Decentraland Price Analysis: MANA Coin May Bounceback from $0.90

Decentraland (MANA) Projects a Bullish Trend
  • MANA coin is slips below $1.17 to $0.98 on Monday’s trading session
  • The 24-hour volume in MANA coin is at 2,070,074,134 with an 39.01% decrease.
  • The MANA/BTC pair was trading at 0.00001644 BTC with a gain of 7.77%
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 $0.90. Whereas if it moves up, the key resistance level to watch is $1.17. While diving into the weekly chart of a 4-hour time-frame, it completes an spinning top candlestick pattern. It means that neither buyers nor sellers could gain the upper hand.

SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) is above SMA-50 (white) and SMA-100 (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 61, indicates a buy signal in the coin. Moreover, Investors can see a downward slope in the index from 80 to 61, it may bounce back from neutral zone in future trading sessions.

Decentraland (MANA) Projects A Bull Run

MANA coin price traded at $0.98 with a loss of 3.53% in the last 24-hour and 126.02% up in the weekly time-frame. In contrast, the market capitalization stands at $1.572 billion. Technically, investors may perceive the price is way above all the SMA’s. Moreover, the movement of price can hit above the resistance of $1.17.

Resistance: $1.17

Support: $0.90

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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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