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MANA Price Surges High With the Rumours of a Trust Filing With Grayscale

Highlights

    Mana price jumps with a spike of more than 235% in the trading volume

    The rounds of Grayscale filing a MANA trust including other trusts may be one of the reasons behind the jump.

    With the MANA trust, the NFT space is expected to get a major boost.

Grayscale Eye’s MANA, Will the Price Pump?

Grayscale Trust, a popular hedge fund which holds the highest share of Bitcoin and many other altcoin trusts, might be considering adding up other assets. According to the official website of the State of Delaware, which displays the information on a Delaware entity. 

The list with the entity name ‘Grayscale’ included the MANA trust with the other assets LINK trust, BAT trust, FIL trust, and XTZ trust. It is speculated as to Grayscale is considering adding more assets as per the analyst WolfofCrypto.

However, the lists include the search results of both active and inactive entities in their database, not indicating the current status of an entity. Therefore till any official announcement is provided by the hedge fund, it is very hard to predict.

Also Read: Bitcoin Price May Slip to Much Lower Levels, Will It Ever Bounces Back to Hit $100k?

MANA Price Analysis, Will it hit $1?

Huge selling pressure mounted on MANA price in the early trading hours, and hence a drastic plunge was expected in the later hours of trading. But there was a complete flip when a large influx of volume was injected which rallied the price nearly 60% from the lowest levels.

The MANA price just broke the strong resistance levels at $0.126 and surged further to hit the present levels at $0.1491 at the time of writing. The price, however, appears to be poised to hit the upper resistance levels initially at $0.16 and later the levels close to $0.2.

Technical Indicators

  • The resistance levels are formed at $0.1629
  • The support levels are formed at $0.1308
  • The market sentiments are pretty bullish and hence the technical indicators for MANA price point out towards a ‘strong buy’

Also Read: Ex-Ripple Advisor to Be New OCC Chief, Will This Fuel XRP Price?

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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