FTX Token, SAND, AXS, MANA Price Analysis – April 6, 2022
Bitcoin’s dive beneath the 4hr 20-50 Exponential Moving Average had FTX con breaking down of t upward channel. Also, SAND, Axe infinity, and MANA revealed selling attitudes on their short-term technicals.
The alts appeared ready for potential revivals as their 4hr Relative Strength indexes hover around the oversold level.
FTX Token (FTT)
FTT depicts slowing signals around the $50 zone following a month-long rally within an ascending channel. The latest bullish run emerged after the altcoin crashed towards 6-month lows on January 24.
As $50 long-term resistance remained steady, the 20EMA dropped beneath the 50 Exponential Moving Average as the short-term bad highlighted bearish inclinations.
FTT traded around $47.77 at this publication, down 5.24% over the last 24hrs. The on-balance volume formed higher channels over the past 4 hours while bullishly diverging with price despite the latest plummet. Therefore, the $47 support remained a significant obstacle for bears to overcome.
Decentraland (MANA)
After hitting an 11-week low on January 22, MANA saw a whopping 107% ROI until February 9. Then, the alt declined towards long-term trend-line support. MANA surged within the past couple of days to retest $2.7 before dropping to secure footing at the trend-line support.
Moreover, the Supertrend stayed within the red region as t favors sellers. While publishing this content, MANA changed hands for around $2.5. The Relative Strength index continued its downswings inside a downward channel. A recovery here might meet resistance at 39-level.
Sandbox (SAND)
SAND’s previous surges led to exponential gains as the crypto poked the resistance at $3.6. However, bears initiated a downswing as they gained increased strength. That had the metaverse token breaking down from a climbing wedge.
Sandbox traded near $3.2 at this publication. The RSI dropped beneath the midline support amid the latest drops. However, bulls may be alert to trigger a short-term retrieval as the indicator near the oversold region.
Axie infinity (AXS)
AXS lost 74.4% amidst the previous downswing from all-time highs. That way, it hit 6-month lows on February 24. The fallout phase had AXS losing the crucial 80% as bulls defended the $42-zone.
Axie infinity launched gradual uptrends before triggering staggering upswings until early April sessions. AXS saw falling wedge declines within the past couple of days. While writing these lines, AXS changed hands at $58.385.
The Relative Strength Index touched the oversold region and seemed ready for a short-term revival. The Moving Average Convergence Divergence (MACD) highlighted bearishness as its lines and histograms dropped beneath the zero line.
