- Decentraland has broken the ceiling of the short-term downtrend, indicating a slower initial descent. The currency has broken the inverted head and shoulders formation.
- The currency has broken a resistance that gives a positive signal for the short-term trading range. The currency is currently between a support at 0.29 points and a resistance at 0.33 points.
- The current price of Decentraland is $0.3127, and the trading volume in the last 24 hours is $59,420,357. Decentraland has gained more than 2% in the last 24 hours.
Decentraland (MANA) has shown significant growth in the last 24 hours: Which resistances are important for MANA coin to continue its rise?
Short-Term MANA Analysis
Decentraland has broken the ceiling of the short-term downtrend, indicating a slower initial descent. The currency has broken the inverted head and shoulders formation. A definite breakout, preferably with increasing volume, is considered the beginning of an uptrend. The currency has broken the 0.30-point resistance, indicating further upward movement. Volume peaks and troughs align well with price peaks and troughs, strengthening the currency. Short-term, MANA is generally considered positive from a technical perspective.
Medium-Term MANA Analysis
Decentraland is within the medium-term downtrend channel. This shows investors attempting to exit the currency at lower prices over time, indicating a negative development for the currency. The currency has broken a resistance that gives a positive signal for the short-term trading range. The currency is currently between a support at 0.29 points and a resistance at 0.33 points. A definite breach of either of these levels will indicate a new direction for the currency.
Volume was high at previous price peaks and low at price troughs in previous periods. This weakens the downward trend and could be an early sign of an upcoming trend reversal. Medium-term, MANA is generally considered neutral from a technical perspective.
Long-Term MANA Analysis
Decentraland is within the long-term downtrend channel. This indicates investors trying to exit the currency at lower prices over time, signifying a negative development for the currency. The currency has broken the support at 0.47 points, indicating further decline. Volume peaks and troughs align well with price peaks and troughs, weakening the downward trend and potentially signaling an upcoming trend reversal.
RSI is positively diverging, indicating a potential upward reaction in the price. The RSI curve shows an upward trend, an early sign of a possible upward trend reversal for the price. Long-term, MANA is generally considered negative from a technical perspective.
Decentraland (MANA) Price
The current price of Decentraland is $0.3127, and the trading volume in the last 24 hours is $59,420,357. Decentraland has gained more than 2% in the last 24 hours. According to the current CoinMarketCap ranking, MANA is ranked 60th with a market capitalization of $590,212,635. There are 1,893,095,371 MANA tokens in circulation, and the maximum supply is unspecified.
