharp decline. All that remains is to watch to see what happens next.

What is the key level to watch for Arbitrum (ARB)?

A few weeks ago, the price of ARB, rose more than 200%, soon after the price was launched to the market. Since then, it has maintained a strong threshold above the $1.1 level.

After that, the token bounced off support again and appeared ready to start a major rally due to a retest of the descending trend line. However, the price still seems to be flattening.

In any case, a bearish formation appears to have been forming on the 4-hour chart for a few days now, so price could go lower if ARB follows the pattern.

Predicting the next direction of the actual price seems risky in the higher time frame due to insufficient trading history.

A surge in volatility would provide at least a 30% profit/loss if the price rises or falls. Which is currently down 2.5% with no major bullish signals.

The bears could eventually gain control if the price were to take a nosedive. Hence, the current sentiment for Arbitrum is relatively indecisive. However, a few hours ago, the price rebounded from the threshold level to where it currently changes hands at $1.2.

Thus, it may encounter resistance around $1.26 and $1.288, marked as current and past weekly highs. However, should the price fall, the next buying target would be $1.425 and $1.57 before overcoming the uptrend.

In summary, the key support area to watch for a breakout is $1.154 and $1.11. Additional support levels to keep in mind for selling pressure are $1 and $0.9.

The partnership between R3V3NGE and Crypto.com (CRO) to release Shotgun NFT

R3V3NGE, an NFT game, and Crypto.com (CRO) have partnered to make the exclusive Shotgun NFT available to the community. Shotgun NFT is expected to be released later today at a price of $99.

On top of that, some other items that could be released are in-game avatars. The exclusive Shotgun NFT will be an important addition to the roster for R3V3NGE players.

Specifically, it is a game in which users must shoot zombies to survive in different challenge modes, such as Battle Royale. R3V3NGE is currently in open beta, with most positive responses to its name.

R3V3NGE, on the other hand, is an NFT game in which players earn rewards by destroying zombies with a weapon. Crypto.com (CRO) has over 50 million users and, as we know, suffered a slight decline in November 2022 after FTX reported its collapse in the market.

The cryptocurrency exchange platform will host the exclusive NFT for R3V3NGE. Holders who get their hands on the exclusive NFT will earn three votes in PolyLand DAO.

They will also have significant influence in deciding how the next game will be launched once R3V3NGE is concluded. Hence, the partnership between Crypto.com and R3V3NGE was established to ensure that players get the exclusive NFT for a better gaming experience.