Price Analysis

Altcoins Like Solana(SOL) & Decentraland(MANA) Could SkyRocket During the Mid-Week

Written by: Sahana Vibhute

Written by right arrow

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Aug 1, 2022

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Article Highlights
  • Solana price after the recent upward push is displaying notable bullish momentum and strongly heading towards its initial target

  • On the other hand, Decentraland price marked a bullish monthly close and hence the possibilities of a notable upswing emerges

As the Bitcoin price is sustaining above $23,000, the altcoins gain notable bullish momentum and rise high. On the other hand, after surging by more than 10% in the past week, Ethereum’s price is also aiming to rise high to test the immediate resistance at $1840. Therefore, the altcoins like Solana (SOL) and Decentraland (MANA) are on the verge of a major explosion in the coming days. 

Solana (SOL) Price

Solana price in recent times is experiencing an equal fight between the buyers and sellers but the bulls appear to carry significant dominance. The bears utilized all their resources to register a bearish close but the asset closed the monthly trade above $40. Moreover, the price presently is displaying a huge bullish momentum that may uplift the price above $60 very soon. 

The SOL price is currently trending within the upper band of the parallel channel and displaying huge possibility of maintaining a significant upswing. The asset may continue to consolidate within the upper bands for another couple of days and eventually attempt to breakout from the channel. Once done the upswing may rise the price close to $80 and later beyond $100 very soon. 

Decentraland (MANA) Price

The recent upswing has uplifted the Decentraland price beyond the immediate resistance levels, but woefully, the bears are currently trying hard to drop the prices harder. However, the asset still displays a strong bullish case, and according to the price pattern, the price is all set to explode by 25% soon. 

solmana

The MANA price was swinging within a symmetrical triangle and just before reaching the apex of the consolidation, the price broke above the resistance. However, after the breakout, the price is still hovering close to these resistance levels. Therefore, the MANA price may again enter the triangle and consolidate until it reaches the apex. 

However, once the asset makes a move beyond the consolidation, it may trigger a significant upswing beyond $1.2 very soon. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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