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Decentraland price analysis: MANA regains value at $1.8 after market breaks

MANA

TL;DR Breakdown

  • Decentraland price analysis is bearish today.
  • The strongest resistance exists at $2.3.
  • The strongest support is available at $1.7.

The Decentraland price analysis shows that the cryptocurrency market had experienced a significant increasing movement just before the price suffered devaluation; the price dropped from the $1.9 mark and reached $1.8 on April 27, 2022. The market remains bearish, which could lead to further decreases. However, the volatility may skyrocket soon, which means it will be anyone’s game. The current price of MANA/USD is $1.8. MANA has been down 1.69% in the last 24 hours, with a trading volume of $265,231,205 and a live market cap of $3,416,705,781. MANA currently ranks #37 in the cryptocurrency ranking.

MANA/USD 4-hour price analysis: Recent developments

The Decentraland price analysis has revealed market volatility following a positive trend which means the cryptocurrency’s price is likely to meet the volatility and experience variable change. The resistance band of the support band appears to be moving away from each other, indicating increasing volatility. The upper limit of the Bollinger band exists at $2, which acts as the strongest resistance for MANA. The lower limit of the Bollinger band limit is available at $1.7, representing the strongest support for MANA.

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 hours, and as the volatility of the market increases, it also fuels bullish opportunities.

Decentraland price analysis: MANA regains value at $1.8 after market breaks 1
MANA/USD 4-hour price chart source: TradingView

The Decentraland price analysis shows that the Relative Strength Index (RSI) is 37, which means that cryptocurrency falls into the category of undervalued stock; it simply shows signs towards the negative extreme and falls in the undervalued region. Instead, the RSI can be seen following a slight upwards approach that reflects the value of the cryptocurrency slowly increasing and the dominance of buying activity.

Decentraland price analysis for 1-day: Market breaks

The Decentraland price analysis shows market volatility following a decreasing trend, falling on the rising side. This means that MANA/USD prices will become less susceptible to volatility surges. The upper limit of the Bollinger band exists at $2.3, which acts as the strongest resistance for MANA. Conversely, the lower limit of the Bollinger band is available at $1.8, representing the strongest support for MANA.

The support and resistance bands seem very close, indicating that the market is tight. Unfortunately, this means that market volatility is likely to explode soon, allowing bears to return to the market.

The MANA/USD price appears to be crossing over the Moving Average curve, indicating a strong bullish trend. However, the market remains bearish, with low volatility. This can only change if the volatility increases and the bulls take advantage.

Decentraland price analysis: MANA regains value at $1.8 after market breaks 2
MANA/USD 1-day price chart source: TradingView

The Decentraland price analysis shows the Relative Strength Index (RSI) to be 32, which means that the cryptocurrency shows signs of falling into the low-value category. Instead, RSI can be seen following a slight increasing movement that reflects an expanding market and dominant buying activity.

Decetraland Price Analysis Conclusion

The Decentraland price analysis conclusion shows that the cryptocurrency’s current behavior indicates that it follows a shaky bearish trend that is likely to reverse soon. MANA/USD lost a lot after its recent rise below the $1.9 mark; the price reached $1.88 on April 27, 2022; however, the price has not increased since then. Instead, it keeps decreasing. The bears currently control the market, but the bulls show strong reversal possibilities.

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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