- Decentraland price is declining below a downward sloping line over the daily chart.
- The crypto asset is trading below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of MANA/BTC is at 0.00003581 BTC with an intraday drop of 8.11%.
Decentraland price is trading below a downward sloping line over the daily chart. MANA coin price must gain uptrend momentum and should move upwards. However, the whole cryptocurrency market slumps followed by the bear market and MANA also slips. MANA is heading towards the $0.71 level to retest the level from October 2021.
Decentraland price is presently CMP at $1.01 and has lost 10.01% of its market capitalization in the last 24-hour period. However, trading volume has increased by 31.94% in the intraday trading session. Volume to market cap ratio is 0.2228.
MANA coin price is trading below a downward sloping line over the daily chart. Gradually falling volume change forecast the token’s fall over the daily chart. Investors need to wait for any directional change over the chart.
What do Technical Indicators Suggest about MANA?
Decentraland price is trading below a downward sloping line and the token is losing its value exponentially over the daily chart. MANA token must gather forces of bulls to prepare for the rescue. Investors need to gather buyers so that it avoids being caught in the short-sellers clutch. Technical indicators suggest bearish momentum of MANA coin.
Relative Strength Index showcases the token’s return from neutrality. RSI is at 37 and if the barish rally continues it may go oversold soon.
MACD exhibits downtrend momentum of MANA coin. The MACD line is above the signal line and waiting for a negative crossover signifying bearish rally.
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Conclusion
Decentraland price is trading below a downward sloping line over the daily chart. MANA coin price must gain uptrend momentum and should move upwards. Investors need to gather buyers so that it avoids being caught in the short-sellers clutch. Technical indicators suggest bearish momentum of the MANA coin.
Technical Levels
Support Levels: $0.71 and $0.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/05/20/decentraland-price-analysis-mana-at-1-00-level-speculations-are-low/