- The trading volume of the Decentraland token in the last 24hr at the time of writing this article is +93%
- The Price of MANA/BTC and MANA/ETH at the time of writing this article is 0.00001254 BTC and 0.0001937 ETH, respectively
- Price near the Resistance made a Doji
LONG TERM VIEW:-
In the daily time interval, we can see that the price is near the Resistance. The bears are not letting the bulls push the price above it. Let’s look at the technical indicator to see if the price will break the Resistance or not. Firstly, we can see the MACD, which shows green histograms as the MACD line is above the signal line, and there is no sign that the lines will change their direction soon.
In addition to that, we can see the RSI is in the neutral zone near 54, and the RSI line is pointing sideways, which means that the bulls and bears are giving each other a good fight. Lastly, we can see the Moving average as the 20MA is below the 100MA and 50MA, but the 20MA is heading towards the 100MA line and may cross it soon. On the other hand, the 50MA is above the 100MA, heading towards the 100MA, and may cross it soon.
SHORT TERM VIEW:-
In the 4hr time interval, we can see that the price made a Doji near the Resistance, and now the price is heading bearish. The MACD shows green histograms as the MACD line is above the signal line, and there is no sign that the lines will change their direction soon. In addition to that, we can see the RSI is in the neutral zone near 68, and the RSI line is pointing towards the oversold zone of 30, meaning the bears are winning the fight against the bulls and the RSI line was not able to break the 70 lines and changed the path from there. Lastly, we can see the Moving average as the 20MA is above the 50MA, but both the 20MA and 50MA are below the 100MA.
CONCLUSION:-
Looking at both the long term and short term, we can see the price is near the Resistance but cannot break it as the bears are taking control of the price. The price may fall to the support from there. The bulls can again try to push the price up to the Resistance. The MACD in both the long term and short term shows green histograms as the trend has just started. The MACD will change soon.
RESISTANCE:-$0.86089,$0.95386
SUPPORT:- $0.75334,$0.7100