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.
Technical indicators:
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.
Disclaimer
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
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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/
