Home crypto news MANA/USD Faces Up as Bulls Hold Around $0.54 Level

MANA/USD Faces Up as Bulls Hold Around $0.54 Level

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The Decentraland price prediction escalates, but a break above $0.60 is expected to push the MANA price above the channel.

Decentraland Prediction Statistics Data:

  • Decentraland price now – $0.53
  • Decentraland market cap – $993.4 million
  • Decentraland circulating supply – 1.8 billion
  • Decentraland total supply – 2.1 billion
  • Decentraland Coinmarketcap ranking – #41


Key Levels:

Resistance levels: $0.70, $0.75, $0.80

Support levels: $0.30, $0.25, $0.20

MANAUSD – Daily Chart

MANA/USD is trading around the resistance level of $0.53 after touching the daily high of $0.54 during the European session today. This is a move that could easily pave the way for gains above the upper boundary of the channel to touch the resistance level of $0.60. Therefore, if the technical indicator Relative Strength Index (14) remains within the overbought region, the market could show that the bullish grip is getting stronger.

Decentraland Price Prediction: Where is MANA Price Going Next?

The Decentraland price is currently holding the ground within the channel after a major recovery from the opening price of $0.41. This shows that buyers could have the upper hand in the price movement, and they could easily push the coin toward the potential resistance of $0.70, $0.75, and $0.80 respectively. In the other words, if the buying action fails to break above $0.60, MANA/USD could instead settle for consolidation.

Nevertheless, it is about time that buyers increase their confidence in the recovery because $0.60 is still achievable. Meanwhile, if the bears bring the coin below the 9-day and 21-day moving averages, the support levels of $0.30, $0.25, and $0.20 could be reached.

Against Bitcoin, MANA hovers above the 9-day and 21-day moving averages preparing to cross above the channel. Unless this resistance is effectively exceeded and the price eventually closes above the barrier, there might not be any reason to expect a long-term bullish reversal.

MANABTC – Daily Chart

Meanwhile, trading below the moving averages could recall the lows, and a possible bearish continuation could meet the nearest support at 2000 SAT before falling to 1700 SAT and below. However, the buyers may need to push the market above the channel which could hit the potential resistance level at 3400 SAT and above. The technical indicator Relative Strength Index (14) shows that bulls are in control as the signal line moves into the overbought region.

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