- Trading recommendations: MANA, DOGE, SIACOIN
MANA finds support. After a correction that has lasted for just over a week, MANA token has found support at their 50 day EMA, which has been a reasonably strong support since the beginning of December. That said, one key factor that traders should bear in mind is that residents of the Decentraland are actively preparing for the opening of the platform and hiring designers to embody their most interesting fantasies. As things stand, the token looks set to continue its uptrend over the coming weeks.
For now, the token is a fair distance from overbought territory, whether you look at the Bollinger Bands or the RSI, and looks set to move higher.
Sia May Be Headed Lower
SiaCoin has corrected rather sharply since mid-January, followed by a brief downtrend this month. However, the coin seems to be headed lower again. After facing resistance from the 50-Day EMA , Sia price has moved lower over the last few days and the next level of support for the stock will come from the 100-Day EMA at just over 220 Sats.
With no specific bullish triggers in sight, there’s a good chance the coin could slip to this level. Further, Sia’s MACD doesn’t look poised to make a bullish crossover with the signal line right now, which is another bearish signal. SiaCoin is far from oversold territory, which allows room for further downside. However, if you look at the volume profile , it confirms the support and resistance level that SC will hold for a few next weeks.
DOGE coin technical chart flashes a GREEN FLAG
The biggest proof of Doge’s consolidation has been the crossover of its key moving averages. Right now Doge’s 50-Day moving average acting as a key support line. Also, the MACD indicator has flashed a bullish sign when it done a bullish crossover a few days ago, indicating that coin might be in for a move higher.
I expect that the MACD line will rise above the ‘0’ centerline, to complete a bullish centerline crossover. When the MACD is above zero, the short-term average is above the long-term average, which signals upward momentum. Given the recent consolidation and the bullish signals, Doge coin price will likely see higher ground over the next few weeks.
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- Date of publication:
- Tue, 02/13/2018 - 16:27
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