Claim $500MANA Price Forecast: Decentraland (MANA) Price Spikes by 265% In A Week, Good Time to Enter MANA?
Metaverse crypto projects have seen astronomical gains following the Facebook news, with MANA-Decentraland recording a 265% gain after last week’s closing price. MANA, AXS, and SAND are native tokens of top Metaverse crypto projects that saw a massive surge in prices after last week’s closing price.
Facebook CEO Mark Zuckerberg at his Connect 2021 keynote presentation confirmed the move to rebrand before transporting into a simulated virtual reality.
Bullish/Bearish Scenario
The MANAUSDT suggests strong bullish sentiment as the relative strength index shows higher values above level-25 on the weekly and daily time frames.
Let’s analyze the MANAUSDT price chart and see if the current price hike will persist.
MANA Price Analysis: Weekly Chart
Last week, the MANA token skyrocket by 265% from the open to the closing price after the RSI indicator failed to print lower values below level-25 and the bulls found their way above bearish divergence resistance on 23 Aug ’21.
The MANAUSDT is back in an uptrend as the RSI breaks above level-75 for a second time and traders now expect a price correction for a chance to scale into the uptrend.
Let’s look into the daily time frame for clues into entry levels.
MANA Price Analysis: Daily Chart
The daily time frame is equally in an uptrend as the RSI prints higher readings above level-75 without dropping below level-25.
Attempts from the bears in the form of regular and hidden bearish divergence failed to a breakout of resistance on 28 October ’21 for about a 400% increase.
With that said, the entry-level should be at the 4HR time frame where we expect the RSI to print lower figures below level-25.
MANA Price Analysis: 4 Hr Chart
Okay, now we can see that the 4HR time frame is our trade entry time frame for the MANA token, signaling the price bottoms with the RSI moving below level-25 on 24 Oct 12:00 and 27 Oct 20:00.
The next entry point into the uptrend will be flagged if we see RSI readings below level-25 on the 4HR time frame.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- PENGU Rises Despite Crypto Market Downtrend as Pudgy Penguins Appear on Las Vegas Sphere
- Binance Lists First Nation–Backed Stablecoin; CZ Reacts
- U.S. Initial Jobless Claims Fall To 214,000; BTC Price Drops
- BlackRock Deposits Millions in Bitcoin and Ethereum as CryptoQuant Flags Growing Bear Market Risk
- NiceHash Review: Trade HashRate and effectively manage your POW mining facility
- XRP, Bitcoin, Ethereum Price Predictions Ahead of Jan 2026 CLARITY Act and US Crypto Reserve Plans
- Pi Network Analysis: Pi Coin Price Surges on Christmas Eve, Can It Hit Year-End Highs?
- Why Dec 26th Is A Do Or Die for Bitcoin Price Ahead Of Record Options Expiry?
- Why Bitcoin, Ethereum And XRP Prices Are Down Today? (24 Dec)
- XRP Price Prediction: Will 4 Billion Transactions Spark Next Rally?
- Solana Price Outlook: Will SOL Recover With Strong Institutional Buying?
