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Decentraland (MANA) price is showing bullish signs in the weekly time frame, but the daily chart suggests more downside is likely prior to a reversal.
Meanwhile, The Sandbox (SAND) price has a bearish outlook in both long- and short-term time frames. It broke down from a horizontal support area and is at risk of decreasing below its yearly lows. This could greatly accelerate the rate of decrease.
MANA price breaks down below 17-month support
MANA price has been decreasing inside a descending parallel channel since reaching an all-time high price of $5.91 in May 2021. The downward movement so far has led to a low of $0.62 in May 2022.
Initially, it seemed that the downward movement caused a breakdown from the support line of the channel. However, MANA price reversed trend shortly afterward and created a very long lower wick in the process (green icon).
Since such channels usually contain corrective movements, an eventual breakout from it would be the most likely scen
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