Decentraland, Cardano & Solana — Asian Wrap 27 Jan

Decentraland price at an inflection point. MANA completed a 50% logarithmic retracement, fulfilling conditions for a new floor to target new highs. $2.50 is the critical resistance zone to break above to initiate a new bull run. Decentraland bulls have been thirsty to repeat the rally it experienced in October 2021.

 

Cardano price is struggling performance-wise when compared to its peers. As a result, Bitcoin, Ethereum, and a good chunk of the altcoin market have moved into positions that precede a bullish reversal. Cardano, however, has yet to display that kind of price action – but it may very soon.

 

Solana price, like the majority of the cryptocurrency market, has experienced significant loss. SOL is down 69% from the all-time high, but a sizeable retracement of that loss is coming up. Strong support was found near the $90 value area.