After a very short-lived rally, the crypto space is yet again plunging hard as the weekend approaches fast. The DeFi and the NFT space are also following the traditional cryptos and plunging very hard.
Decentraland(MANA)
The rally in the recent past have weakened the rally to a large extent as the calculations and the strategies all are going in vain. Moreover, the fresh dump in the past 24 hours has fueled the rally towards the south. Interestingly, after dropping by more than 11%, the MANA price instead of attempting a quick rebound is consolidating hard at these levels. And hence displaying the possibilities of surging high or plunging down.
The consolidation after a drastic plunge has formed a notable bearish flag for the asset. And hence the MANA price may experience yet another dip in the upcoming hours. However, the support levels are comparatively near and hence the asset may test the immediate support at $2.8 and if it fails to sustain the next levels at just below $2.72. Here a massive rebound may be recorded as it is one of the high demand areas where-in a notable number of buyers may jump in.
Also Read: Cardano Approaching Danger Zone, ADA Price May Slip Below $0.795 This Time!
The SandBox(SAND)
The Sandbox is attempting very hard to recover quickly without wasting much time. Therefore it rebounded finely following a ‘v-shape’ recovery to some extent. But woefully the consolidation is been challenged constantly which is strongly taken care of by the bulls. Currently consolidating hard within some ranges, the SAND price is manifesting a huge possibility of a breakout beyond the upper resistance at $4.46.
The bulls and the bears are in the middle of a tough fight currently, where-in the bears appear to be a little strong at the moment. And hence a fair chance of a deep plunge is quite possible that may probably drag the price too as low as $3.9. Here’s when the SAND price may find strong support and attempt to rebound with strong momentum. However, the asset could also flip before hitting these levels as the buyers could jump in at any moment to lower the plunging pace.
Source: https://coinpedia.org/price-analysis/whats-awaited-for-decentraland-and-sandbox-price-this-weekend/