Altcoins

Decentraland, EOS, PancakeSwap Price Analysis: 13 May

Bitcoin moved previous the $30k mark in latest hours after discovering some help at $28.5k, and this transfer upward prompted many altcoins to rally. Decentraland noticed a forty five% rally in latest hours, and EOS flipped its bias towards bullish after every week of intense promoting. PancakeSwap may see a fast transfer above the $5 space within the subsequent few hours, supplied Bitcoin can maintain above the $30k mark.

Decentraland (MANA)

Decentraland, EOS, PancakeSwap Price Analysis: 13 May

Supply: MANA/USDT on TradingView

MANA pumped practically 45% up to now few hours because the short-term outlook shifted from strongly bearish towards bullish momentum. The market construction had flipped to bullish after the worth fashioned a better low at $0.7 and broke previous the $0.8 decrease excessive of the downtrend of the previous few days.

Does this imply {that a} longer-term development reversal is in sight? Probably not, regardless of the shopping for stress in latest hours. The OBV spiked upward alongside the worth to mirror heavy shopping for quantity on MANA’s surge from the $0.7 degree to $1.03. The $0.95-$1 space may provide a shopping for alternative on a retest for a scalp lengthy, with take-profit targets at $1.2 and $1.3.

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Nevertheless, there may be heavy resistance overhead, and threat needs to be rigorously managed.

EOS

Decentraland, EOS, PancakeSwap Price Analysis: 13 May

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Supply: EOS/USDT on TradingView

EOS was the same story on the charts to MANA after it bounced from the $1.23 help degree and broke previous the $1.35 degree. Previously few days, the $1.4 and $1.51 ranges have served as help. Due to this fact, on the way in which up, they’re prone to act as sturdy resistance ranges as nicely.

The RSI climbed above impartial 50 to indicate a near-term momentum shift towards the bullish aspect, whereas the CMF additionally briefly poked above the +0.05 mark. Therefore, the capital movement was important into the market throughout the rally of the previous few hours.

The Stochastic RSI was in overbought territory and mixed with the heavy resistance forward, EOS may see a transfer again towards the $1.34 mark.

PancakeSwap (CAKE)

Decentraland, EOS, PancakeSwap Price Analysis: 13 May

Supply: CAKE/USDT on TradingView

The Quantity Profile Seen Vary software confirmed that the Level of Management lay at $4.3 for CAKE, a degree that CAKE had solely lately breached. Over the previous few days, the worth didn’t see notable buying and selling exercise within the space from $4.6 to $5.3, which signifies that CAKE would possibly have the ability to traverse this distance upward rapidly.

The momentum appeared to favor the bulls, as CAKE broke out previous the POC and the RSI climbed above impartial 50 as nicely. The MACD was additionally on the verge of crossing over above the zero line.

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