MANA Prepares For Big Upmove

Decentraland price prediction favors the bulls and suggests bulls will continue their dominance and lead the rally.

MANA price formed a bullish continuation pattern and succeeded in sustaining above the 200-day EMA. It showcases short-term trend and positional trend is in the upward direction.

During the rally, MANA crypto witnessed a massive spike in the buying volume and prices followed the upward direction. It shows crypto whales have turned bullish and accumulated MANA from the lower levels.

At present, MANA price is attempting to break out of the $0.5000 hurdle. But sellers are also active and trying their best to defend the supply zone.

Decentraland crypto price rallied a lot in the last few weeks. So, it will be better if the price consolidates for some time before rising upward.

The 50-day EMA sloping upward and might intersect with the 200-day EMA. If the golden crossover happens then it will boost the confidence of the long-term investors.

Currently, MANA price is trading at $0.4572 with an increase of 1.22%. The 24-hour volume to market cap is 13.12%. The pair of MANA/BTC is also forming a similar pattern indicating bulls are active in both.

Will Decentraland Price Perform Well in December?

Decentraland price prediction for 2024 suggests that the crypto will trade above $1.00 and sustain higher levels. The recent rally in MANA is supported by genuine buyers which shows long-term investors are confident in the metaverse projects.

Moreover, the overall cryptocurrency market is performing well and hitting new highs. So, the positive sentiment in the market is adding fuel to the MANA rally.

Till the crypto price holds the $0.3500 level, the buyers will remain active and absorb the minor sell-off. Therefore, the downside risk is limited and the price might continue to perform well in December.

MANA Price Rose for Four Consecutive Weeks

MANA price rose for four consecutive weeks and formed a bullish hammer candle in the current week. It shows the strength of the bulls and the price is likely to break out of the $0.5000 hurdle in the coming weeks.

The supertend says till the price sustains above $0.3571, the short-term trend will remain upward. The RSI at 65 also favors the buyers and indicates more scope for upside is open.

However, the MACD curve reverses down indicating price is losing momentum and might enter consolidation.

Conclusion

Decentraland price prediction is bullish for December as well as for next year. The rally is supported by genuine buyers so the price is likely to hold the recent gains.

The analysis suggests that the MANA price is in an uptrend and may hit new swing highs in the coming months.

Technical Levels

Resistance levels: $0.5343 and $0.7000
Support levels: $0.3500 and $0.2662

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts round the clock, and is a strong advocate for women in STEM.