- Decentraland (MANA) experienced a modest increase of approximately 1.41%.
- MANA’s 24-hour trading volume plummeted by over 47%.
- MANA has outperformed Bitcoin (BTC) and Ethereum (ETH) in the market.
Decentraland (MANA) experienced a modest increase of approximately 1.41% in its trading value during the previous trading session. As per CoinMarketCap, the current trading price of MANA stands at approximately $0.4198. This places MANA between its lowest recorded value of $0.4149 and its highest value within the past 24 hours, which reached $0.4261.
In addition, MANA experienced a significant decline in its 24-hour trading volume, plummeting by over 47% in the past day, resulting in a total trading volume of $41,103,914. With a market capitalization of $795,571,554, MANA currently holds the 53rd position among the largest cryptocurrencies by market capitalization. It closely trails behind Theta Network (THETA), which occupies the 52nd spot.
MANA’s price surge in the last 24 hours has further bolstered its weekly performance, which now stands at an impressive +9.54%. Compared to the dominant cryptocurrencies in the market, Bitcoin (BTC) and Ethereum (ETH), MANA has outperformed both. At the time of writing, MANA has gained 0.28% against BTC and 0.84% against ETH.
Technically, MANA’s price has exhibited a bullish trend in the last 6 hours. Additionally, a bullish shooting star candlestick pattern has emerged on the altcoin’s 2-hour chart within the recent couple of hours. If this candlestick pattern is confirmed, it suggests that MANA’s price might sustain its upward movement throughout the remainder of the day.
During this anticipated surge in MANA’s price, the altcoin will likely try to convert the resistance level at $0.4266 into a support level. Surpassing this significant price barrier successfully may pave the way for upward movement towards $0.4468 within the next 24-48 hours.
However, should the price of MANA decline below the minor support level of $0.4188 within the next 8 hours, it would render the bullish thesis invalid. In such a scenario, the cryptocurrency may risk losing support at the $0.4141 level within the next 24 hours.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
