Decentraland (MANAUSD) Eyes an Upward Trajectory
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Market Analysis: Target the $0.8400 Resistance Level
MANAUSD Eyes an Upward Trajectory Targeting the $0.8400 Resistance Level. MANAUSD has shown a bullish trend, with its sights set on the significant resistance level of $0.8400. This upward movement indicates a growing confidence among buyers.
MANAUSD Key Levels
Demand Levels: $0.5820, $0.4780
Supply Levels: $0.6680, $0.8400
MANAUSD has been gaining momentum, as it breaks market structure and pushes towards the aforementioned supply zone.
Price formed a bullish trendline that broke through the $0.6680 supply level. However, the price was halted at the resistance of the bullish trend line, leading to a pullback in price.
The breached level of $0.6680 is expected to act as support for continued bullish movement, as it aligns with the bullish trend line. Additionally, the daily Moving Average indicates a bullish trend, with the current price above its mark.
Market Expectation
The 4-hour Relative Strength Index indicates that the price is in the oversold region, suggesting potential bullish momentum. It is anticipated that the $0.8400 level will be surpassed, leading to the creation of a new major high.
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