Coin Edition -
- Bearish winds hit AVAX and MANA, while NEAR bulls stood firm amid the turbulence.
- Decentraland’s MANA faces a critical support test at $0.3877 amid market uncertainty.
- AVAX shows the potential to outshine BTC with positive momentum and resistance at $12.10.
A bearish trend has prevailed in the Avalanche (AVAX) and Decentraland (MANA) markets in the past 24 hours, with bears driving prices to support levels of $11.51 and $0.3877, respectively. Despite sliding to a 24-hour low of $1.46, bulls in the NEAR Protocol (NEAR) market were able to cancel out the negative sentiment.
MANA/USD Technical Analysis
MANA’s market capitalization and 24-hour trading volume fell by 3.74% and 25.06%, respectively, during the bearish reign, to $740,893,275 and $124,675,447, at press time. This decline in market capitalization and trading volume reflects a drop in investor confidence and activity in the Decentraland market.
MANA/USD 24-hour price chart (source: CoinStats)
If the bulls can overcome the adverse sentiment and push MANA over the 24-hour high of $0.414, the next resistance level to monitor is around $0.45. Breaking over this level may draw additional buyers, resulting in a positive trend in the Decentraland market.
However, if negative momentum persists and the $0.3877 support level is breached, MANA may see more selling pressure, pushing it to the next support level at $0.35.
$MANA / $USD – Update Looking for a push up to $0.447 resistance zone. We are in since the supply zone flip at 0.36c pic.twitter.com/OfvIgauWad— Crypto Tony (@CryptoTony__) November 3, 2023
AVAX/USD Technical Analysis
Avalanche (AVAX) has had a price retracement in the past 24 hours, with bears lowering the price from an intra-day high of $12.10 to an intra-day low of $11.51. If this negative attitude continues and the $11.51 support level is breached, it might pave the way for additional downward action into the next support level at $11.00.
AVAX/USD 24-hour price chart (source: CoinStats)
If buyers enter the market and push the price over the intraday high of $12.10, it might suggest a positive turnaround and could surge into the next resistance level at $12.50.
Analysts anticipate that AVAX’s probable rise will outpace BTC owing to its positive momentum and the possibility of a breakthrough over the intra-day high. This tendency may attract additional buyers and push the price even higher.
$AVAX / $BTC looks ready for the next leg up pic.twitter.com/A9o6VbQdcW— K A L E O (@CryptoKaleo) November 3, 2023
AVAX’s market capitalization fell by 3.24% and 49.63% during the recession, to $4,147,149,758 and $224,003,326, respectively, at press time.
NEAR/USD Technical Analysis
Despite a slight bullish rebound to start the day, negative efforts to sink the NEAR Protocol (NEAR) were unsuccessful as support at the intra-day low of $1.45 remained firm. As a result, investors drove the NEAR price to a 24-hour high of $1.56 before encountering resistance and stabilizing around the $1.50 level at press time.
NEAR/USD 24-hour price chart (source: CoinStats)
At the time of writing, the market capitalization of NEAR increased by 3.20% to $1,493,627,741, but the 24-hour trading volume decreased by 36.64% to $184,085,519, suggesting a decline in trading activity. The previous bullish momentum may have been propelled by a favorable market mood or an infusion of buyers. Still, it remains to be seen whether this upward trend will continue in the following days.
$NEAR / $USD – Update For anyone not in a position yet, if we close a daily canlde above $1.54 this would be your entry pic.twitter.com/FkHrSjRjOH— Crypto Tony (@CryptoTony__) November 3, 2023
If the positive momentum breaks over the $1.56 barrier, the next milestone to monitor is around $1.60. If negative pressure increases and the support level at $1.46 is broken, the price may fall lower until the next support level at $1.40.
The post Three Tokens Worth Monitoring in the Market: AVAX, MANA, NEAR appeared first on Coin Edition.