10 June 2023 : In this article we will walk you through Decentraland price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Decentraland, Is MANA a good investment? Decentraland support & resistance levels etc. But before diving deep into the MANA technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,043,558,746,616. The total trading volume stands at $48,604,951,073. Bitcoin shares 47.7 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $25,666.97 level after a decline of -3.56%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -5.54 percent reaching to $1,743.86 during the previous 24 hours.
While publishing this blog, BNB traded at $236.16, following a price change of -9.83%within the same time frame. XRP the native coin of XRP is down by -7.86 and currently trading at $0.49. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Decentraland (MANA)
|MANA Resistance Levels||MANA Support Levels|
|Resistance Level 1||$0.67||Support Level 1||$0.60|
|Resistance Level 2||$0.70||Support Level 2||$0.55|
|Resistance Level 3||$0.75||Support Level 3||$0.52|
The price of Decentraland (MANA) is at $0.33, down -20.4% in the past 24-hours and has a price change of -31.2% over the week. One day trading volume for BTC is 122,405,843.00 USD while total marketcap reached $628,428,267.00 USD. There are almost 1,878,271,532 are in circulation out of 2193179327.
MANA price analysis for 10 June 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Decentraland.
|Simple Moving Average (10)||0.65||Sell|
|Exponential Moving Average (10)||0.65||Sell|
|Simple Moving Average (20)||0.67||Sell|
|Exponential Moving Average (20)||0.67||Sell|
|Simple Moving Average (50)||0.72||Sell|
|Exponential Moving Average (50)||0.72||Sell|
RSI implying oversold phase while trading at 25 and is trying to break out of the bearish zone while highlighting massive bearish strength. The Decentraland has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take MANA price below the crucial support level of $0.60. The MACD line is standing below of the signal line after a crossover. Decentraland investors need to wait for any directional change over the daily chart. While MANA’s Williams %R indicator is at -50.039 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.
The Decentraland market is shown signs of being bearish, and sellers have the potential to drive prices of the cryptocurrency lower in the next few days. Alternatively, The price of MANA might try to break above its resistance level of $0.67. For now the coin is showing negative trend.