- WhaleStats shared that MANA is now the most held altcoin amongst top 2,000 ETH whales.
- The price of stETH has fallen over the last 24 hours.
- MANA’s price is now looking to challenge the daily 20 EMA level.
The crypto whale tracking site, WhaleStats (@WhaleStats), shared in a tweet this morning that Decentraland’s MANA has flipped Lido Staked ETH (stETH) for biggest holding in dollars among the top 2,000 ETH whales.
stETH is currently trading at $1,237.87 at press time after its price dropped 1.41% over the last 24 hours. This is according to the crypto market tracking website, CoinMarketCap. In addition, stETH has weakened against Bitcoin (BTC) by 1.73% and has strengthened against Ethereum (ETH) by 0.28%.
Meanwhile, MANA is trading at $0.413 after a slight 0.06% 24-hour gain. The altcoin has weakened against BTC by 0.29% and strengthened against ETH by 1.64% over the same time period.
The price of MANA is currently being held down by the daily 20 EMA line at around $0.4260. This is also the upper bound of the parallel price channel that MANA has been trading in for the last 2 weeks. The lower bound for the price channel sits at $0.368.
Currently, the daily Relative Strength Index (RSI) line is positioned above the daily RSI Standard Moving Average (SMA) line, which is a bullish flag that could result in MANA’s price breaking above the current resistance level.
A break above the resistance level would see MANA’s price rise to $0.4632, constituting a 12.1% gain. On the other hand, if the resistance level holds its own, then the price of MANA could retrace to as low as the lower bound of the current price channel.
A confirmation of the bullish move will be if MANA is able to close above the daily 20 EMA line by the end of tomorrow’s trading session.
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