Decentraland Price Prediction: MANA Price Could Drop Towards $1.0

Rekha chauhan
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights 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.
decentraland-MANA

MANA price continues to drift lower amid intense selling momentum. The price has been under the downside spell since the beginning of the April series. MANA lost nearly 14% on the weekly basis with no immediate signs of reversals.

  • MANA’s price extends the weakness for the fifth straight session in a row.
  • Investors could see the continuation of the downside momentum if it failed to hold on to $1.50.
  • The metaverse token 24-hour trading volume gained 26% at $259,634,554 relative to price.
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MANA price looks bearish

Source: Trading view

MANA price fell 52% from the highs of $3.55 made on February 9 to the swing lows of $1.70. On the weekly chart, we could see the price made all-time highs of $5.91 in November. Since then MANA is under the control of the bears. In addition to that, the MANA price has been consolidating in the range of $3.20 and $1.70.

Currently, the price is hovering near the crucial support zone with above average volume that indicates the dominance of the sellers. Sustained downside momentum could result in the break of this support zone. In that case, investors could collect the sell-side liquidity neat the psychological $1.0 level.

In addition to that, a fall below the said level will open the gates for $0.70, the levels last seen in October,

On the flip side, if the price manages to hold above the session’s high it would challenge the prevailing downside in the asset. In that scenario, MANA buyers could revisit the previous week’s highs of $2.23. The next upside hurdle could be the 21-day EMA (Exponential Moving Average) of $2.40.

An acceptance above this level would meet the psychological $3.0 level.

As of publication time, MANA/USD reads at $1.71 down 4.93% for the day.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

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.

About Author
About Author
Rekha has started as Forex market analyst. Analyzing fundamental news and its impact on the market movement. Later on, develop an interest in the fascinating world of cryptocurrency. Tracking the market using technical aspects.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.