MANA Price and SAND Price Surges by 6.52% and 8.10% Respectively | Which Will Maintain the Ascending Trend for Long?

Key Takeaways:

• The Decentraland MANA price closed the previous day’s trade at INR 87.03 with a market capitalization of INR 157.76 billion and a circulating supply of 1.84 billion MANA
• The SandBox price closed the previous day’s trade at INR 99.01 with a market capitalization of INR 121.53 billion and a circulating supply of 1.23 billion SAND
• While MANA price is appearing pretty bullish, the SAND price which closely followed MANA is now possessing a huge possibility of dropping hard

How High Will Decentraland MANA Price Go in May 2022 

The Decentraland (MANA) prices appear to have recovered nearly 50% of losses from the current month. After falling from around INR 117 to as low as INR 50, the price is currently hovering around INR 85. Despite the asset closely maintaining a descending consolidation, the possibility of a bullish breakout is pretty high.

Initially, the price may experience a slight pullback close to INR 80 or INR 78 levels before breaking the interim resistance at INR 90. Once these levels are tested and cleared successfully, then a strong upswing may uplift the price beyond INR 115. However, the asset may experience a minor pullback in the last few days of May but could stabilize at the earliest. 

Check our prices, charts, and data of MANA/USDT

How High Will SAND Price Go in May 2022 

The SAND price ever since smashed its highs in Q4 2021, and fell into a deep bearish well. And by forming multiple lower highs and lows, the price maintained a significant descending trend, failing to rebound. Therefore, the upcoming days may also be pretty bearish for the asset as it has formed a notable bearish pattern.

Currently, the bears are trying very hard to restrict the price below INR 100, but after a brief consolidation, the price may break out to hit INR 105 initially. Further gaining enough bullish momentum, the price is expected to hit INR 115 by the end of May’s trade. However, an extended bullish rally may escort the price close to INR 120, but this may ignite a strong rejection ahead.

Check our prices, charts, and data of SAND/USDT

Decentraland MANA Price Technical Analysis 

Source: Tradingview

• The MANA price currently is pretty bullish and showcases possibilities of an upswing beyond INR 100 in a short while from now
• As the price is swinging within a bullish flag, the price may be subjected to hit the lower support before making a large move towards the north
• The asset after breaking out from the pattern may slice through INR 100 levels and subsequently reach the local resistance at $110 or slightly beyond that
• Woefully, the price could face a rejection here that may drag the price close to INR 100 again before deciding on the next leg
• If the MANA price flips and rallies high, it may achieve levels beyond INR 120 else could accumulate strength along INR 100, maintaining a narrow trend around these levels.

Additional Read: 5 Things Investors should do during a Crypto Market Crash

Sandbox SAND Price Technical Analysis 

Source: Tradingview

• The SAND price in the mid-term is appeared somewhat bearish as it is trending within a bearish descending triangle
• Interestingly, the price is not hovering along the lower support regions and hence a possibility of breaching through the pattern emerges
• Additionally, the price has also formed a minute bullish flag within the triangle and as the price is close to the upper resistance, a breakout appears imminent
• However, it may be a short-lived one as the price could quickly drop within the pattern that could be pretty bearish
• Moreover, after the drop, it may find itself close to the apex of the descending triangle which may further ignite a significant drop just below the support zone

Decentraland (MANA) Vs The Sandbox (SAND) – Comparative Analysis

To read more in detail: MANA vs SAND Comparative Analysis

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