Decentraland Price Analysis: MANA Coin May Hit $0.80

MANA Technical Analysis
  • MANA coin is trading at $0.68 on Saturday’s trading session
  • The 24-hour volume in MANA coin is at $910,719,896 with an 81.32% increase.
  • The MANA/BTC pair was trading at 0.00001259 BTC with a gain of 22.19%
Source:MANA/USD on TradingView

The 4-hour technical chart of MANA coin projects an uptrend. According to pivot points, MANA’s critical support level is placed at $0.47. Whereas if it moves up, the key resistance level to watch is $0.75. While diving into the weekly chart of a 4-hour time-frame, it completes an inverted hammer candlestick pattern. The body of which is found after a downtrend and is usually taken to be a trend-reversal signal.

SMA-50, 100 & 200 acts as another strong support in the coin. SMA-50 (purple) is above SMA-100 (white) and SMA-200 (red), which projects a bullish trend. The price is way above all the SMA. Investors may perceive a positive crossover in the chart, the price will also follow the positive trend.

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RSI indicator (BULLISH), with a value of 67, indicates a buy signal in the coin. Moreover, Investors can see an upward slope in the index from 60 to 67, it may soar in future trading sessions.

Bulls In Favour Of MANA Coin

MANA coin price traded at $0.68 with a gain of 22% in the last 24-hour and 96.86% up in the weekly time-frame. In contrast, the market capitalization stands at $1.124 billion. Technically, investors may perceive the price is way above all the SMA’s. Moreover, the movement of price can be above the resistance of $0.75.

Resistance: $0.75

Support: $0.47

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Nikhil Ingole
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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