03 October 2022 : 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 -1.34 percent, bringing the entire cryptocurrency market to $942,458,512,284. The total trading volume stands at $55,235,219,316. Bitcoin shares 39.8 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,557.65 level after an upward movement of 1.84%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.18 percent reaching to $1,325.92 during the previous 24 hours.
While publishing this blog, BNB traded at $288.29, following a price change of 1.74% within the same time frame. XRP the native coin of XRP is down by -0.44 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.54% 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||$0.72||Support Level 1||$0.67|
|Resistance Level 2||$0.75||Support Level 2||$0.65|
|Resistance Level 3||$0.78||Support Level 3||$0.62|
The price of Decentraland (MANA) is at $0.69, up 0.18% in the past 24-hours and has a price change of -1% over the week. One day trading volume for BTC is 97,489,255.00 USD while total marketcap reached $1,285,420,972.00 USD. There are almost 1,855,084,192 are in circulation out of 2193539027.
MANA price analysis for 03 October 2022 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)||0.70||Sell|
|Exponential Moving Average (10)||0.70||Sell|
|Simple Moving Average (20)||0.71||Sell|
|Exponential Moving Average (20)||0.71||Sell|
|Simple Moving Average (50)||0.79||Sell|
|Exponential Moving Average (50)||0.79||Sell|
The MANA/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. The Relative strength index (RSI) for MANA Coin is currently hovering at 47 for 14-days average line, which means MANA is in consolidation zone right now. In accordance with the conventional pivot, the crucial immediate resistance for MANA may be found at $0.72, followed by $0.75. In the meantime, the cryptocurrency's support levels were located at $0.67 and then $0.65. While MANA’s Williams %R indicator is at -67.376 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.
From the technical analysis, the overall trend of the Decentraland is still bearish; however, the price action might shows an attempt a bullish reversal with its bullish engulfing candle pattern. Therefore, if MANA manages to stay above $0.67, it can provide an excellent long opportunity for MANA communnity.