Cosmos, MANA, SAND Price Analysis: 19 April
After a marginal 24-hour surge in the crypto fear and greed index, the global market cap registered an over 4.5% improvement over the last day.
As a result, Cosmos, MANA, and SAND’s near-term technicals displayed heightened buying influence but still flashed neutrality from an objective standpoint. The recent gains need to be backed by ramping up the volumes for the buyers to sustain their edge.
Cosmos (ATOM)
Source: TradingView, ATOM/USDT
Since tumbling from the $43-resistance, the alt consistently dropped its peaks in the last three months. The recent sell-off phase led ATOM to lose nearly a third of its value from 3 April until it matched its seven-week low on 18 April.
Meanwhile, bulls stepped in to defend the $22-mark as ATOM finally witnessed a patterned breakout in the 4-hour timeframe. As a result, buyers flipped the 20 EMA (red) from resistance to support.
At press time, ATOM was trading at $23.91. The RSI saw a rapid jump after bouncing back from the oversold mark in the last 24 hours. A sustained close above the midline would position the alt for a test of the 50 EMA (cyan).
Decentraland (MANA)
Source: TradingView, MANA/USDT
After dropping from its November highs and poking its multi-month low in late January, the $3.3-level shunned all bullish recovery attempts. Despite this, the bulls have ensured higher troughs but failed to uphold the three-month-long trendline support (now resistance) (white, dashed).
Over the last ten days, MANA descended in a falling wedge (white) on its 4-chart. The price is now approaching a squeeze phase after a steep 24-hour surge. To propel a trend-altering rally in favor of bulls, a close above the $2.09-mark would be imperative.
At press time, MANA was trading at $2.08, up by 5.52% in
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