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Decentraland Price Analysis: MANA Coin Framing Lower Lows On Daily Chart

  • MANA coin price drops below the 200-MA of $0.63 on intraday session
  • MANA/BTC pair is trading positive by 4.3% at 0.00001616 BTC
  • The 24-hour trading volume in MANA is $51.483 Million

The daily technical chart of the MANA coin predicts a bearish movement. Based on the pivot point, the key support level for MANA is $0.40. However, if it moves higher, the key resistance to be aware of is $0.62. Besides, the chart also determines a bearish engulfing candle, showing a downward trend with high reliability.

Moving average (MA) formed of 50,100,200-MA can be substantial support for currency price changes. In addition, investors can observe that the price is below the yellow line, ensuring a downward trend in MANA until the price stays below the MA-200.

CCI indicator gave a (neutral) signal with -20, projecting a flat trend in the coin. As a result, investors may observe a flat slope in the index. It may plunge in future trading sessions.

Volume of (11.20M) is displayed close to the 20-day MA (13.99M). It represents high selling pressure that pushes the price level to drop to a lower area. Investors may also observe a decline in volume on the chart, which indicates that a big move is expected soon.

The Decentraland (MANA) Coin May Drop 10% From The CMP

The price of the MANA Coin is $0.54, with a daily gain of 1.6% and a weekly surge of 8.4%. In addition, the market value is $725 Million. Technically, the price shows weakness and is below 200-MA. CCI shows a sell signal. The volume is around 20 MA. In addition, the price may drop in future trading sessions.

Resistance: $0.62

Support: $0.40

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Nikhil Ingole: Mr, Nikhil Ingole is a Chief Editor at The Market periodical with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. 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.