How MANA, APE Are Impacting Investor Behavior
Metaverse’s top digital tokens have presented unimpressive price actions within the past seven days. Coinmarketcap data shows Decentraland’s MANA and ApeCoin’s APE gained only 0.80% and 1.12% within the previous week.
Contrarily, alternative tokens such as Optimism’s OP witnessed a staggering 90% price hike during that timeframe. What more should you know about MANA and APE’s performance within the phase under review?
APE’s Previous Seven Days
APE had its price action at around $6.64 a week ago. Nevertheless, the BAYC’s token took the opposite direction as most crypto assets chased new peaks within the past few days. July 26 sessions saw its plummeting to the $5.73 low.
However, bulls responded with an upside rally, pushing APE towards the $6.92 high the following two days. While publishing this blog, the altcoin traded at $6.72, a slight 1.2% increase in a week. APE’s trading volume recorded a daily peak at 794.04 million on July 28 when ApeCoin touched $6.92.
Meanwhile, trading intensity deteriorated as the price declined. The 7-day timeframe under review had the token’s volume sliding by 2%.
The daily price chart housed ApeCoin’s RSI (Relative Strength Index) beyond the neutral-50 area, albeit it exhibited downtrends. Investor sentiment might remain gleaned, considering the decline in buying momentum for APE coins within the last seven days.
Meanwhile, the altcoin’s on-chain performance over the same timeframe highlighted profit-booking by investors. Santiment’s data confirmed APE’s exchange supply at 49.5 million. Furthermore, the metric has seen upswings within the last seven days. These spikes usually indicate a surge in near-term selling momentum.
MANA’s Previous Seven Days
MANA traded near $0.99 a week ago. Meanwhile, the altcoin gained 0.80% within the seven days, changing hands at $1.02 during this publication. That timeframe witnessed the Metaverse token sliding towards the $0.87 lows on July 26. Nevertheless, bulls reacted to the slump with a minor upside price rally.
MANA’s trading volume saw significant growth within the seven days, regardless of a slight price surge. This index noted a 41% increase over the week, hovering at $487.38 at this publication. Meanwhile, the daily chart shows buying momentum surged steadily but slower within the previous four days.
The Relative Strength Index maintained uptrends, reading 59.90 during this writing. MANA’s holders remain bullish as the altcoin maintains downtrends in exchange supply since June 26. The optimism comes despite the token’s slow price growth.
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