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Decentraland price analysis: MANA/USD expects declining possibilities at $2.7

MANA

TL;DR Breakdown

  • Decentraland price analysis is bullish today.
  • The strongest resistance exists at $3.5.
  • The strongest support is available at $32.3.

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 $2.8 mark and reached $2.7 on February 26, 2022. The market remains bullish, which could lead to further increases. However, the volatility is sure to skyrocket soon, which means it will be anyone’s game. The current price of MANA/USD is $2.7. MANA has been up 3.46% in the last 24 hours, with a trading volume of $1,034,191,130 and a live market cap of $4,964,200,707. MANA currently ranks #30 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 decreasing volatility. The upper limit of the Bollinger band exists at $2.8, which acts as the strongest resistance for MANA. The lower limit of the Bollinger band limit is available at $2.5, representing the strongest support for MANA.

The MANA/USD price appears to be crossing over the curve of the Moving Average, indicating a bullish trend. The market has remained bullish for the past few hours, and as the volatility of the market increases, it also fuels bearish opportunities.

Decentraland price analysis: MANA/USD expects declining possibilities at $2.7 1
MANA/USD 4-hour price chart source: TradingView

The Decentraland price analysis shows that the Relative Strength Index (RSI) is 53, which means that cryptocurrency falls neither into the category of undervalued stock nor overbought stock; it simply shows no sign towards either extreme and falls in the upper neutral region. Instead, the RSI can be seen following a downward approach that reflects the value of the cryptocurrency slowly declining.

Decentraland price analysis for 1-day: Market enters bullish dominion

The Decentraland 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 $3.5, which acts as the strongest resistance for MANA. Conversely, the lower limit of the Bollinger band is available at $2.3, 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. The market remains bullish, with low volatility. This can only change if the volatility increases and the bears take advantage.

Decentraland price analysis: MANA/USD expects declining possibilities at $2.7 2
MANA/USD 1-day price chart source: TradingView

The Decentraland price analysis shows the Relative Strength Index (RSI) to be 46, which means that the cryptocurrency does not show signs of falling into the low-value or over-bought category. Instead, RSI can be seen following a slight declining movement that reflects a decreasing market and dominant selling activity.

Decetraland Price Analysis Conclusion

The Decentraland price analysis conclusion shows that the cryptocurrency’s current behavior indicates that it follows a stable bullish trend that is likely to reverse soon. MANA/USD lost a lot after its recent rise above the $2.8 mark; the price reached $2.82 on February 26, 2022; however, the price has not increased since then. Instead, it keeps decreasing. The bulls currently control the market, but the bears 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.

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