Cardano, Decentraland and Polkadot – European Wrap 28 January [Video]

Cardano network activity hit a peak with a spike in transactions on the network. Charles Hoskinson, the CEO of IOHK, is awaiting the launch of Vaccuumlab’s DEX on the Cardano network. 

Decentraland (MANA) price has been on the front foot in a challenging market environment. MANA bulls look ready to eke out  28% of gains for this week after the price lifted from the 200-day Simple Moving Average (SMA) and is now set to pop and stay above the monthly S1 support level. Expect more investors to join the rally once the MANA price can consolidate above the S1 and set $2.57 later today as the price target.

This Friday, the Polkadot (DOT) price looks heavy after bulls got rejected from further upside on the monthly S1 support. With that rejection, the price is now being returned to the downside and looks to slip below $16.95 anytime now as pressure is mounting further on bulls to forfeit their positions. Expect this correction to pick up speed towards the US session and see a test of the low of this week at $16.00, in the process losing 10% of its value.

 

DOT/USD daily chart