Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Service for copy trading. Our Algo automatically opens and closes trades.
The L2T Algo provides highly profitable signals with minimal risk.
24/7 cryptocurrency trading. While you sleep, we trade.
10 minute setup with substantial advantages. The manual is provided with the purchase.
79% Success rate. Our outcomes will excite you.
Up to 70 trades per month. There are more than 5 pairs available.
Monthly subscriptions begin at £58.
The price of the Decentraland token swiftly retraced to a support around the $0.4300 mark before bulls could halt the decline. However, there hasn’t been a considerable lift-off from the mentioned support level. With minimal positive movement in the ongoing session, traders hope for further price increases in this market.
Decentraland Statistics:
Current MANA Value: $0.4464
Decentraland Market Cap: $843,070,869
MANA Circulating Supply: 1,893,095,371
Decentraland Total Supply: 2,193,179,327
Decentraland CoinMarketCap Ranking: 76
Key Price Levels:
Resistance: $0.4464, $0.4500, and $0.4600
Support: $0.4400, $0.4350, and $0.4300
MANA Bulls Struggle to Keep Prices Above the $0.4311 Support
Since the past eight trading sessions, when Decentraland tried to surpass the last red set of the Guppy Multiple Moving Average (GMMA) line, bearish momentum seems to have set a new tone. Here, it could be perceived that the more recent overall downward correction has reduced momentum, allowing bears to initiate the minimal rebound off the mentioned support at the $0.4311 mark.
Nevertheless, the token’s price action hasn’t exited the bearish region because trading activities remain below the GMMA lines, placing the market within reach of a further downward correction. Likewise, the Moving Average Convergence Divergence (MACD) has started revealing that bearish influences are on the decline.
Decentraland Seeks to Extend Upside Corrections
Extending the scope of this price analysis to a MANA 4-hour price chart reveals that bulls may intend to use the downward correction as a re-entry point. A bullish price candle appeared immediately following the bearish one for the previous session, effectively snatching control from the bears and positioning the market for more upside corrections.
Decentraland now trades above three out of the green set of the GMMA, which may cause the token to gather more bullish traction. Additionally, the MACD lines are now at the initial stage of performing a bullish crossover, very close but below the equilibrium level. The last bar of the indicator here is now pale red, indicating a declining strength of downward forces. Therefore, traders can anticipate that price action may rise through the $0.4500 resistance towards the $0.4700 mark.
Trade crypto coins on AvaTrade
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
