Decentraland Price Analysis: MANA stable at $3.24, as consolidation continues

Decentraland Price Analysis MANA stable at as consolidation continues

TL;DR Breakdown

  • Decentraland price analysis is bullish today.
  • MANA/USD hasn’t been affected by yesterday’s market sell-off.
  • Price movement has been minimal since 13th November.

The Decentraland Price analysis dictates the token is getting mixed market sentiment today. The MANA/USD appears to be consolidating from 13th November, as the price movements are small, as compared to the pre 13th November swings high and low. MANA/USD does not seem to be affected by yesterday’s market sell-off when most major coins suffered significantly, but MANA maintained well. A wild low swing was observed yesterday when the price went down to $2.73 for a few minutes but recovered soon.

MANA has gained tremendous value after breaking out of its shell on 28th October while swinging as high as $4.98 on 30th October.

MANA/USD 1-day price chart: MANA receives mixed market sentiment

The 1-day Decentraland price analysis shows the price movement is slightly upwards till now, but there exist chances for a retracement as well, as overall the market is bearish, but the MANA is still in bullish form. The token is trading at $3.24 at the time of writing, gaining more than eight percent value during the last 24 hours and 16.50 percent value over the past week. Trading volume has also increased by 98 percent resulting in the market dominance of 0.23 percent.

Decentraland Price Analysis: MANA stable at $3.24, as consolidation continues 1
MANA/USD 1-day price chart. Source: TradingView

The volatility is decreasing for the MANA/USD pair as the Bollinger bands, after ballooning up from 28th October, are now converging, with the upper band at the $3.7 mark representing resistance and the lower band is at the $1.99 mark. The average of the indicator at the $2.8 mark represents support for MANA.

The relative strength index (RSI) continues to trade near the oversold region at index 67. The RSI follows a straight curve line giving no clear signal but shows less room for further upwards movement. The moving average (MA) is trading below the price level at the $3 mark.

Decentraland price analysis: Recent developments and further technical indications

The 4-hour Decentraland price analysis shows that the price breakup was upwards at the start of today’s session, but the increase was nominal to the extent of almost negligible. The last candlestick is red, indicating a decrease in price, but the price oscillation continues to be slow.

Decentraland Price Analysis: MANA stable at $3.24, as consolidation continues 2
MANA/USD 4-hour price chart. Source: TradingView

The volatility is mild for MANA on the 4-hour chart, and the price is trading just above the mean average of the Bollinger bands, which represents support for the MANA price at the $3.22 mark. The moving average is also below the price level at $3.18, and the RSI is in the upper half of the neutral zone at index 52. The RSI on the 4-hour chart is also trading at a straight line indicating equal buying and selling activity in the market.

Overall the technical indications for MANA/USD pair are towards the bullish side, as the token after rising high has not depreciated much and is maintaining the high price successfully.

Decentraland Price Analysis: Conclusion

Decentraland price analysis is slightly bullish today as still the price inclination is upwards, but as the 4-hour chart shows, a reversal is also possible. However, the price oscillation is expected to remain low as MANA is still consolidating before rallying further high.

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.

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