Should you Buy the dip? Should one be bullish or bearish on MANA, SAND, and AVAX? Price predictions for 2022 on these cryptocurrencies. Is it time to buy the dip?
Crypto Price Prediction: With Mana, Sandbox and AVAX May fall further as per the latest prediction
Crypto Price Prediction: Mana Price May Witness a Further Fall to the level it was at the last November.
In the first two weeks of January, Decentraland’s price was testing the crucial support level of $2.78 thrice and formed a triple bottom setup. Although the MANA price was able to cross the above level, it could not sustain the position for more than a day. Also, it faced strong resistance from the 50 days simple moving averages which pushed the price down below the strong quarter-long support zone of around $2.10. Despite building support at the $1.6 level, the price is expected to face strong selling pressure at the previous support level.
Considering the fact that the buyers were not able to sustain above $2.78 and MANA price has breached the level of $2.10, it is very likely to continue in a downtrend and decline further to the next crucial support of around $1.00. In that case, investors can expect around a 75% whopping fall from the current level. The stochastics also seem to point in the same direction, and for the Decentraland, no recovery is lurking at the horizon anytime soon.
Read: Decentraland Mana Price Prediction
Crypto Price Prediction: SANDBOX Outlook Bullish But A Breakdown Below 100-Day Averages at $4.10 Possible
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After roughly falling about 20% from the weekly high of $ 5.20, SANDBOX seems to be taking support at the level of $ 4.10. A strong buying opportunity is created by two support levels at this price range, and it is very likely to bounce to the next resistance level of $ 4.75 – $ 4.85 in a rapid move. The price is expected to face strong selling pressure owing to the confluence 100 period moving averages along with the traditional resistance. If the bullish momentum is strong enough to give a close above $ 4.80 in a 4 hr candlestick chart SANDBOX would head for the previous $ 5.25 high, translating into a 28% upside movement from the current price level.
While there is a bullish outlook for the Sandbox price, a breakdown below the 100-day moving averages at $ 4.10 would point towards increased selling activities. A daily candlestick close below the demand zone’s lower limit at $3.85 may lead to a further decline and in that case, the price may take support at the crucial level of $3.00.
Crypto Price Prediction: AVAX Expected to Meet Strong Resistance of 100 Days Moving Averages
After reaching an all-time high of $147 in late November, AVAX started declining before taking support around the $80 level the previous month. AVAX integration with the stable coin led the price to rally over 50% to the level of $124 but the price fell to the previous level as rapidly as it rose. Over the last two weeks, AVAX has been trading in a range-bound level of $80-$100. As of now, AVAX price seems to be forming a bullish chart pattern but at the same time facing resistance from 50 days simple moving averages.
Around the $100 level, Avalanche is expected to meet a strong resistance of 100 days moving averages along with the traditional resistance. If the bullish momentum is strong enough to clear the hurdle and give a close above $124, analysts expect the price of AVAX to head for a new target of around $170 somewhere in mid of this year. However, it should be noted that if selling pressure increases at $124 and AVAX is not able to clear it, the price will decline to the immediate support at the level at $100.
