Decentraland (MANAUSD) Takes a Breather as Bulls Plan Fresh Expansion
Estimated Reading Time: 2 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Decentraland Price Analysis – Buyers Seeks Recovery in the Market
Decentraland (MANAUSD) is taking a pause as buyers regroup to strategize for further upward movement. The market has hit a temporary resistance at the $0.3300 significant level, with sellers attempting to gain control.
MANAUSD Key Levels
Support Levels: $0.1900, $0.2800
Resistance Levels: $0.3300, $0.4000
MANAUSD Long Term Trend: Bullish (Daily Chart)
The bulls have maintained momentum throughout the month, starting with a strong recovery from the $0.1900 significant level. From this area, buyers built upward strength, pushing the price higher and regaining control of the market. However, as the market approaches the $0.3300 significant level, a headlock has formed, with sellers attempting to slow down the bullish advance. The Stochastic Oscillator indicates that sellers are entering the scene, but this may only be temporary as buyers take a breather to consolidate their strength. With a forceful breach of the $0.3300 resistance level, the bulls are likely to extend their upward push toward the $0.4000 key level.
Despite the current slowdown, the overall sentiment remains bullish. The market shows signs of buyers preparing for a renewed push higher. The $0.2800 support level will serve as a critical zone for buyers to defend in case of further pullbacks. If buyers successfully break above the $0.3300 resistance level, it could pave the way for a stronger upward trajectory.
MANAUSD Short-Term Trend: Bullish (4-Hour Chart)
On the short-term chart, buyers remain in control despite the recent drop. The Parabolic SAR indicator shows that the bulls are still gaining strength. This suggest that the market is poised for further upward movement. As momentum builds, the buyers are likely to regain control and push the price higher, making the $0.3300 key level a critical area to watch for a breakout.
You can purchase Lucky Block here. Buy LBLOCK
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
