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- 1 Decentraland crypto’s price faces resistance and decreased by 20.64% over the last three months.
- 2 The price of the MANA crypto is trading at $0.2723 and the 52-week range is $0.2676 – $0.8426
Decentraland is related to Polygon, a Layer-2 scaling solution for Ethereum since it is one of the projects that uses it. Decentraland has also joined forces with Borroe Finance, a decentralized lending protocol, to provide loans and interest to its users. These developments can help Decentraland and Polygon improve their user adoption, network performance, and innovation.
Decentraland (MANA) open interest is $23.23 Million, as per Coinglass, which is a crypto analysis website, it fell by 0.60% in the previous session. The long versus short ratio for 24 hours is 0.8464. The total number of short positions added in the last 24 hours is $6.16 K against longs of $168.99 K.
Decentraland crypto plummeted by 4.66% in market value and surged by 76.16% in trading volume in the last 24 hours, per Coinmarketcap which is a crypto data and info website. Its market value is $516,354,435 and its trading volume is $42,847,957. There are 1,893,095,371 MANA in circulation.
Technical Analysis Of MANA Crypto in the 1-Day Timeframe
The MANA crypto price has been dropping for half a year by 55.54%, losing its value and creating lower highs and lows and descending.
The MANA crypto price is under a lot of selling pressure and falling every day. The bulls are losing and the price is not able to bounce back and follow trendline resistance. The 50.00% fibo level or $50 was broken in April 2023 and declined significantly.
The MANA crypto price may continue to fall and reach or break the support levels of $0.2700 and $0.2680 if it does not hold the current level and drops more.
On the contrary, if the price stays at the CMP level and breaks above the trendline, then it may reach the nearest target resistance levels of $0.3200 and $0.3500.
At the time of publishing, Decentraland (MANA) is trading below 20, and 50 EMA, showing bearishness on daily charts. The RSI is around 27 that turned bearish and MACD indicates bearishness to consolidation. Collectively, the indicators view is consolidation to bearish.
Conclusion
The MANA crypto price prediction shows a neutral to negative outlook and a lack of confidence from investors and traders in the daily time frame. Decentraland price action reveals a downward trend at the time of writing. Moreover, the daily chart shows that the price will keep going down, according to the most trusted and widely used technical tools such as RSI, EMA, and MACD.
Technical Levels:
- Support levels: The nearest support levels are $0.2700 and $0.2680
- Resistance levels: The nearest resistance levels are $0.3200 and $0.3500
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.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
