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MANA Bulls May Outsmart The Bears If They Stick To These Support Lines

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Mana
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Decentraland (MANA) may appear bullish as seen in the past couple of days due to buyers keeping the prices up hovering above 200 DMA as observed on the hourly chart. Regardless, the token still trades the sideways horizontal range with $0.75 for support and $1.0 resistance.

With the escalation seen on the hourly chart, trading volume has also spiked by 290% in the past couple of hours. Buyers saw a decline in MANA in triggered by the sell-off as it saw a decline to a 90-day low of $0.772 last May of 2022.

Despite the aggregation seen on the sideways range in the past few days, speculators saw the formation of a rounding bottom pattern on the daily price chart. With that said, buying of the token has intensified which prompted the price action to form higher-highs.

MANA Price Currently Trades at $1.02; Drops by 2.36%

According to CoinMarketCap, MANA price is currently trading at $1.02 or a dip of 2.36%. Despite it being bullish, the market capitalization stays neutral at around $2 billion as seen in the past 24 hours. With the rise of MANA, speculators also saw a boost in trading volume by 290% in the past 24 hours but still the MANA/BTC pair has dipped by 1.4%.

The price of MANA may rally as buyers keep the momentum and price up or above 200 DMA as presented on the hourly charts. On the daily charts, the 20-day EMA remains to be pumping zone for many buyers because the bears can’t intervene as long as they stick to the support lines.

MANA Overbought, Needs to Attract New Buyers

RSI also continue to hover and breached bullish hurdle above the semi-line, moving towards the overbought zone. More so, the MACD indicator also pinpoints to an uptrend seen on a daily time frame. MANA is moving towards the resistance zone. So, even if the coin is regarded as extremely bullish, there is always the potential of the coin to rally above the resistance line of $1.5.

After a bitter-sweet taste of uncertainty, the coin is now soaring high with some interference coming from the bears. Apparently, Bitcoin’s price spike is a huge boost to MANA’s uptrend movement as the king of crypto, which now trades above the 23k mark, supports and pushes the token.

The rate of recovery shown by MANA may not be enough to boost investor confidence and the token may need to attract more new buyers to ensure full and continuous recovery.

MANA total market cap at $1.9 billion on the daily chart | Source: TradingView.com
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NFT Marketplace OpenSea Relists Azuki NFTs After Delisting

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Opensea Breach, Is Users' Data Trapped By Scammers?
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  • OpenSea had to cope with an email data breach and the delisting of BAYC NFTs in June.
  • Azuki’s floor price hardly budged from the time of the delisting fiasco.

Many of the Azuki NFTs that were delisted yesterday on the leading NFT marketplace OpenSea have been reinstated. After the marketplace discovered an error in their Trust & Safety flagging mechanism.

The team stated:

“Hey all, rough morning. There was an error in our Trust & Safety flagging system and a number of Azuki NFTs were briefly delisted. We DID work fast to resolve the issue + all impacted items have been relisted. Also, we’re in direct contact with the @AzukiOfficial team.”

When word spread that the Azuki NFTs had been delisted, the blue-chip NFT collection turned to Twitter to address the issue, stating that they had contacted OpenSea about the delisting emails that had been issued to Azuki holders and were waiting to hear back.

Not the First Time

The official announcement from OpenSea was released about two hours after the first issue was discovered. The NFT marketplace mentioned they did work rapidly to remedy the problem and they have been in direct communication with the Azuki team.

OpenSea further tweeted:

“We’re so sorry for any inconvenience and confusion this may have caused.” 

OpenSea has removed NFTs from a blue chip collection before. Recently, OpenSea had to cope with an email data breach and the delisting of Bored Ape Yacht Club (BAYC) NFTs in June. The situation was fixed in the same amount of time as Azuki’s.

Fortunately for Azuki’s, the floor price hardly budged from the time of the delisting fiasco on Friday and now, when it stands at 9.97 ETH as per recent data.

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Circle Partners With Truefi To Boost Usdc Adoption

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Firm Behind Usdc Stablecoin ‘Circle’ Announces Launch Of Euroc Stablecoin
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