Decentraland

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>The MANA token price has breached the trendline support zone of $0.6000.</a></li>
 <li><span>2</span> <a>Bears have showcased their presence and are attempting to push toward the 200-day EMA mark.</a></li>
</ul>
<p>The MANA token price slipped to the 100-day EMA mark and depicts selling pressure in the last sessions. The chart showcased a descending triangle pattern, and the token has been delivering lower low swings for weeks. Following the market downturn, the token has eroded over 30% of gains and has breached the crucial support zone of the $0.6000 mark. If the token cannot sustain gains near the 100-day EMA mark, a further down move may soon take MANA price toward $0.5000.</p>
<p>At press time, the Decentraland token (MANA) price was trading at $0.5876 with an intraday gain of 3.37%, reflecting neutrality on the charts. It has a monthly return ratio of -19.90% and -10.90% on a yearly basis. The pair of MANA/BTC is at 0.00000869 BTC, and the market cap is $1.29 Billion. Analysts are neutral and suggest that the MANA price may deliver a volatile move and will retest the 200 mark soon.</p>
<h2 class="wp-block-heading" id="strong-mana-price-to-volume-profile-revealing-selling-pressure-strong"><strong>MANA Price-to-Volume Profile Revealing Selling Pressure</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (MANA), Volume (MANA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=aave&amp;pt=AAVE&amp;df=2023-10-06T18%3A29%3A59.597Z&amp;dt=2024-04-06T18%3A29%3A59.597Z&amp;sat=shchcfg_p2psxPivdIOm&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bdecentraland%3BMANA%5D%3B%5B1%3Bvolume_usd%3Bdecentraland%3BMANA%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>The above chart showcased the <a href="https://www.thecoinrepublic.com/2024/04/03/aidoge-crypto-price-analysis-whats-next-in-arbdoge-ai-crypto/" target="_blank" rel="noopener noreferrer nofollow">price</a>-to-volume profile of the Decentraland token (MANA), revealing the retracement move. The token has formed a descending triangle pattern and breached the trendline support zone. Additionally, the token has slipped to the make-or-break region near the neckline of $0.5700, close to the 100-day EMA mark. The intraday trading volume dragged over 17.78% to $56.43 million.</p>
<h2 class="wp-block-heading" id="strong-price-volatility-and-weighted-sentiment-analysis-strong"><strong>Price Volatility and Weighted Sentiment Analysis</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (MANA), Weighted sentiment (Total) (MANA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=aave&amp;pt=AAVE&amp;df=2023-10-06T18%3A29%3A59.597Z&amp;dt=2024-04-06T18%3A29%3A59.597Z&amp;sat=shchcfg_p2psxPivdIOm&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Bdecentraland%3BMANA%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Bdecentraland%3BMANA%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>Amidst the price decline, the price volatility data signified neutrality and remained below the midline, near 0.014. However, the weighted sentiment remained in the negative region, noted around -0.257, implying low investor interest and an adverse outlook.</p>
<h3 class="wp-block-heading" id="strong-social-dominance-and-social-volume-ai-overview-strong"><strong>Social Dominance and Social Volume (AI) Overview</strong></h3> <iframe loading="lazy" title="Santiment Chart: Social Dominance (MANA), Social Volume AI (MANA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=aave&amp;pt=AAVE&amp;df=2023-10-06T18%3A29%3A59.597Z&amp;dt=2024-04-06T18%3A29%3A59.597Z&amp;sat=shchcfg_p2psxPivdIOm&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bsocial_dominance_total%3Bdecentraland%3BMANA%5D%3B%5B1%3Bsocial_volume_ai_total%3Bdecentraland%3BMANA%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>The data signifies the average movement in the social dominance value, replicating decent pump and dump activities, resulting in a decline of over 5%, noted around 0.063% this week. However, the social volume AI signifies a negative move, and the value dropped to 2.</p>
<h4 class="wp-block-heading"><strong>Development Activity and Open Interest Data Outlook</strong></h4> <iframe loading="lazy" title="Santiment Chart: Development Activity (MANA), Total Open Interest in USD (MANA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=aave&amp;pt=AAVE&amp;df=2023-10-06T18%3A29%3A59.597Z&amp;dt=2024-04-06T18%3A29%3A59.597Z&amp;sat=shchcfg_p2psxPivdIOm&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bdev_activity%3Bdecentraland%3BMANA%5D%3B%5B1%3Btotal_open_interest%3Bdecentraland%3BMANA%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%2C%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>The above data showcased that the development activity noted a decline of over 35% and dropped to 163 this week. Similarly, the derivative data signifies long unwinding, and the open interest dropped over 0.98% to $36.56 million in the previous 24 hours.</p>
<p>Per the Fib levels, the MANA price has traded near the 23.6% zone and has slipped to the bearish region. The RSI curve slipped to the oversold region and reflected a negative crossover on the charts. Furthermore, the MACD indicator depicts red bars on the histogram, and a bearish crossover was noted.</p>
<p>The total supply of the MANA is 2.19 billion, whereas the volume-to-market cap ratio is 0.0436, which stands at 92 per the market cap in the global crypto market.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>The Decentraland token price has breached the trendline support and slipped below the primary support mark of $0.6000. The price chart depicts a descending triangle pattern, and the token is on the verge of the neckline support zone at $0.5800.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $0.5750 and $0.5500</p>
<p><strong>Resistance Levels:</strong> $0.6000 and $0.6300</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

MANA Near Crucial Zone; Will Sellers Succeed in Wiping Out Gains?

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Thecoinrepublic.com

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