Decentraland Price Prediction: MANA Inside an Interesting Channel

• 1 Decentraland price prediction shows the consolidation phase of MANA crypto over the daily time frame chart.
• 2 MANA crypto is trading below 20, 50, 100 and 200-days daily moving averages.
• 3 Decentraland cryptocurrency declined around 3.51% year to date.

Decentraland price prediction highlights the consolidation phase of MANA crypto inside an interesting range over the daily chart. Meanwhile, buyers are trying to push MANA crypto towards the upper price range of the consolidation phase. However, today sellers are also trying to pull MANA down which may lead MANA to lower trendline of the consolidation phase.

Decnetraland crypto has been consolidating inside the horizontal range-bound area since August 2023. Buyers need to come forward for the rescue of MANA crypto during the day’s trading session.

Decentraland price was at $0.2863 and lost 0.69% of its market capitalization intraday. Trading volume increased by 42% during the intraday trading session demonstrating that buyers are still present in the trade to push MANA upwards. Volume to market cap ratio was at 6.37%.

Will Decentraland Price Leave the Range?

Source: MANA/USD by TradingView

Decentraland price prediction showcases the consolidation phase of MANA crypto over the daily time frame chart. MANA crypto price has been consolidating inside the horizontal price range of $0.2721 and $0.3265. Buyers need to maintain their accumulation rate in order to push MANA upwards. However, volume change can be seen below average and needs to grow during intraday trading sessions. Meanwhile, MANA crypto is trading below 20, 50, 100 and 200-days daily moving averages.

Decentraland price has displayed mixed performance across different time frames. In the past week, it saw a modest 1.78% increase, but over the last month, it recorded a 5.07% decrease. However, over three months, MANA price saw a 28.43% drop, which extended to a substantial 53.51% decline over six months. Looking at the year-to-date performance, MANA crypto price slipped by about 3.51%, highlighting performance challenges throughout the year.

Technical indicators reveal Decentraland cryptocurrency’s ongoing downtrend, which aligns with the prevailing market sentiment. The relative strength index (RSI) currently stands at 43, indicating a bearish trend, and it’s moving closer to the oversold territory. Investors in Decentraland cryptocurrency should maintain patience as they monitor potential opportunities for an upturn, especially when MANA’s price approaches the upper limit of its consolidation phase.

Summary

Decentraland price prediction highlights the consolidation phase of MANA crypto inside an interesting range over the daily chart. Decnetraland crypto has been consolidating inside the horizontal range-bound area since August 2023. However, volume change is below average and needs to grow intraday. Technical indicators reveal Decentraland cryptocurrency’s ongoing downtrend, which aligns with the prevailing market sentiment.

Technical Levels

Support Levels: $0.2810 and $0.2720

Resistance Levels: $0.3011 and $0.3265

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

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