Decentraland is Trading -10.86% Below Our Price Prediction for Aug 20, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Decentraland is down -5.84% today against the US Dollar
• MANA/BTC decreased by -5.36% today
• MANA/ETH decreased by -5.21% today
• Decentraland is currently trading 10.86% below our prediction on Aug 20, 2023
• Decentraland dropped -15.90% in the last month and is down -67.43% since 1 year ago

MANA price is expected to rise by 11.79% in the next 5 days according to our Decentraland price prediction

is trading at $ 0.343695 after losing -5.84% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -4.21% in the same time period. MANA performed poorly against BTC today and recorded a -5.36% loss against the world’s largest cryptocurrency.

According to our Decentraland price prediction, MANA is expected to reach a price of $ 0.385571 by Aug 20, 2023. This would represent a 11.79% price increase for MANA in the next 5 days.

MANA Price Prediction Chart

Buy/Sell Decentraland

What has been going on with Decentraland in the last 30 days

Decentraland has been displaying a negative trend recently, as the coin lost -15.90% in the last 30-days. The medium-term trend for Decentraland has been bearish, with MANA dropping by -32.15% in the last 3 months. The long-term picture for Decentraland has been negative, as MANA is currently displaying a -67.43% 1-year price change. On this day last year, MANA was trading at $ 1.06.

Decentraland reached its all-time high price on Nov 25, 2021, when the price of MANA peaked at $ 5.85. The current MANA cycle high is $ 0.838710, while the cycle low is at $ 0.285641. MANA has been displaying low volatility recently – the 1-month volatility of the coin is at 4.12. Decentraland recorded 14 green days in the last 30 days.

Decentraland technical analysis for today – Aug 16, 2023

The sentiment in the Decentraland markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 0.332846, $ 0.320394 and $ 0.303686, while $ 0.362006, $ 0.378714 and $ 0.391166 are the key resistance levels.

Bearish sentiment for Decentraland

1 indicators are currently signaling a bullish prediction for Decentraland, while 29 indicators are showing a bearish forecast. With 97% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Decentraland.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 52 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Decentraland moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Decentraland is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Decentraland is at 43.09, suggesting that MANA is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Decentraland over the last 50 days. Currently, Decentraland is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the MANA closing price for the last 200 days. MANA is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Decentraland prediction

After considering the above factors, we can conclude that the current forecast for Decentraland price prediction is Bearish. MANA would have to increase by 11.79% to hit our $ 0.385571 target within the next five days. Moving forward, it will be important to monitor the MANA market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Decentraland price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.