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Tuesday, October 4, 2022
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    HomeAltcoinMANA Price Prediction: Attempts To Breach Descending Trend line; Targets $2.40 Next

    MANA Price Prediction: Attempts To Breach Descending Trend line; Targets $2.40 Next

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    MANA price stays negatively skewed shifting in a decent vary. The worth motion lacks conviction for a transparent pattern. Decentraland (MANA) is following a long-term descending resistance line with resistance at $5.91.

    • MANA worth trades with losses on Tuesday.
    • Count on a bounce towards $2.40 if breaks above the bearish slopping line.
    • The draw back is capped close to $2.20.

    MANA worth seeks short-term bounce

    Supply: Buying and selling View

    On the 1-hour timeframe, the MANA worth is displaying energy and is in preparation to flee two instant upside hurdles. If taken out efficiently MANA worth will probably be seeing interim upside goal on the horizontal $2.30 resistance stage.

    The metaverse coin opened decrease however shortly examined the session’s excessive earlier than retracing again to the lows of $2.22. This occurs to be ‘double’ help for the value on account of MANA making an attempt to bounce again towards the descending trendline.

    The bearish trendline, which extends from the highs of $2.44 acts as a resistance for the bulls.

    If the value takes out a $2.30 upside filter then bulls will transfer ahead to hunt the following goal at $2.35.

    A sustained shopping for strain will convey highs of March 13 at $2.44 in play.

    Alternatively, a spike in promote order would possibly proceed with the draw back momentum. A break beneath the session low will check the lows made on January 24 at $1.80.

    MANA’s worth depreciated almost 73% from document highs made on November 25 at $5.91. As of writing, MANA/USD is buying and selling at $2.24, down 3.69% for the day. As per the CoinMarketCap, the 24-hour buying and selling worth of Decentraland holds at $264,560,490.

    Technical indicators:

    RSI: The hourly Relative Power Index approaches the oversold zone. Any downtick within the indicator may push the value decrease.

    MACD: The Shifting Common Convergence Divergence trades beneath the mid-line since March 13.

    Disclaimer

    The introduced content material might embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.

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