MANA, ApeCoin Against Market Tide; What You Should Know

Altcoins Cryptocurrency Metaverse News

While most digital coins recorded double-digit surges within the last few days, metaverse coins didn’t see similar increases. Coinmarketcap data shows the leading metaverse crypto, ApeCoin, witnessed the most upticks within the past seven days, recording a 10% uptick. Decentraland (MANA) followed with its 4% uptick within that timeframe.

Horizon Not Impressive for APE Holders

While publishing this content, APE hovered at $4.65. The alternative token lost 6% within the past day. Also, its trading volume plunged by 7%. Coinglass highlighted APE’s liquidations in that timeframe, reporting that the crypto market lost APE tokes worth $729,268.

The 24hr charts show buying momentum faded for the metaverse crypto. Its RSI (Relative Strength Index) stayed below the neutral-50, reading 46. Meanwhile, the crypto’s CMF (Chaikin Money Flow) maintained downtrends beneath the center line, standing at -0.16 during this publication.

That showed the buying momentum plunged severely while token distribution dominated the day. The 20 Exponential Moving Average stayed beneath the 50EMA, confirming that sellers controlled the marketplace during this publication. That showed massive bearishness behind APE.

MANA is Not Better Either

Assessing these crucial indicators also indicated that MANA neared the oversold region during this publication, and coin distribution heightened. While publishing this post, the Relative Strength Index stood at 42, whereas its Money Flow Index stood at -0.06.

Furthermore, MANA’s DMI (Directional Movement Index) showed sellers controlled the market during this publication. The sellers’ strength at 21.26 was beyond the buyers’ at 14.72. furthermore, the ADX (Average Directional Index) indicated that buyers might struggle to overpower sellers’ dominance in the near term.

While publishing this post, MANA traded at $0.6263. Meanwhile, Sentiment showed ApeCoin’s Market Value-Realized Value stood at 2.693% during this writing. Considering the 10% price surge within the past seven days, holders selling around the current prices would enjoy profits on their investments.

MANA has a -50/73% MVRV Ratio, indicating that most holders endured losses. Consequently, APE experienced an optimistic stance from its holders, whereas MANA witnessed otherwise.

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