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Saturday, December 3, 2022
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    HomeAltcoinDecentraland Price Prediction: MANA Price Breaks Short-Term Consolidation; Next Aims For $3.50

    Decentraland Price Prediction: MANA Price Breaks Short-Term Consolidation; Next Aims For $3.50

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    Mana price prints acquire for the fourth straight day on Thursday. Though, the worth strikes in a range-bound method however with a bullish bias. The worth touched two-week highs close to $2.60. Thus, resulted within the breaking of a short-term buying and selling vary.

    • MANA worth trades greater with vital features.
    • A each day shut above $2.60 will set the route for $3.50.
    • The 200-SMA capped the draw back threat in MANA worth.

    As of publication time, MANA/USD reads at $2.60, up2.44% for the day with a 24-hour buying and selling quantity of $779,272,033 in response to the CoinMarketCap.

    MANA worth prepared to maneuver additional up

    Supply: Buying and selling View

    On the each day chart, the descending development line acts as a robust resistance barrier for the bulls, which extends from the highs of $3.55. The worth tried to cross the resistance line on February 9 however failed to take action. Along with that, depreciated practically 30% from the February 16 highs and briefly fell beneath the essential 200-day EMA (Exponential Transferring Common) at $2.41.

    Presently, the MANA worth is once more attempting to breach the bearish slopping line. If that occurs, in that case, the street will probably be clear for $3.0 subsequent.

    Moreover, an acceptance above $3.0 with sustained shopping for strain will take out $3.50 simply.

    Then again, a failure to present a each day shut above the development line will invalidate the bullish outlook. The primary draw back goal is positioned at $2.40, which coincides with the 200-EMA.

    Technical indicators:

    RSI: The each day Relative Energy Index pierced above the typical line with robust bullish momentum. It at the moment reads at 52.

    MACD: The Transferring Common Convergence Divergence tried to cross above the midline. An uptick within the indicator will strengthen the upside outlook.

    Buying and selling quantity: The On Stability Quantity (OBV) rose in accordance with the worth indicating elevated demand as the worth gained.

     

    Disclaimer

    The offered content material could embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty in your private monetary loss.

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