Decentraland (MANA) at a Crucial Juncture as Bears Battle Vital Support

Briefly

  • Decentraland price entered the green phase on Saturday after sustaining bearishness in the last four days.
  • MANA bears test bulls dedications around vital support at 50-DMA.
  • Public introduces the metaverse token to its trading platform.

MANA price finds comfort during the weekend after dropping for three consecutive days. Meanwhile, bulls remained determined to launch a comeback from a crucial demand area. MANA price seems to mimic the bullish sentiment witnessed across the cryptocurrency spectrum. MANA price receives support from the recent updates that Public Trading App. It added four digital coins, including metaverse asset Decentraland, to its cryptocurrency trading platform.

While publishing this analysis, MANA trades at $3.40, following a 3.2% upswing over the past 24 hours.

MANA Bulls Step Up, but RSI Stays Beneath 50-Mark

According to the daily chart, Decentraland’s price challenges a crucial support zone at $3.25. It is the upside-sloping 50-Day MA. MANA price hasn’t closed beneath the 50-day MA since 27 October. Decentraland bulls have to defend this level for a significant recovery towards the threshold and $4.

XPRTcoin Review – What Makes this Broker Special?

If this turnaround picks up momentum, MANA buyers might climb towards the somewhat bearish 21-day Moving Average at $4.21. The 14-day RSI recovers from lower zones, confirming the latest MANA price surge.

Caution prevails for now as the indicators maintain beneath the 50-mark.

A daily close beneath the 50-day MA support might trigger a sharp downswing towards the month-long upward trend-line support at $2.71. Meanwhile, selling resurgence might mean touching the 10 November low of $2.15. Any move below this level will see an extended sell-off to the ascending 100-day Moving Average around the $2 mark.

For now, MANA’s upcoming price trends will determine the winner between bears and bulls. If the overall crypto market sustains the bullish attitude, MANA bulls will gain steam for steady uptrends. Also, metaverse tokens have enjoyed bullishness, decoupling from the market, in the past. Such cases can see MANA rising to higher zones. Also, the Public Trading app adding MANA attracts positive sentiments to the alt.

What are your views on upcoming MANA price actions? You can comment in the area below.

XPRTcoin Review – Evaluating the Primary Offerings of the Broker

Related Posts