MANA is a token that powers a virtual reality platform called Decentraland. MANA is an in-game token that can be used to buy plots of land and goods and services within the virtual reality space. Let us <a href="https://www.cryptoknowmics.com/news/mana-technical-analysis-broken-highs-of-0-83-price-in-an-upward-slide/">look at the technical analysis</a> of MANA.
<h2><strong>Past Performance of Decentraland</strong></h2>
On September 18, 2021, MANA started trading at $0.815. As of September 24, 2021, the closing price of MANA was $0.702. Thus, in the past week, the MANA price has ranked by roughly 13.54%. In the last 24 hours, MANA has traded between $0.64-$0.75.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/x/X0L58OoJ.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/X0L58OoJ/">https://www.tradingview.com/x/X0L58OoJ/</a>
<h2><strong> MANA Technical Analysis</strong></h2>
Currently, the price is trading below the support line of the parallel channel. It broke down from the rising trend. The price is currently trying to break out of the resistance zone and enter the parallel channel again. However, yesterday’s BTC shakedown changed the course of the price. Let us see what the price action is suggesting about the price movement:

Currently, MANA is trading at $0.705. The price is near its renaissance and zone. It is trying to enter into the parallel channel, we have to wait and watch the price action. If the buying pressure increases, we can assume the price to breakout and enter the parallel channel.

The <strong>MACD and signal lines</strong> are in the negative zone. However, a bearish crossover by the MACD line over the Signal line has occurred. Thus, the overall Decentraland market momentum is bearish, and we can expect a price to fall. However, both the lines are close to the zero line and may change signs soon. Thus, a trend reversal is on the horizon.

The <strong>OBV indicator</strong> is gradually increasing. Thus, buying volumes are higher than selling volumes. Hence, we can predict that the investors are not losing their interest in the token.

The <strong>RSI indicator</strong> is at 42.46%. It has just resisted from the 44.90% mark. Thus, selling pressures are slowly mounting. Hence, we can expect the price to start falling again in a few hours. Also, the RSI can form a base around this level and start to rise after taking support from this zone.
<h2><strong>Day-Ahead and Tomorrow </strong></h2>
The MANA price has fallen below the <strong>Fibonacci pivot point</strong> of $0.777. As some of the oscillators have shown bearish signals, we can expect the price to fall below the <strong>first Fibonacci pivot support level</strong> of $0.655 soon. Traders can take a short position by keeping a stop loss at $0.805.

The price has tested and fallen below the <strong>FIB retracement level</strong> of $0.80. If the price falls below the<strong> 23.6% FIB extension level</strong> in some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well.

However, if the price breaks out of the immediate resistance of $0.777. It will highlight the next resistance level, which is at $896. Traders can go long by keeping a stop loss at $0.655.

MANA Technical Analysis: Expect the Price to Fall Below the First Fibonacci Pivot Support Level of $0.655 Soon

Decentraland (MANA) has tested and fallen below the FIB retracement level of $0.80. If the price falls below the 23.6% FIB extension level in some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

MANA Technical Analysis: Expect the Price to Fall Below the First Fibonacci Pivot Support Level of $0.655 Soon

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