- Decentraland (MANA) price has broken a downsloping trendline during a high-low formation.
- Despite the downtrend, MANA investors are managing the coin price well above the green signal line of the Supertrend indicator.
- There is only a cost of $0.23 left for the MANA token to reach the conceptual round level of $1.0.
For a longer-term perspective, Decentraland’s token MANA remains bearish. Despite the higher-low formation, the MANA token broke the previous swing high of the $0.938 mark.
Thus, at the time of writing, the MANA token is trading with a higher momentum at the $0.881 mark in an intraday trading session.
In terms of the 4-hours price graph, the MANA token formed a high-low pattern and declined several times near the $0.74 to $0.77 area, providing a hedge zone for MANA investors. On the other hand, MANA price is heading towards the latest resistance at the $0.92 mark before reaching the conceptual round of the $1.0 area.
Decentraland (MANA) token shows stability in the green zone since last week. Similarly, buyers got a gain of around 7% this week. Meanwhile, the market cap manages to exceed $1.6 billion according to CMC data, with gains of over 8% in the past 24 hours.
Weekly price candle against USDT pair forms inside candle, above this high bulls could target a crucial round level level of $1.0 but on the other hand, if bulls fail to manage MANA price above weekly low , then the price may decline to 90-day lows. Furthermore, the bitcoin pair with MANA price is up 6.5% at 0.0000428 satoshis.
MANA price hit 20 EMA
Although MANA investors are managing the coin price well above the green signal line of the Supertrend indicator, the 20 EMA has recently acted as a resistance zone for the bulls.
The daily RSI indicator is moving to a semi-line (50-mark) after 45 days.
Conclusion
Decentraland (MANA) token is nearing bullish barriers such as a bearish trend line and the 20 EMA. If the bulls break this area, the $1.0 conceptual round level will be the first stop for the bulls.
Technical Levels
Resistance level- $1.0 and $1.3
Support level- $0.74 and $0.63
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.