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- 1 The Decentraland crypto’s price faces resistance from the trendline, which decreased by 20.47% over the last month.
- 2 The price of the MANA crypto is trading at $0.2935 and the 52-week range is $0.2749 – $0.8426.
MANA crypto surged by 0.51% in market value and surged by 1.12% in trading volume in the last 24 hours, as per CoinMarketCap, a crypto data analysis website. Its market value is $555,527,061 and its trading volume is $33,127,645. There are currently 1,893,095,371 MANA in circulation.
According to a recent update from a community Landindex.io on Coinmarketcap a crypto data analysis website, Decentraland and its token MANA have a lot of potential in the metaverse industry. Decentraland is a leading and creative virtual world, where users can build, discover, and profit from their own content and experiences. Decentraland has made much progress recently, such as the Smart Wearables feature, the Atari and Binance partnerships, and the Worlds launch. Decentraland is likely to keep growing and drawing more users and investors, as it gives a unique and immersive way to interact with the blockchain and the metaverse.
Technical Analysis in the 1-Day Timeframe
MANA crypto price showed a downward trend for the past six months, decreasing by 30.96% during this period and the price fell, making lower lows and highs.
At the time of publication, the MANA crypto price had faced tremendous selling pressure and fell like a meteor, and bearishness is displayed over the charts. The Most important Fibo level 50.00% was breached by April 21st, 2023, and declining. Overall, the bears are strong and the price is unable to reestablish the bulls’ control.
Therefore, MANA crypto price could resume its downward strength and reach the supports of $0.2751 and $0.2749, if it fails to maintain the current level it might fall beyond.
However, if the price sustains at the CMP level and ascends by breaking the opposing trendline, then it might hit the nearest target resistance levels of $0.3204 and $0.3885.
At the time of publishing, MANA crypto price is trading below the 20 and 50-day exponential moving averages, opposing the MANA crypto price trend.
The MACD line, currently at 0.0156, and the signal line, at 0.0170, are positioned below the zero line, Both lines have intertwined and the gap is slim indicating consolidation in price as noticed in the MACD oscillator. The present value of the relative strength index (RSI) stands at 34.08 points, while the 14-day simple moving average (SMA) is positioned below the median line at 32.52 points. These indicators combined together suggest neutral to bearish sentiments.
Conclusion
MANA crypto price prediction indicates the neutral to bearish sentiments and perspectives of investors and traders regarding the crypto in the daily time frame. Decentraland price action highlights a consolidation to a negative outlook at the time of publishing. Moreover, the most sought and reliable technical oscillators like RSI, EMA, and MACD suggest the continuation of neutrality over the daily time frame chart regarding the price.
Technical Levels:
- Support levels: The nearest support levels are $0.2751 and $0.2749.
- Resistance levels: The nearest resistance levels are 0.3204 and $0.3885.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
