Cardano, Floki Inu and Decentraland – European Wrap 23 November

Cardano (ADA) price has been under bearish pressure as price action started to slip to the downside around November 11. Since then, ADA price has formed a bearish triangle with the base at $1.67 and the descending trend line providing systemic resistance and persistent bearish price action. Expect the triangle to be completed this week with a break to the downside, holding another 25% potential devaluation in Cardano price towards $1.30.

Floki Inu price is undergoing a pullback after failing to clear a crucial resistance barrier. This downswing will push the meme coin into a vital demand zone that could trigger a new uptrend’s start.


FLOKI/USDT 4-hour chart

Decentraland and other metaverse tokens have seen massive growth due to the recent rebranding of Facebook. These tokens are showing strength despite the overall market showing a sightly bearish outlook. MANA, on the other hand, shows signs that a short-term upswing is likely. From a fundamental perspective, it also stands to capture a massive share of the metaverse market.

MANA/USDT 4-hour chart





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