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NFT Space Outshines, Mana Price, ENJ Price Continue to Rally!

Decentraland (MANA) Price and Enjin Coin (ENJ)price continue to rally hard to keep the bullish momentum intact

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Nonfungilble Token(NFT’s) Space Swings High

The non-fungible tokens are a special cryptographically-generated token that uses blockchain technology to link with a unique digital asset that cannot be replicated. In recent times, the NFT space has risen massively with most of the NFT’s have registered an average of 10% growth since the last working day.

One of the NFT tokens, Chiliz topped the list of the highest gainers by rallying about 80% currently. Many tokens like MONA, CHR, CHADS, etc rallied more than 70% whereas tokens like SAND, PRT, MANA, etc rallied above 20%.

On the contrary, some of the coins like ENJ, MEGA, DGCL, etc that rallied hard from the past seven days seems to halted there bull run with a small margin of the surge. The jump is very negligible, less than 1% yet remains within the bullish range.

Decentraland(MANA) Price Explodes

MANA price had surged high initially with the rumours of Grayscale filing MANA trust. However, the rumours still remain under the mist, MANA price kept jumping since then. The price after a decent jump remained consolidated since the mid of Februvary 2021.

mana price chart

However, a major push since the beginning of this month led the price to rally hard up to $0.4425 initially and later to $0.5960 after a slight pullback. The bullish momentum would be intact if the MANA price sustains strongly at these levels without a breakdown.

At the time of writing, the MANA price is $0.5444 with a jump of 18.59% since the past 24 hours after having a magnificent jump of 95.96% in the past 7 days. The price is trending in the upper resistance level and the support level is standing firmly at $0.3576 initially and later at $0.2221.

Enjin Coin (ENJ) Price Relaxes Its Bull Run!

Enjin coin price had rallied high, scaling the NFT’s to the next level since the past week. However, since the early trading hours, the token trended in a very narrow region, also shredded some of its profits too.

enj price chart

However, despite a slight pullback, the RSI levels still remain within the bullish range indicating a probable bounce back after a slight correction. On the contrary, the correction phase needs to wind up soon without declining the price to a large extent to keep the bullish trend accelerated.

At the time of writing, the Enjin Coin price is $1.71 with a jump of just 1.17%, including a slight pullback. The price needs to break the upper resistance levels at the ATH somewhere around $1.99 and reclaim the lost position to form a new ATH. However, the support levels at $1.14 need to be maintained strongly without a revisit to keep the Enjin coin price rally intact.

However, a major push since the beginning of this month led the price to rally hard up to $0.4425 initially and later to $0.5960 after a slight pullback. The bullish momentum would be intact if the MANA price sustains strongly at these levels without a breakdown.

Source: https://coinpedia.org/price-analysis/mana-price-enj-price-surge/

nft-space-outshines,-mana-price,-enj-price-continue-to-rally!

Coinpedia

Solana Price in Discovery Mode, SOL Price to Hit $150 Soon!!

Solana has pulled off an incredible comeback. The new ATH this week fueled its ascension into the top ten. The altcoin on the other hand, has reached huge

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Solana has pulled off an incredible comeback. The new ATH this week fueled its ascension into the top ten. The altcoin on the other hand, has reached huge milestones in a short period of time and has developed tremendously.

SOL price has risen dramatically in the last seven days, reaching an all-time high of over $80 on August 18th. The total market capitalization is at around $21 billion.

SOL Price Analysis

The Solana coin is creating divergence with price movement and technical characteristics on the weekly chart. The coin is rising in value as it forms greater highs and lower lows patterns. The current Solana price prediction mood is bullish.

The coin’s price has been fluctuating between $68 and $75.90 on a daily basis. Meanwhile, the token remains barely over $71 as bulls aim for a return to $80.

The SOL bulls may be taking a break. A short-term slump does not always imply that the asset has reached its peak. This is why. To begin with, the general mood remained upbeat. Awesome Oscillators green final bars mimicked a similar phase.

The MACD, which was slanted upwards, was also quite positive. The Relative Strength Index [RSI] has slowed towards the extreme overbought zone but has not yet turned down, indicating that the SOL market is still dominated by buyers.

$150 for Solana?

Smart Contracter, a well-known crypto trader, is forecasting fresh all-time highs for Ethereum competitor Solana.

A 130 percent gain for Solana from its current price of $65.15 isn’t outlandish, according to the crypto analyst. The Analyst estimates a $150 price tag for Solana after five waves, using Elliott Wave, which predicts price swings based on crowd psychology that tends to emerge in waves.

“This SOL ath [all-time high] breakout is looking like a monster wave three in the making. $150 is not unreasonable in my opinion.”

The MACD, which was slanted upwards, was also quite positive. The Relative Strength Index [RSI] has slowed towards the extreme overbought zone but has not yet turned down, indicating that the SOL market is still dominated by buyers.

Source: https://coinpedia.org/price-analysis/solana-price-in-discovery-mode-sol-price-to-hit-150-soon/

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Bitcoin Price Facing Vital Resistance As Golden Cross Expected On 13th August!

Bitcoin(BTC) price after rallying above $46500, it consolidation again around the strong support levels in order to head close to $50,000

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Bitcoin price rallied remarkably and successfully added yet another $2000 with a nearly 6.1% jump. Moreover, the price also achieved the important resistance levels around the 200-day MA at $44,864. The rally marked a bullish re-establishment but with the beginning of the fresh day trade, BTC price initiated with consolidation. Whereas most of the altcoins appear extremely bullish.

The past weekend turns out to be a pivotal period that dragged the crypto space out of the reach of the bears. BTC price currently is reattempting to surge above $46000, keeping the bullish momentum well in place. On the other hand, the ETH price comfortably resides above $3100 after the occurrence of the Golden Cross.

Also Read: Bitcoin Price Analysis: Is Short Term Correction Evident Before the Golden Cross? Popular Analyst Says YES!

However, the Golden Cross on Bitcoin is expected to occur in a coming couple of days on 13th August 2021 as predicted by analysts.

Currently, the exchange outflow ratio has fallen to the lowest point since June 2019. Therefore a sense of confidence among the holders is withnessed as large exchange sell-offs are less common when less supply is at risk on exchanges.

Despite Bitcoin price closed above the important daily 200-MA, buyers appear to be exhausted in fueling the bull run. However, if the consolidation drags the price down, a higher low between $44,000 to $44,300 could preserve its uptrend. And hence, the BTC price could ultimately coil up towards $50,000, $48,000 could be the initial stop.

Also Read: Ethereum Price Flips Before Hitting Crucial Support Zones, Bull Market Resumes!

Despite Bitcoin price closed above the important daily 200-MA, buyers appear to be exhausted in fueling the bull run. However, if the consolidation drags the price down, a higher low between $44,000 to $44,300 could preserve its uptrend. And hence, the BTC price could ultimately coil up towards $50,000, $48,000 could be the initial stop.

Source: https://coinpedia.org/bitcoin/bitcoin-price-facing-vital-resistance-as-golden-cross-expected-on-13-august/

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Polygon (MATIC) Price Retraces Well, Is It A Dead Cat Bounce Or A Recovery?

The Polygon price struggling to sustain the uptrend, the possibility of a fake breakout haunts the Matic Price Rally

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Matic Netwrok gained immense popularity and recognition with the rebranding to Polygon, earlier this year. Additionally, the Matic price rally also gained mainstream attention and adoption of-let. However, surrounding the immense market uncertainty, Polygon price slumps to its lowest levels.

The price has tanked more than a couple of time in a months time. Therefore healing is much delayed than expected. No doubt the price initiated with recovery within a short time frame, yet the multiple plunges have impacted the momentum of the uptrend. And hence, the probability of forming higher highs has fallen down to lower highs.

matic deadcat

As mentioned in the chart, the MATIC price experiences an extreme squeeze as the resistance levels are lower after each slump. The recovery rate has also gone down which clearly indicates the loss of bullish momentum. With the price attempting to uplift again, it would be mandatory to raise a huge leg up. Else, if the price follows the previous pattern, the dead cat bounce may lead the price to revisit the levels below $1.

AlsoRead: MATIC Price Targets $2.40 Level! Polygon Flashes Buying Signals!

Is It Safe To Enter The Matic Price Trade?

The short-term price analysis for the Polygon price, however, does not give a fully green signal to enter the trade. As the instability prevailing the crypto space does point out to observe the price movements closely and enter at the right time.

However, the recent dip may have opened the doors to initiate a ‘buy’ trade. As the price is expected to jump high soon. As per the analyst, Altcoin Sherpa, there was a nice dip towards the demand zone. Moreover, the analyst believes the price may reach the weakly highs around $1.7.

$MATIC: Nice dip to the demand zone again w. a good reaction. Would like to see it flip this current level before buying. Decent buy volume from yesterday; we’ll see if this can test higher. #MATIC pic.twitter.com/LDCPEowSh8

— Altcoin Sherpa (@AltcoinSherpa) June 23, 2021

Interestingly, the analyst also predicts a dip after the price attains the upper resistance levels. And hence, the $2 target still remains still misty. As the bulls remain still calm and maybe waiting for the right time to uplift the Matic price.

The short-term price analysis for the Polygon price, however, does not give a fully green signal to enter the trade. As the instability prevailing the crypto space does point out to observe the price movements closely and enter at the right time.

Source: https://coinpedia.org/price-analysis/polygon-matic-price-recovers-well/

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