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- The current price of MANA is at $0.6052 and has increased by 0.52% during the intraday trading session.
- The pair of MANA/BTC is trading at 0.0000218 BTC with an incline of 0.91% in the last 24 hours
- The price of MANA is trading above the 20-day of Exponential Moving Average.
The Decentraland is currently following the Upward trend with a steady upward momentum. Mana has gained a lot of popularity among investors. The significant growth of the MANA from the start of the financial year 2023 indicates bullish dominance. The sellers have been trying hard to bring the coin price to their desired targets.
The current price of Decentraland (MANA) stands at $0.6052, reflecting a 0.52% increase during the intraday trading session. The MANA/BTC pair is currently trading at .0000218 BTC, showing a slight increase of 0.91% over the last 24 hours. The price of MANA has hit its primary resistance at approximately $0.6466, causing weakening buying pressure. If the bullish trend continues, the price could reach the secondary resistance level of around $0.7490. Conversely, a downward trend could push the price toward the support level of around $0.5082, which, if breached, could trigger a price reversal and push the price toward the secondary support level of approximately $0.2890.
It will be much more difficult for the bears to influence the MANA market now that the currency is following an upward trend. The MANA is currently involved in an intense roller coaster ride, as seen on the daily price chart. In the past 24 hours, the coin’s volume has increased by about 44.26%. Around 0.1114 is the volume-to-market value ratio. The price of MANA is trading above the 20-day Exponential Moving Average and is still lagging behind the Daily Moving Average of 50,100,200 days.
Exploring the Technical Indicators of MANA
The technical indicator shows the following: The Relative Strength Index seems to approach neutrality. The investors have to wait for the movement of RSI may it move towards the overbought zone or it might get a reversal towards the oversold zone. As the RSI is in the oversold zone the current RSI is 48.51 which is above the average RSI of 46.45. The MACD and MACD signal have intersected giving a positive crossover.
Conclusion
The current market trend of MANA is bullish; the buyers are exerting pressure on the coin to gain some upward momentum. The current price of MANA is at $0.6052 and has increased by 0.52% during the intraday trading session. The RSI is in the oversold zone indicating sellers losing their grip.
Technical Levels-
Resistance level- $0.6466 and $0.7490
Support level- $0.5082 and $0.2890
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
