MATIC, Decentraland, GALA Price Analysis: 22 February

ambcrypto.com:

While the overall sentiment worsened in the last 24 hours, MATIC, Decentraland and GALA revealed oversold readings on their 4-hour RSI. MANA still needed to challenge the $2.6-mark before confronting its supply zone while MATIC struggled to gather thrust to overturn the $1.5-zone.

Source: TradingView, MATIC/USDT

After attaining its ATH on 27 December at $2.92, MATIC fell to register a 54.24% decline and hit its three-month low on 24 January. But MATIC bulls quickly stepped in as it saw a 61.9% ROI until 10 February.

However, since then, the bears took over while bulls failed to defend the $1.8-level, followed by the vital Point of control (POC, red) in the $1.5-zone. This zone also coincided with the 61.8% Fibonacci support. As the $1.3-support stood sturdy, any bullish comebacks would find a testing point near its POC.

At press time, MATIC was trading at $1.39. The RSI steeply plunged toward the oversold region. Any recovery from here would find a ceiling at 37 for testing. Furthermore, the CMF favored the sellers while displaying some revival signs.

Source: TradingView, MANA/USDT

Since touching its 11-week low on 22 January, the alt saw a staggering 107.4% ROI until 9 February. Then, MANA witnessed an up-channel (yellow) breakdown that pierced through crucial price points.

The alt saw two down-channels on its 4-hour chart in the last 12 days. The recent down-channel breakout reversed from the 50 EMA (cyan), affirming the bearish edge. Moreover, the bearish engulfing candlestick created a strong supply zone in the $2.7-$2.9 range. MANA lost more than 15% over the past day while the bulls ensured the $2.4-support. Any comebacks would find resistance at the $2.4-mark, followed by the supply zone. 

At press time, MANA traded at