Decentraland (MANA) price broke down below the $0.70 horizontal support area. It was rejected in an attempt to reclaim it. The Sandbox (SAND) previously broke down from the $0.82 level but managed to successfully reclaim it.
Decentraland Fails to Reclaim Breakdown Level
Decentraland is the native token of a virtual world and a non-fungible token (NFT) marketplace, where players can buy land, estates and other game assets. The MANA price has fallen below a descending resistance line since May 15.
On Oct. 2, MANA price broke down below the $0.70 horizontal area and reached a new yearly low of $0.58 on Oct. 21.
While it initiated an upward movement afterward, it was rejected by the $0.70 area on Oct. 30 (red icon). The trend cannot be considered bullish unless the Decentraland price manages to reclaim the area and then break out from the resistance line.
If the downward movement continues, the next closest support area would be…
