GALA and MANA Price Prediction: Altcoins Eye 100% Surge!
The post GALA and MANA Price Prediction: Altcoins Eye 100% Surge! appeared first on Coinpedia Fintech News
With the Bitcoin price setting dominance above the $57,000 mark, the altcoins are rising to new heights. Amidst this bull run frenzy in altcoins, the gaming and metaverse tokens are gaining momentum.
As per our last update, the Gala Games (GALA) and Decentraland (MANA) were ready for a breakout run. In just a few days, the tokens are back in the top performers and surge with a breakout rally. With this newfound demand, will GALA and MANA give a 100% surge in March?
Let’s have a look at the technical price charts of GALA and MANA to find out their underlying potential and possible targets in March.
Altcoin Gives A Breakout With 23% Surge
As per our last update on GALA, the bullish reversal trend was gaining momentum and preparing for a breakout run. With a 23% jump overnight, the GALA price surpasses the neckline at $0.035 and forms a huge mother candle in the daily chart.
Source: TradingView
With a surge of 78% in trading volume, the gaming token is marking a breakout run. Further, the bullish reversal from the 38.20% Fibonacci level now accounts for an 85% jump.
On the daily chart, the bullish reversal leads to the rounding bottom breakout, projecting a high likelihood of a prolonged uptrend. Further, the DMI indicator shows a rising ADX line projects high trend momentum in the altcoin.
As per the Fibonacci levels, the breakout run can find resistance at the 1.618 Fib level at $0.049. However, the gaining momentum in the market and the rising demand can push the altcoin to $0.072 or the 2.618 Fib level, potentially a 90% surge.
Will MANA Price Rally To $1?
In a similar bullish trend, the MANA price gives a solid closing above the $0.56 mark, the previous peak. With this bullish milestone, the meta token is set to achieve a new 52W high if the momentum sustains.
Further, the 85% hike in trading volume and the 5% overnight jump mark a trend reversal for this altcoin.
Source: TradingView
Currently, the MANA price trades at $0.0.5688 with an intraday gain of 1.93%. Further, the breakout event marks an entry spot for sideline traders to capitalize on the excess momentum.
As per the Fibonacci levels, the MANA price surpasses the 100% level and is ready to surpass the $0.56 peak. With this breakout, the altcoin could jump to $0.74, the 1.618 Fib level. In a longer timeframe, the uptrend could challenge $1 by the end of March and turn the dream of MANA HODLers into a reality.
Filed under: Bitcoin - @ February 28, 2024 6:20 am