Decentraland (MANA) Is Pushing Through Resistance

The Decentraland token has recorded an additional price increase of 8.34%. This reveals that investors have been reasonably interested in the market. The token’s price chart also suggests future price increases.

MANA Statistics

Decentraland Current Price: $0.2822

Market Capitalization: $553.04M

Circulating Supply: 1.94B

Total Supply: 2.19B

CoinMarketCap Rank: 98

Key Price Levels

Resistance: $0.3000, $0.3500, $0.4000

Support: $0.2800, $0.2500, $0.2000

MANA Bulls Are Feeling the Heat but Remain in Control

The Decentraland token has climbed higher since it began retracing upward. Price activity in this market rebounded after hitting support at the $0.2000 level. As a result, price action has risen past the 20-day and 50-day Moving Average (MA) lines.

The latest price candle stands just above the 50-day MA line. This candle appears compressed downward and has an upper shadow. The Stochastic Rate of Change (ROC) indicator is positioned below the equilibrium level but appears slightly tilted upward, indicating the ongoing upward retracement in the market.

Decentraland Hits a Strong Wall at the $0.3000 Mark.

On the 4-hour price chart, MANA’s price activity has steadily risen toward higher levels. However, it soon hit resistance around the $0.3000 mark. The last candle on this chart is red, showing a downward rebound. It also has a narrow body and a long upper shadow, indicating selling pressure at that level.

Nonetheless, trading activity remains above all Moving Average (MA) lines, which supports the continuation of the broader upward trend. Consequently, it may soon occur that the market breaches the resistance at the $0.3000 level and targets the $0.3500 price level next.

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