Decentraland

Resistance

April

Wings

Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>As of press time, the MANA price has reacted negatively with -2.31 % since yesterday, at $0.4518.</a></li>
 <li><span>2</span> <a>Developer activity is rising, and monitoring it is crucial for future asset decisions.</a></li>
</ul>
<p>On the daily chart of MANA crypto, there has been a fierce price battle between bulls and bears, which caused a significant formation in price structure. Initially, bulls led the way as the price surged from $0.2700 to $0.8000. However, bears disrupted the market on March 10th, 2024.&nbsp;</p>
<p>Bears have taken control and established new low and high points on the daily chart, creating a support level at $0.3700. The MANA price remained steady at this crucial level for several daily sessions.</p>
<p>The recent Decentraland price has increased from the $0.3700 support level on April 14th, indicating slight resistance for bears, which could suggest a resurgence of bullish momentum.&nbsp;</p>
<p>Furthermore, the MANA crypto is close to the primary resistance levels of the daily chart’s 20-day and 50-day Exponential Moving Averages. Additionally, the RSI is at 37.48, finding support on the 14-SMA, while the MACD is at -0.0399, indicating a bullish crossover.</p>
<p>As of press time, the MANA price has reacted negatively, with -2.31 % since yesterday and at $0.4518. Despite the weekly upsurge of 8.05%, bears are still active.&nbsp;</p>
<p>Therefore, if the demand for Decentraland increases, it could experience a significant recovery from its current <a href="https://www.thecoinrepublic.com/2024/04/24/eth-price-prediction-can-bulls-accumulate-ethereum-beyond-3500/" target="_blank" rel="noopener noreferrer nofollow">price</a> point. The price may reach $0.5600 next, possibly even higher at $0.6400.</p>
<p>However, if the price of the MANA cryptocurrency falls below the $0.3700 support level, it could drop further and hit even lower levels in future sessions.</p> 
<p><a href="https://in.tradingview.com/chart/MANAUSD/X0xXiN09-the-MANA-crypto-is-close-to-the-primary-resistance/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a></p> 
<h2 class="wp-block-heading" id="strong-mana-crypto-development-activity-analysis-strong"><strong>MANA Crypto Development Activity Analysis</strong></h2>
<p>The MANA crypto allows for tracking weekly developer activity by monitoring the contribution of developers to the commit count. The goal of the asset is to ensure that the developer’s activity is consistent and of high quality. Decentraland crypto has seen a consistent increase in both developer activity and commit count over the last three months. This information is valuable for making informed decisions about the future of MANA crypto and its development in future sessions.</p> <iframe loading="lazy" title="Santiment Chart: Dev. Activity Contributors Count (MANA), Development Activity (MANA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=saga&amp;pt=SAGA&amp;df=2023-10-30T00%3A00%3A00.000Z&amp;dt=2024-04-25T18%3A29%3A59.032Z&amp;sat=shchcfg_yaDW-rutzimA&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bdev_activity_contributors_count%3Bdecentraland%3BMANA%5D%3B%5B1%3Bdev_activity%3Bdecentraland%3BMANA%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%7D" scrolling="no"></iframe>
<h2 class="wp-block-heading" id="strong-on-chain-transaction-volume-ratio-of-mana-crypto-in-daily-profit-to-loss-strong"><strong>On Chain: Transaction Volume Ratio Of MANA Crypto In Daily Profit To Loss</strong></h2>
<p>The metrics that are used to measure the amount and proportion of MANA tokens moved on the blockchain and are either in profit or in loss based on their acquisition cost are daily on-chain transaction volume in profit, daily on-chain transaction volume in loss, and the ratio of on-chain volume in profit to loss.&nbsp;</p>
<p>The daily on-chain transaction volume in profit (MANA) is 284k, whereas the daily on-chain transaction volume in loss is 795K (MANA). The daily on-chain transaction volume ratio in profit to loss is 0.377&lt;1.</p>
<p>These metrics provide insights into various aspects of the token. For instance, the high loss volume and the ratio below 1 indicate that most holders are in a negative position. This sentiment and behavior for Decentraland may lead to buying more.</p>
<p>Additionally, these metrics highlight the supply dynamics and price pressure on MANA. There is a large amount of MANA tokens that are locked or illiquid, creating upward pressure on the price.</p>
<p>Furthermore, the increasing volume in loss and decreasing ratio suggest that the MANA token is in a downtrend and losing momentum. It also shows that more holders are becoming unprofitable.</p> <iframe loading="lazy" title="Santiment Chart: The Ratio of Daily On-Chain Transaction Volume in Profit to Loss (MANA), Daily On-Chain Transaction Volume in Loss (MANA), Daily On-Chain Transaction Volume in Profit (MANA)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=saga&amp;pt=SAGA&amp;df=2023-10-30T00%3A00%3A00.000Z&amp;dt=2024-04-25T18%3A29%3A59.032Z&amp;sat=shchcfg_yaDW-rutzimA&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Btransaction_volume_profit_loss_ratio%3Bdecentraland%3BMANA%5D%3B%5B1%3Btransaction_volume_in_loss%3Bdecentraland%3BMANA%5D%3B%5B1%3Btransaction_volume_in_profit%3Bdecentraland%3BMANA%5D&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%3B%3B" scrolling="no"></iframe>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>Bulls and bears fought fiercely on MANA crypto’s daily chart, creating significant price structure changes. The bulls led initially, but on March 10th, 2024, bears proved overwhelming, establishing new high and low points at $0.3700.</p>
<p>Recent price increases hint at a bullish momentum resurgence, nearing resistance levels and showing bullish indicators. MANA is currently at $0.4518, potentially reaching $0.5600 or $0.6400. Developer activity is rising, and monitoring it is crucial for future asset decisions.</p>
<p>Metrics on MANA token movement on the blockchain include daily on-chain transaction volume in profit and loss, with a ratio of 0.377&lt;1. This data reveals a negative position among holders, highlighting the potential for price increase pressure.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels</strong>: $0.4518</p>
<p><strong>Resistance Levels</strong>: $0.5600</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

MANA Crypto About To Get Wings And Take Off? Technical Analysis

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