- Decentraland Price is up by 9% approx on a monthly basis.
- MANA price holds the 50 day EMA and attempts to break the 200 day EMA.
- MANA crypto prepares for $1.00 in the next phase of the rally.
Decentraland Price Prediction suggests a rise in the long term and investors seem to be confident about the future of MANA crypto. Decentraland price gained 9% approx in the current month and managed to climb above the 50 day EMA. It shows that the short term trend is working in the favor of bulls. However, if MANA price succeed to break the 200 day EMA then the positional trend will also turn in the upward direction.
MANA price has defended its previous breakout level of $0.5000 and showed a decent bounce from the lower levels. It indicates responsive buyers are active at lower levels and $0.5000 will act as a support zone in the coming months.
Decentraland Price (MANA) is trading at $0.6423 with an intraday rise of 0.56%. The 24 hour volume to market cap ratio is 0.0664. The pair of MANA/BTC is trading at 0.00002115 with an intraday rise of 0.28%. At the beginning of March, MANA price slipped below the important support of $0.6000 which has disturbed the sentiment of the investors.
Later, prices began to decline by forming lower lows and bears attempted to break down the $0.5000 level. Luckily, At the mid of March, the global market sentiment improved and positively impacted the majority of Altcoin. MANA token is one of them.
Decentraland Price defends $0.5000 breakout level
Decentraland Price formed a bullish hammer candle near $0.5000 demand zone which showed the initial signs of a bullish trend reversal. Later, MANA price recovered 30% approx from the swing low but prices lost the momentum near the $200 day EMA.
MANA price consolidated for a few weeks in the narrow range and showing signs of the base formation. The technical analysis suggests, MANA price is in bulls grip and if it succeeds to break the $0.7000 level, it might begin the rally to reach $1.00.
MANA Price: Technical Outlook
MANA price had performed well in the past couple of months and up by 126% approx from its 52 week low at $0.2875. However, the profit booking is also visible from the supply zone.
The technical indicators like MACD had generated a positive crossover and the histogram bar is on rise. It indicates buyers are returning back to the track and bullish momentum might continue in coming months. The RSI at 59 denotes strength of bulls and more room for upside is open.
Conclusion
Decentraland Price gained 9% approx on a monthly basis. MANA price defends the $0.5000 support and showed a decent recovery indicates responsive buyers active at lower levels. The technical analysis suggests, If MANA price succeed to break the $0.7000 level then the possibility of reaching $1.00 mark will increase.
Technical levels
Resistance levels : $0.7000 and $0.8500
Support levels : $0.5000 and $0.4000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.