- Decentraland Price jumped 8% due to Apple’s Metaverse headset.
- MANA Price defends $0.4500 support and takes a U-turn.
- Metaverse Projects like Decentraland and Sandbox price seem to be turning bullish.
Decentraland Price jumped more than 8% approx after Apple’s Metaverse headset launch date was revealed. According to a report, Mark Gurhman (Apple Product expert) – Tech giant Apple new headset is scheduled for release on June 5. This news positively impacted the prices of Metaverse projects like Decentraland and Sandbox.
MANA Price took support near to the demand zone and bounced back which showed the signs of bullish trend reversal. However, the confirmation of trend reversal will come when buyers succeed to push the price above both the EMAs.
Presently, MANA crypto price is below the 200 day EMA shows positional trend is still in bear grip. However, buyers seem aggressive and trying to sustain the price near the 50 day EMA.
Decentraland Price is currently trading at $0.5201 with an intraday rise of 7.59%. The 24 hour volume to market cap ratio is 0.1143. The pair of MANA/BTC is trading at 0.00001926 with an intraday rise of 7.66%.
The price chart of MANA with the BTC pair takes a U-turn from the yearly lows. It indicates buyers are active in both the pairs and bulls are returning back to track. At the mid of April, MANA Price tried to break out of the swing high hurdle at $0.7000. Sadly the attempt failed and it ended up as a trap for the bulls.
Decentraland Price prepare for next phase of rally.
Decentraland Price corrected 37% approx from the swing high and eroded the gains of past few months. Recently, the downfall halted and price took support near $0.432. Slowly prices begin to rise and the recovery is still continuing.
If the rally continues and buyers succeed to push the price above $0.7000 then the next phase of the rally may begin. However, if MANA Price gets rejection from the EMAs then bears may try to erode the intraday gains. The technical analysis suggests the Decetraland Price is in the initial phase of trend reversal and more up-move is possible.
MANA Price on weekly time frame
MANA Price formed a bullish engulfing pattern on a weekly time frame. It shows MANA crypto is turning bullish on multiple time frames which increases the probability of more upward momentum.
The technical indicators like MACD have generated a fresh positive crossover and histogram bar is on rise. It indicates bullish momentum may continue and buyers are returning back to track. The RSI at 51 sloping upward denotes neutral territory as well the strength of bulls and more room for upside is open.
Conclusion
Decentraland Price jumped 8% after Apple’s Metaverse headset launch date was revealed. MANA price reacted positively and showed the initial signs of trend reversal. However, the confirmation is still awaited. The technical analysis says, Decentraland Price is in bulls grip and more upward momentum is possible.
Technical levels
Resistance levels : $0.7000 and $0.8428
Support levels : $0.4000 and $0.3000
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.