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- 1 The MANA crypto seems like is accumulating for an enormous surge, as it shows more buyers are building strength on the level.
- 2 The RSI is taking support on 14-SMA, implying that the MANA crypto is in positive territory and could push further.
The Decentraland crypto was making higher highs and followed a parallel wedge earlier and demonstrated growth from $0.2700 to $0.6000.
MANA price met obstacles at the supply region and plunged enormously broke out of the range of the parallel upward channel, and dropped to form a support at $0.3935.
Thereafter, the Decentraland crypto has shown some gestures of comeback as the price showed some seller’s rejection spikes from a key support zone of around $0.3935 on the chart.
Furthermore, the MANA crypto asset is signifying bullish strength and upward momentum as it is above the 20 and 50-Day EMA bands.
In addition, the Decentraland crypto asset is exhibiting gains in bullish strength as the MACD indicator has formed a bullish crossover, signifying bullish strength is reviving from the current important price level. Besides, MACD is at -0.0025, the signal line is at -0.0068, and the histogram is growing upward, this is at 0.0042.
The RSI is taking support on 14-SMA, implying that the MANA crypto is in the positive territory and can push further. Meanwhile, the RSI curve is at 54 and the 14-SMA smoothened line is at 47.
Over the last three months, the price hasn’t moved big in either direction, symbolizing a lack of earlier momentum. however, the MANA asset has exhibited bullish qualities from last week as it has presented a good performance of 5.62% and this could lead the price to advance further.
The Decentraland crypto experienced a decline of 0.47% intraday, and CMP is around $0.4646. The MANA crypto seems like is accumulating for an enormous surge, as it shows more buyers are building strength on the level to boost through the resistance levels above and thrust upward to new zeniths from the current crucial support.
Therefore, if the demand for the Decentraland increases, the asset price could boost upward to retest the supply level from the current support level and in-between resistance would be $0.4950.
However, if the MANA price fails to stay above the $0.3935 level, it could decline further and reach new depths.
Summary
The technical tools of the Decentraland price highlight bullishness over the daily time frame chart. The RSI, MACD, and EMAs are giving a bullish outlook regarding the MANA price.
Moreover, the Decentraland price structure highlights a bullish view at the time of publishing, as it showed multiple sellers’ rejections and support levels strength, these characteristics signify sellers are losing the battle and buyers are gaining steam gradually.
Technical Levels
Support Levels: $0.3935
Resistance Levels: $0.4950
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.
