The Decentraland price (MANA), has hovered in the $0.75-$1.05 range, despite intensified upward movements.
- MANA prices on daily charts are trying to maintain the consolidation of the higher trendline, which is different from the 2021 lows.
- While the Decentraland price is still above 20 EMA/50 EMA, it has been warming up to 100 and 200 DMA.
- MANA has risen by 0.13 percent and is currently at $1.05
Decentraland, (MANA), is a group that has been in this same location since June 2022. MANA looks for escape routes from the consolidation phase. Bulls, however, are not able to maximise their gains. However, bulls have the guts to breach the horizontal range.
Meanwhile, MANA’s price has been steady in the range of $0.75 to $1.05 as it hovers with intensified upward movement into the upper lane of the consolidation phase. To allow the token to rise above this restricted zone, bulls must hold firm to the trendline.
Decentraland Price Increases 0.13%
According to CoinMarketCapAs of the writing, MANA’s price was $1.05 and has risen by 0.13 percent.
Decentraland’s price has managed to jump from $1.037 to $1.05 in the past few hours which also registered an increase in the market value of 4.90%. In addition, intraday trading sessions saw an increase of 2.76 percent in volume.
These figures suggest that MANA is trying to get out of the consolidation phase by allowing investors to do so.
MANA is Trying to Get Past the Consolidation Phase
According to the daily price chart it appears that MANA price wants to enter the consolidation phase. MANA bulls need to come together and support the token breach. However, bears are able to easily interfere and block bulls due to increased trading volumes.
MANA must now be able to move past the horizontal range with ease. The good news is that technical indicators show MANA’s heightened momentum. The token’s RSI is at 59 and is moving near the overbought levels.
The popular metaverse project MANA has seen extreme volatility, just like all digital assets. MANA’s price has shown volatility since May 2022, with fluctuations and highs and lows. It has also not been steady. Its ATH value of $5.90 was 81.66% lower than the current price.
MANA market capital at $1.85 Billion according to the daily chart. Source: TradingView.com| Source: TradingView.com Featured Image from Voonze. Chart from TradingView.com