Price Analysis for Decentral and Shows it may hit a High of $5.3278 or a Low of $1.9632
According to the latest data from TradingView surrounding Decentraland (MANA), its price has experienced a 26.18% surge in the past 7-days. Followed by the past 7-day performance is the past 24-hours performance that has observed 4.42% growth.
Due to the surges, the price of MANA is now hovering at $3.88 per MANA. As of now, the overall market trend for MANA is in the bullish zone. The sentiments of the investors pertaining to MANA are currently in the bullish zone. They are positive above the upcoming days’ performance for MANA and are ready to accumulate it rather than sell.
Even the performance graph for MANA shows that the investors are leaning towards the buying zone for MANA. The preference scale for MANA shows that the investor is highly like to buy MANA. The sell-neutral-buy ratio for MANA currently stands at 1:10:15.
The ratio makes it clear that the current sentiments of the investors are positive and they prefer buying MANA to selling it. The data shows that the price of MANA has been rising and in the upcoming days, the bulls may increase buying power to push it higher.
From the current point, the investors may try pushing the price of MANA over the first resistance mark that is currently $4.3497. If the rally works in favor of the investors and takes the bears head-on, they may be able to push MANA’s price over the first resistance point, onto the second strong resistance point.
According to data from TradingView, the second strong resistance mark for MANA is $4.9887. Although the bears do not seem to be making a move at the moment, they may come into action as bulls reach the second strong resistance mark.
If the bulls are able to fight off against the bears, they may succeed in pushing its price higher, bringing it all the way up to $5.3278, the third strong resistance mark for MANA.
On the other hand, if the bears are able to gather against MANA and counter with high-level sales, they may be able to pull MANA down. They may attempt to bring it down to the first strong support mark, which is $3.4248.
If the bulls fail to sustain the pressure from the bears, they may go for another major sell-off for MANA. This may help bears bring MANA all the way down to the second strong support point, which is $2.7994. In case the bears manage to pull MANA’s price below the second strong support mark, they may go for another high-level rally.
It may result in a huge plunge and may bring MANA’s price all the way down to $1.9632 per MANA.