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Decentraland price analysis: MANA falls below the $3.220 mark

MANA

TL;DR Breakdown

  • Decentraland price prediction appears to be bearish.
  • The strongest resistance exists at $3.8.
  • The strongest support is available at $3.1.

The Decentraland price analysis shows that the cryptocurrency market reveals the cryptocurrency has experienced a significant decline. The price has suffered devaluation; the price dropped from the $3.220 mark after reaching $3.218 on January 5, 2022. The market remains bearish, which could lead to further declines. However, with a squeeze happening in the market, the volatility is sure to skyrocket. The current price of MANA/USD is $3.21.

MANA/USD 4-hour price analysis: Market gets tighter for Decentraland

The Decentraland price analysis has revealed market volatility following a negative trend which means the price of the cryptocurrency is unlikely to meet the volatility and experience variable change. The resistance band of the support band appears to be moving closer from each other, indicating decreasing volatility. The upper limit of the Bollinger band exists at $3.3, which acts as the strongest resistance. The lower limit of the Bollinger band limit is available at $3.1, representing the strongest support.

The resistance and support bands seem to be close, indicating a tightening market, hence, a squeeze. This may result in a volatility burst soon.

The MANA/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish trend. The market has remained bearish for the past few days, and as the volatility of the market decreases, it also strengthens the bears’ hold on the market.

Decentraland price analysis: MANA falls below the $3.220 mark 1
MANA/USD 4-hour price chart source: Trading view

The Decentraland price analysis shows that the Relative Strength Index (RSI) is 42, which means that cryptocurrency falls neither into the category of undervalued stock nor overbought stock; it simply shows no sign towards either extreme. The RSI can be seen following a straightforward, steady approach that reflects the value of the cryptocurrency slowly attaining stability as the price remains constant.

Decentraland price analysis for 1-day: MANA/USD shows bearish momentum, with bullish opportunities

The Decentreland price analysis shows market volatility following a quiet trend, not falling on the rising side or the downside. This means that MANA/USD prices will remain constant until the volatility fluctuates. The upper limit of the Bollinger band exists at $3.8, which acts as the strongest resistance. The lower limit of the Bollinger band is available at $2.9, representing the strongest support.

The support and resistance bands seem very close, indicating that the market is tight, showing a squeeze. This means that market volatility is likely to explode soon, giving bulls the opportunity to return to the market.

The MANA/USD price appears to be crossing under the Moving Average curve, indicating a strong bearish trend. The market remains bearish, with low volatility. This can only change if the volatility increases and the bulls take advantage; this may be a likely scenario for the coming days.

Decentraland price analysis: MANA falls below the $3.220 mark 2
MANA/USD 1-day price chart source: Trading view

The Decentreland price analysis shows the Relative Strength Index (RSI) to be 44, which means that the cryptocurrency does not show signs of falling into a low-value or over-bought category. RSI can be seen following a precise, stable movement that reflects a steady market trend and a slight chance of a return.

Conclusion: Trend shift possible soon

The Decentraland price analysis conclusion shows that the meme cryptocurrency’s current behavior indicates that it follows a stable bearish trend that is likely to reverse soon. MANA/USD lost a lot while its recent rise in the $3.320 mark; price reached $3.305 on January 4, 2022; however, the price has not increased since then. Instead, it keeps decreasing. However, the market being in a squeeze might favor bulls as the volatility is sure to burst sooner or later; when it does, the bulls will seize the opportunity and shift the trend.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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