Decentraland(MANA)/USDT Technical Analysis: 14 December 2021

Decentraland(MANA)/USDT Technical Analysis at a Glance

The beginning of the last month of 2021 appeared to be pretty good for crypto space but currently, woefully, could not sustain for a long time. The Decentraland price kept on sliding and trending along the downtrend line. Each attempt of the decentraland MANA coin price to break through the consolidation failed and currently it is on the verge to revisit lower levels. However, a minute retrace is visible, yet cannot be validated uncertain certain levels are reached. 

Decentraland(MANA) Technical Indicators

Decentraland(MANA) went on to become the top NFT surpassing the most popular AXS, THETA, XTZ, etc ever since the asset showcased a gigantic rally. The asset rose more than 5800% to hit the ATH very close to $6 at $5.9. However, ever since then the MANA crypto price is sliding through the downtrend and not appearing in a position of a notable rebound.

MANA coin price currently is testing crucial levels around $3.17 where-in a break-out is mandatory. If breakout is not possible, the asset is required to chop around the current levels, holding the strong support levels. And hence a plunge towards the lower support levels could be halted. 

Moving Average

Both 100 & 200-day MA are going parallel to each other without any possibilities of a cross over in the short term. The price may find the initial resistance at 100-day MA initially and later test the 200-day MA levels. However, in the long term, both the MA levels are backing the rally being support levels below the crucial support levels at $2.4, hence bullish. 

Bollinger Bands

The price after hitting the lower band had flipped in the long term and was heading towards the middle ranges. But with the recent drag, the price is on its way towards the lower bands yet again. However, in the short term, the price has been swinging around the middle levels for the past couple of hours. And a minor pull above the middle bands is quite possible. 

MACD

The MACD in the short term showcases a slight buying volume that has been mounting up, yet has not validated the bullish trend yet. However, in the long-term, the asset is extremely bearish with a heavy selling volume pressurizing the price to remain below the levels.

Relative Strength Index(RSI)

The RSI which shows the strength of the rally is attempting to be bullish yet failing with each time. The RSI levels dropped below the lower average levels and smashed the oversold region. However, with a rebound, these levels elevated to the average zone yet again faced rejection but could soon coil up. On the contrary in the long term, the RSI is on the verge to bottom hard, showcasing the losing strength in the rally. And hence a substantial plunge may be on its way.

Decentraland(MANA) Price Analysis for the Week

Decentraland MANA coin price since the beginning of the month has been maintaining a substantial downtrend. Each attempt of the asset to break through the consolidation remains unsuccessful, yet the asset appears to keep the trials active. Fortunately, the buying volume is at a higher-end and hence the asset can dive more into consolidation until it reaches the apex and finally break out towards the north. 

Source: Tradingview Date: 14-12-2021 Time: 4:15pm

• The MANA price is trending within the descending triangle since the beginning of the current trading month.
• After hitting the lower support levels of the triangle, the asset rebounded a couple of times. However, currently, the asset is hovering on the support levels for the past couple of hours indicating a healthy accumulation
• A notable buying pressure is on the verge to mount on the space and hence a minor flip may be well placed
• In the STF, the MANA price has already made a reversal yet an uptrend remains misty until the levels above $3.4 are achieved.

Decentraland(MANA) Price Analysis for Today: 14 December 2021

The Decentraland Mana price began the daily trade with a bearish note, plunging below $3.3. And ever since then the asset maintained lower levels and also revisited levels at $3 & this is when the buyers quickly jumped into uplifting the price above $3.1. However, a tough fight is witnessed between the buyers and sellers to establish their supremacy. 

The Decentraland MANA price at press time is $3.19 with a drop of 6.71% while the trading volume remains elevated by about 15% up. And hence price prediction for the upcoming days considering the present trend remains a little misty yet bullish in the long term.

Additional Read: Decentraland Mana Price Prediction

Where to buy Decentraland(MANA) 

Decentraland (MANA) crypto has been listed on many of the popular exchanges in India and over the world. However, in India CoinDCX is the one-stop solution if you are looking for a secure and safe platform to deal with. Moreover, the CoinDCX Mobile App offers a wide range of your favourite cryptocurrencies with a unique user experience at affordable rates.

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