Decentraland (MANA) is trading higher on Monday with notable gains. Mana has risen along the rising trendline from the lows of $1.70 to test the swing highs of $3.55 on Feb. 9.
Decentraland (MANA) is posting gains as the new trading week begins. Expect a 30% rise if the price trades above the 200 EMA. A drop below USD 2.40 could dismiss the bullish outlook for the asset.
At the time of writing, MANA/USD is trading at $2.70, up 5.86% for the day. According to CoinMarketCap, the 24-hour trading volume of the 30th largest cryptocurrency by market cap stands at $856,138,404.
MANA signals for more profit
Source: Trade View
On the daily chart, Decentraland (MANA) has started its downward trend since hitting its all-time high on November 25. The downward move proved devastating to the metaverse currency as it fell nearly 71% in January.
Before rising 85%, it hit its three-month low on Jan. 24 as buyers intervened to defend the $1.70 level. As of now, bulls are trying to get the price action under control as they seem eager to keep the target.
Now, a daily close above $2.75 would position MANA for a possible retest of the $3.53 zone and revert to its previous trend. This would consist of a 30% increase from current levels.
Looking at another possibility, MANA still remains below the 50-day exponential moving average (EMA) at $2.85. A spike in the sell order could spur the price to break another crucial moving average of $2.40.
The first downward target was found at $2.20, followed by the January 24 lows at $1.80.
RSI: The Daily Relative Strength Index (RSI) has seen a recovery from 34 to 46 since Feb. 21. Any rise in the indicator makes bulls hopeful of further recovery.
MACD: The moving average convergence divergence (MACD) floats below the centerline with a neutral bias.
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This post Decentraland (MANA) Price Prediction: Mana Prepares for 30% Leap as Sails Above 200 Days EMA
was published first on https://coingape.com/markets/decentraland-mana-price-prediction-mana-prepares-for-42-jump-as-sails-above-200-day-ema/