Technical Analysis: Binance Coin (BNB), Decentraland (MANA) and The Sandbox (SAND) Price Predictions!
Today, a relatively positive mood was blowing in the markets due to BTC’s taproot update. As the weekly close approaches, the activity continues in the most popular cryptocurrencies. What are the current support levels for Binance Coin ( BNB ), Decentraland ( MANA ) and The Sandbox ( SAND )? We examine short and medium-term price targets.
Binance Coin (BNB)
Since September 24, BNB has risen between two parallel lines for about five weeks. The price broke the upper channel on November 7 after a 39-day 65% rally. The nearly 7-week journey yielded a total gain of over 89%. Throughout the week, the bears have consistently opposed the rally with resistance at $648. However, the bulls found strength as the price traded above the 4-hours 20-50-200 SMA at $645.7.
The RSI has steadily climbed above the middle line over the past two days and has decided in favor of the bulls. Also, a bullish divergence has occurred between the RSI and price action. Accordingly, the bulls can take action to break the resistance. Also, the MACD is bullish.
At the time of writing, the price is trying to hold above $648. If Bitcoin can stay strong, this will be reflected in the price of Binance Coin (BNB) .
Reaching the ATH point at the end of October, the MANA retreated somewhat. The decline, which continued until the bulls returned, stopped at 45% on November 11. This reversal resulted in a descending wedge breakout as the price hit $3.8 on Nov. 13. In the past day, MANA has seen a 11.83% drop as short-term technical indicators point to increasing bearish influence.
At the time of writing, Decentraland (MANA) continues to find buyers at $ 3.2. The RSI is down 20 points above the overbought zone. MACD and other momentum values look weak, losses may continue for a while.
The Sandbox (SAND)
Facebook’s rebranding as Meta has also impacted the price of The Sandbox (SAND). Reaching the ATH point on November 3, SAND has risen close to 350%. SAND price, which has lost close to 8% in the last 24 hours, has retreated to $ 2.8.
The RSI has dropped 18 points on the last day but remains above the midline. Also, the MACD shows a possible bearish bias though favoring buyers. Additionally, the probability of a bearish increases as AO approaches the zero line. $2.55 will be critical if the downside continues. Supports 2.33 and 2.16, respectively, can be visited.