MANA price prediction reveal an upcoming breakout from the ‘Bitcoin price action’ syndrome. Long-time crypto-traders may recall that MANA has been trend almost identical to Bitcoin price movement, but the future looks bright for Decentraland.
Today, Decentraland is hovering north of $0.90, according to trading data on CoinMarketCap. MANA commands a fully diluted market cap of about $2.2 billion. The circulating supply is just over 1.8 billion MANA out of the total supply of just over 2 billion MANA.
For all the seemingly capricious moves of the crypto market, there are many reliable signals for predicting whether a coin will be going up or down. In this article, we use tested technical analysis patterns in Decentraland Price Prediction.
Let’s delve into MANA price prediction and the technical analysis that’s building up to surpass trader expectations. Can the bullish outlook continue in the future, and is the cryptocurrency a solid buy?
MANA Price Prediction: Technical Analysis
Judging by previous MANA price prediction, one thing has been clear, the only trouble Decentraland faces is the market’s over-dependency on Bitcoin price prediction. However, this time MANA exhibited a consolidated effort to stand firm on its own merits and stayed very much resilient as compared to its crypto peers.
Decentraland (MANA) has managed to protect key price levels since the start of August, following a turbulent trading season in Q2 of 2021. The coin seems to be consolidating in a defined range, making calculated moves that in a broader view, carefully build up to a solid uptrend. Following the corrective moves of August, we can project the road ahead.
The RSI index trades currently at around 58.28; it remains in the mildly overbought zone. However, this figure is still neutral and does not show any divergence against MANA. The DMI is bullish; the +DMI is strongly dominant.
The pattern analysis shows that a possible breakout on the four-hour chart above $0.91 is still valid and very much in action. The examination of the chart above shows that the coin has continued with its up move following weeks of solid consolidation. It remains above the pattern support trend line drawn from the lows of mid-July.
Decentraland has resolved to trade in some ranged consolidation. In the coming weeks, analysts recommend using the ranged moves to book positions and put money on the table. The defensive sectors of user-owned virtual worlds are likely to show resilience; traders should expect an attempt to correct its relative underperformance.
MANA Price Prediction
