Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

  • The daily chart was strongly bearish. 
  • The lower timeframe charts were bearish too.

Decentraland [MANA] broke below its consolidation range of $0.8254 – $0.6314 in early March, attracting aggressive selling afterward. At press time, the virtual reality blockchain platform’s token struggled to maintain its half-dollar value. 


Read Decentraland [MANA] Price Prediction 2023-24


Similarly, Bitcoin [BTC] struggled to maintain the $20K value as overall market uncertainty persisted and could expose MANA to price fluctuations too. 

A consolidation, sustained dump, or recovery for MANA

Source: MANA/USDT on TradingView

MANA curved a bullish flag pattern, but a potential bullish rally was undermined by increasing market uncertainty. Bulls lost crucial leverage after bears breached the $0.6314 support on March 3.

The aggressive selling afterward has further sunk MANA below another key support at $0.5326. At the time of writing, MANA oscillated between the 100-day MA (Moving Average) of $0.5422 and $0.4986. 

 If BTC fluctuations persist, MANA could enter a sideways market structure. As such, investors could target the upper and lower boundaries of the $0.5422 – $0.4986 range for gains.

However, a breach of the range will invalidate the above sideway structure. Notably, a bearish breakout could settle at $0.4600 or $0.4200.

On the other hand, a bullish breakout and a daily candlestick close above $0.5326 could inflict recovery with an immediate target at $0.6314.


Is your portfol

Go to Source to See Full Article
Author: Suzuki Shillsalot

Did you like this?
Tip BTC Newswire with Cryptocurrency

Donate Bitcoin to BTC Newswire

Scan to Donate Bitcoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate Bitcoin Cash to BTC Newswire

Scan to Donate Bitcoin Cash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate Ethereum to BTC Newswire

Scan to Donate Ethereum to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Ether:

Donate Litecoin to BTC Newswire

Scan to Donate Litecoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate Monero to BTC Newswire

Scan to Donate Monero to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Monero:

Donate ZCash to BTC Newswire

Scan to Donate ZCash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some ZCash:

BTC NewswireAuthor posts

BTC Newswire Crypto News at your Fingertips

Comments are disabled.