the MANA crypto is close to the primary resistance
On the daily chart of MANA crypto, there has been a fierce price battle between bulls and bears, which caused a significant formation in price structure. Initially, bulls led the way as the price surged from $0.2700 to $0.8000. However, on March 10th, 2024, bears disrupted the market, resulting in decreased momentum for the bulls.
Consequently, bears took control and established new low and high points on the daily chart, creating a support level at the price of $0.3700. The MANA price then remained steady at this crucial level for several daily sessions.
The recent Decentraland price has increased from the $0.3700 support level on April 14th, indicating slight resistance for bears, which could suggest a resurgence of bullish momentum.
Furthermore, the MANA crypto is close to the primary resistance levels of the 20-day and 50-day Exponential Moving Averages on the daily chart. Additionally, the RSI is at 37.48, finding support on the 14-SMA, while the MACD is at -0.0399, indicating a bullish crossover.
As of press time, the MANA price has reacted negatively with -2.31 % since yesterday and was at $0.4518, despite the weekly upsurge of 8.05%, bears are still active.
Therefore, if the demand for Decentraland increases, it could experience a significant recovery from its current price point. The price may reach $0.5600 next, possibly even higher at $0.6400.
However, if the price of the MANA cryptocurrency falls below the $0.3700 support level, it could drop further and hit even lower levels in future sessions.
Consequently, bears took control and established new low and high points on the daily chart, creating a support level at the price of $0.3700. The MANA price then remained steady at this crucial level for several daily sessions.
The recent Decentraland price has increased from the $0.3700 support level on April 14th, indicating slight resistance for bears, which could suggest a resurgence of bullish momentum.
Furthermore, the MANA crypto is close to the primary resistance levels of the 20-day and 50-day Exponential Moving Averages on the daily chart. Additionally, the RSI is at 37.48, finding support on the 14-SMA, while the MACD is at -0.0399, indicating a bullish crossover.
As of press time, the MANA price has reacted negatively with -2.31 % since yesterday and was at $0.4518, despite the weekly upsurge of 8.05%, bears are still active.
Therefore, if the demand for Decentraland increases, it could experience a significant recovery from its current price point. The price may reach $0.5600 next, possibly even higher at $0.6400.
However, if the price of the MANA cryptocurrency falls below the $0.3700 support level, it could drop further and hit even lower levels in future sessions.
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