Sign Up on MEXC
Decentraland (MANA) price remains bullish despite a minor setback in the previous trading session. The price opened the session lower but quickly recovered to test the session’s high level. However, it retraced back after testing the $1.02 level.
- MANA manages to print gains despite a pullback from the higher level.
- A decisive break above the $1.0 mark would bring more gains.
- A key support level is placed near the 50-day EMA on the daily chart.
MANA looks for upside confirmation
On the daily chart, the MANA price has surged up with a 2.20% increase over the past 24 hours. The recent price action suggests that MANA maintains a bullish bias. As the price is sustaining near the crucial $1.0 mark. There are multiple attempts to breach the level, thus making it a crucial hurdle.
Further, in the formation of the “ Inverted Head & Shoulder “pattern, a bullish technical pattern suggests a breakout on the higher side. To further confirm the study, we found that the price continues to trade above the 50-day exponential moving average for the past four days.
On the higher side, the MANA buyers would exploit the high of May 31 at $1.12 followed by the critical $1.30 mark.
On the hourly chart, while trading inside the asymmetrical triangle, MANA formed a double top. The price retraced from there and now, could test $0.92. In addition to that, the price formed a bearish Bat pattern, which is a harmonic pattern that occurs rarely on charts.
Conclusion:
On a higher time frame, MANA harnesses an upside momentum. However, on the lower time frame, a correction toward $0.90 cannot be ruled out. Investors can have discount buying opportunities. If the price breaks $1.0, we can expect a good move.
- Coinbase-Backed Avantis (AVNT) Surges Another 35%, Here’s Why
- “Bitcoin Is Topping Out” Before Fed Rate Cut Warns Peter Schiff
- Michael Saylor Credits Bitcoin for Strategy’s Outperformance Over ‘Mag 7’ Stocks
- XRP Overtakes Shopify, Verizon, Citigroup in Market Value as Price Eyes $6
- Altcoin Season Index Hits New High As ETH, SOL, DOGE, and XRP Rally
- Bitcoin Price Prediction: Q4 Rally Looms as ETF Inflows Hit $642M—Analyst eyes $150K
- Pepe Coin Price Prediction as the Token Jumps Nearly 20% – Will Whale Accumulation Take it to $0.00003?
- Pi Coin Price Prediction As Adam & Eve Pattern Signals Breakout Rally To $0.45 Ahead
- HBAR Price Prediction Amid DTCC Listing and Archax Expansion — Is $0.50 Next?
- Ethereum Price Eyes a 40% Surge as Morgan Stanley Shifts Fed Cuts Forecast
