Technical Analysis: MANA, SAND, RACA, STX and GALA Price Prediction (Sept. – W3)

Technical Analysis: MANA, SAND, RACA, STX and GALA Price Prediction (Sept. – W3)

1 year ago

Last week, BTC fell into its previous range ($18k to $22k). Currently, it is moving close to the range low.

Technical Analysis: MANA, SAND, RACA, STX and GALA Price Prediction (Sept. – W3)

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Bitcoin has gone back into its previous range between $18,000 and $22,000. Although it is not advised to bid on the price when it is in a downtrend, BTC is close to the range low now. Therefore, buyers could look to buy this dip.
Let's have a look at how the NFT and metaverse coins are performing in the 4-hour timeframe.


Unfortunately for MANA bulls, the price is in a clear downtrend. It has lost a key demand zone ( $0.79 to $0.76) and is continuing to print lower lows. Unless bulls can break this market structure (a close above $0.73), the price will likely continue its descent to $0.63 wick support. The only bullish scenario will be a 4-hour RSI divergence. For this to play out, there needs to be a candle close below $0.69.


The SAND chart is very similar to MANA in structure. The price is still in a downtrend after losing key psychological support at $1. Unfortunately, there is a clear supply there that rejected the price after a retest. Bulls should now look to long the $0.78 support. This could provide a bounce, as not only is it strong support, but it also could put an RSI divergence into play.


Unfortunately, RACA couldn’t be held up by the June lows. Sellers are strong, as can be seen with the extension on the move from $0.00037 to $0.00032. If buyers can reclaim $0.00032, the price can move higher. This would be a good trigger to reclaim this level. However, if it cannot close above the lower high at $0.00031, more extension to the downside is probable.


STX has lost its mini range between $0.37550 and $0.353. Unless buyers reclaim this area, the price is likely to test around $0.30. This is more than a 10% move to the bottom, so caution on longs is advised. However, if the price does reclaim the range, then buyers could look for a move to $0.40, as the lower extreme is currently being tested.


GALA has unfortunately broken below the $0.049 demand zone that has been holding up the price for the past month. Although the price is forming a value below this area now, indicating that it will continue its descent below $0.038, there is an RSI divergence that has formed. This could potentially allow a bounce up to this previous support. If this support is reclaimed, $0.06 could even be in play.

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