You asked me about MANA, to give them a presentation and a brief technical analysis on its situation. Let's do it !!!

Analysis of $MANA (Decentraland)
Project Name: DecentralandTeam: Ariel Meilich: CEO and co-founder. Former CTO of BitTorrent.Esteban Ordano: CTO and co-founder. Former research scientist at Google.Meryem Benouar: COO. Former Director of Operations at Ledger.Simon de la Rouviere: Marketing Director. Former Marketing Director at Ubisoft.Time in the market: 4 years (launched in 2020)Other fundamental data:Platform: EthereumToken type: ERC-20Total supply: 2,190,400,000 MANAMarket capitalization: $1.30 billion (as of March 30, 2024)
About Decentraland
#Decentraland is a 3D metaverse where users can buy, build, and monetize virtual land parcels. It's one of the most popular and established metaverse projects, with an active community of users and developers. Land in Decentraland is permanently owned by the community, giving them full control over their creations. Users claim ownership of virtual land on a blockchain-based ledger of parcels. Landowners control what content is published to their portion of land, which is identified by a set of cartesian coordinates (x,y). Contents can range from static 3D scenes to interactive systems such as games.
Land is a non-fungible, transferrable, scarce digital asset stored in an Ethereum smart contract. It can be acquired by spending an ERC20 token called MANA. MANA can also be used to make in-world purchases of digital goods and services.
People are spending increasingly more time in virtual worlds, for both leisure and work. This occurs predominantly in 2D interfaces such as the web and mobile phones. But a traversable 3D world adds an immersive component as well as adjacency to other content, enabling physical clusters of communities.
Unlike other virtual worlds and social networks, Decentraland is not controlled by a centralized organization. There is no single agent with the power to modify the rules of the so ware, contents of land, economics of the currency, or prevent others from accessing the world.
Positive factors
Experienced team: The Decentraland team has a proven track record of success in the tech industry.Strong community: Decentraland has an active and engaged community of users and developers.Growing adoption: The number of active users in Decentraland has been steadily increasing.Growth potential: The metaverse market has significant growth potential in the coming years.

A bit of technical analysis by LocademiaCripto
According to TradingView, we've got data since August 2020. Check out this screenshot where you can see how the RSI hit overbought territory when it reached its all-time high of 5.9 back in November 2021 (during the BTC bull run of 2021). But look at where we're at now, even though BTC surpassed its ATH from back then. That's because the overall market has matured; MANA isn't the only coin vying for a slice of the metaverse pie anymore. The MACD confirms a bullish signal for this year on the monthly analysis. However, I'm not so sure it's gonna hit its ATH. In my view, Decentraland needs more development, advertising, marketing... I mean, do you see MANA ads everywhere? I don't.

In the weekly timeframe, we can get a clearer picture of the resistances and where the price is struggling to find its balance. From what I can see, it's still stuck in a tricky zone. If I were considering investing at this level, I wouldn't do it until I see better signs of price recovery.
Of course, if you want a more in-depth analysis of your investment (assuming you have MANA), I need to know at what price you bought and what your maximum investment horizon is. You can reach out to me on my website for real-time assistance in making your decision.

Hope this overview helps! Let me know your thoughts in the comments!
Have a great weekend!
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#TechnicalAnalysis #RSI

The Relative Strength Index (RSI) is an important technical indicator in Bitcoin trading. It measures the strength and momentum of price changes to determine whether Bitcoin is overbought or oversold.

RSI analysis ranges from 0 to 100, with levels above 70 indicating overbought conditions and levels below 30 indicating oversold conditions.

This means that when the RSI falls below 30, traders often buy Bitcoin because it is believed to be undervalued and due for a rebound. Conversely, when the RSI rises above 70, traders sell Bitcoin as they believe it has become overvalued and ready for a correction.

#bitcoin #RSI #follow

The cryptocurrency world has been buzzing with the introduction of spot Bitcoin Exchange-Traded Funds (#ETF ) in the U.S., but the impact on #Bitcoin 's price has been unexpected. While these ETFs were anticipated to boost Bitcoin's value, the reality has been different, raising questions about their actual influence on the market.
Initially, the launch of the U.S. #Spot.Bitcoin ETFs pushed Bitcoin's price to over $49,000, but this spike was short-lived. The phenomenon of "sell the news" came into play, and Bitcoin prices fell sharply after the ETFs started trading, dipping to around $41,500. This pattern of anticipation followed by a quick sell-off reflects the market's complexity and the speculative nature of cryptocurrency investments.

Despite significant inflows into these new spot Bitcoin ETFs, with substantial capital entering the market, the positive impact on Bitcoin’s price hasn’t materialized as expected. This odd situation is partly due to the indirect and delayed effect of ETFs on Bitcoin's price. In these ETFs, Bitcoin purchases are not made in real time. Instead, they occur at least a day earlier, which means the impact on Bitcoin's price is not immediate.
Moreover, the finite nature of Bitcoin – with a total of only 21 million coins – could lead to a supply crunch. As demand from ETFs grows and the available supply of Bitcoin tightens, it could lead to upward pressure on prices in the long term.
In a notable development, #BlackRock , the world's largest asset manager, has quickly amassed a significant amount of Bitcoin through its ETF. This rapid accumulation could potentially impact the market if it continues.
However, the market is still in a state of uncertainty. While the relative strength index (#RSI ) of Bitcoin indicates it might be heading for oversold territory, suggesting a potential rebound, the market's response to the ETFs and other macroeconomic factors continue to shape Bitcoin's price dynamics.
In conclusion, the introduction of spot Bitcoin ETFs has added a new layer to the cryptocurrency market, but their impact is more nuanced than many initially expected. While they have the potential to influence Bitcoin's price significantly, the current market response highlights the complex interplay between traditional financial mechanisms and the novel dynamics of the cryptocurrency world. As the market adapts to these developments, the long-term implications of Bitcoin ETFs will become clearer.

If it's used properly!Uneducated People get rekt on it.Be smart and read this 🧵..All things Stoch RSI:• Common Misconceptions• Measuring Strength• How to benefit from itEnough time wasted, let's dive in ↡🔹 What Is Stoch RSIThe Stochastic RSI is a derivative of the RSI.In simple words:• It's RSI on steroids• A momentum oscillator• Can show underlying strength of a trend • Help you spot reversalsEasy right?MisconceptionsThe classical read says:Above 80 - overboughtBelow 20 - oversoldThere's no such thing as overbought and oversold.As long as there are more buyers than sellers:↠ Number go up!Vice versa with oversold. ↡Don't ape or jeet when it's oversold/bought.Look at it as a visualization of strength/momentum.Use it to:• See if momentum is fizzling out • Spot reversalsBut how? 👇Momentum As you can see in this clip:• The indicator shows 'oversold' • Price continues to drop• It drops further and the Stoch RSI stays flatThis shows:• Strong downwards momentum• No sign of reversal• Sellers in controllOversold? LOLBut as mentioned above you see clear signs of momentum.Now, what you want to watch in this case:• Is price reaching a S/R zone?• How those PA unfold in that case (strong bounce)?• What does the indicator show you ?Let check it ↡Spotting The ReversalPrice had a nice reaction coming into that demand zone.See how the indicator starts to angle upwards?↠ That's a sign of momentum shift!• Strong move from the indicator to the upside• Indicator follows PA So ape/jeet when momentum shifts?NO!This tool is super powerful if used properly.But in the end it's simply an additional confluence factor.You want to use it in combination with other tools.Volume etc. 1. PA2. Volume3. MomentumMy three boxes a good entry should tick.Check my reversal 🧵 for more..#Write2Earn #RSI

Today, I am discussing with you a very important Analazing Tool called "RSI".

RSI, or Relative Strength Index, is a tool used to analyze how strong and fast the price of a cryptocurrency is moving. It helps us figure out if the price has gone too high or too low.

RSI shows number between 0 and 100. When the number is above 70, it means the cryptocurrency have become too expensive and could soon go down in price. This is called "overbought."

When the number is below 30, it means the cryptocurrency have become too cheap and could soon go up in price. This is called "oversold."

In cryptocurrencies, people use RSI to decide when to buy or sell. For example, if the RSI is above 70, it may be a good time to sell or wait before buying because the price could drop. On the other hand, if the RSI is below 30, it may be a good time to buy or wait because the price could go up soon.

It's important to remember that RSI is just one tool among many tools that are used to understand the market. It's best to use RSI together with other tools and analysis methods to make smart trading decisions.

I hope this article will be beneficial for you.

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Esha

#BinanceTournament #RSI #crypto2023 #Binance #Eshajee