Decentraland ($MANA ) is currently trading at $0.6269, reflecting a 10.81% drop over the past 24 hours. With the metaverse sector gaining attention, MANA remains a key asset to watch. Let’s analyze the technicals and identify two potential price targets.
🔍 Key Technical Levels
1️⃣ Resistance Zone (Target 1): $0.7000
The first key resistance lies at $0.7000, which aligns with the 50-EMA and psychological levels. Breaking this level would indicate a potential trend reversal.
Indicator Support: The RSI at 35.71% suggests that MANA is approaching oversold territory, increasing the chances of a bounce.
2️⃣ Major Resistance (Target 2): $0.7820
A rally above $0.7000 could lead to testing $0.7820, the recent 24-hour high. This level acts as a major resistance zone and a critical level for further upward momentum.
Watch for: Strong buying volume and a MACD crossover as confirmation for a sustained rally.
🔽 Support Levels
Immediate support is at $0.6155, the 24-hour low.
A failure to hold this level may see MANA testing $0.6000, potentially signaling further downside.
📈 Indicators to Watch
Parabolic SAR (0.02, 0.2): $0.6163, suggesting bearish momentum.
RSI: 35.71%, indicating oversold conditions.
MACD: Negative, but showing signs of momentum loss.
💡 Market Outlook
MANA’s fundamentals remain strong, supported by its role in the metaverse ecosystem. While the current market sentiment leans bearish, oversold indicators hint at a potential reversal in the near term.
🎯 Target Summary:
Target 1: $0.7000
Target 2: $0.7820
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