Decentraland (MANA)


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Synopsis: mana price right now is $ 2.46, with a 24 hour trading volume of $ 505.37M, market cap of $ 4.54B, and market dominance of 0.23%. The MANA price increased 0.79% in the last 24 hours.

Decentraland reached its highest price on Nov 25, 2021 when it was trading at its all time high of $ 5.85. The lowest price since it’s ATH was $ 1.72 cycle low. The highest MANA price since the last cycle low was $ 3.55 cycle high. The Decentraland price prediction sentiment is currently neutral.

Decentraland’s current circulating supply is 1.84B, MANA out of max supply of 2.64B MANA. In terms of market cap, Decentraland is currently ranked 11 in the Ethereum sector, ranked 1 in the NFT Tokens sector, ranked 1 in the Gaming sector and ranked 1, in the Metaverse sector. According to our current Decentraland price prediction, the value of Decentraland will drop by -1.01%, and reach $ 2.44 by March 27, 2022. According to our technical indicators, the current sentiment is Neutral, while the Fear & Greed Index is showing Fear. Decentraland recorded 47% green days with 6.34% price volatility over the last 30 days. Based on our Decentraland forecast, it’s now a good time to buy Decentraland.

Based on today’s classical pivot point, with the value of $ 2.41, Decentraland has support levels of $ 2.36, $ 2.31, and the strongest at $ 2.25. Similarly, Decentraland resistance levels are at $ 2.46, $ 2.51, and $ 2.56. To get a better idea of what could happen to the Decentraland price in the future, it’s helpful to also explore Decentraland’s price history. In the last month, the MANA USD pair is down -15.60%. The 1 year performance of MANA/USD is 155.22%.

Over the last 30 days, Decentraland had 47% green days. According to our historical data, it is currently profitable to invest in Decentraland. The price of Decentraland increased by 155.23%, in the last 1 year, while the coin’s 3 year performance is 4,803.44%.

After nosediving from its ATH, MANA lost over 70% of its value and hit its 11 week low on 22 January. Since then, it has seen promising recovery before, reversing from its month long trendline resistance.

Over the last ten days, MANA grew in a rising wedge, on its 4 chart. The price is now approaching a tighter phase after a week long volatile phase. Thus, the gap between the upper and lower band of the Bollinger Bands seemed to decrease. Also, the recent bullish engulfing candlestick created a near term demand zone, for the alt in the $2.4-$2.5 range.

From here on, MANA could see growth until the $2.5-mark before the bears attempt a pullback from the upper band of the BB. Furthermore, if the bears keep the trendline resistance intact, the alt will eye hovering in its demand zone while breaking down from its reversal pattern. Any close above $2.5 would confirm a long-term trend reversal on MANA’s 4 hour chart. While the 55-mark stood firm, the RSI marked lower troughs on the last day before picking, itself up from this level. Hence, revealing a hidden bullish divergence with its price. This reading opened up gates to test the upper band of the BB before a near-term pullback.

Nevertheless, the CMF plunged below the zero-line over the last few hours. This reading hinted at money outflows from the crypto while the fear sentiment prevailed. As MANA enters a tighter phase, it aims to test the $2.5, zone before facing a possible pullback. Any break below the pattern could lead to a test of the $2.4 support. Moreover, the alt shares a 31% 30 day correlation with Bitcoin. So, keeping a watch on the king coin’s movement, would be useful in complementing the above analysis.

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