Decentraland Price Prediction: MANA nurtures uptrend toward $1.8

  • Decentraland is pivotal at the ascending channel's middle boundary while looking forward to another liftoff.
  • The MACD will flip bullish if it crosses above the signal line.
  • A significant correction may come into the picture if MANA loses the 50 SMA support on the 4-hour chart.

Decentraland is generally in an up-trending market, following the slight dip toward the end of February. Meanwhile, upward movement has been capped under $1.4. On the downside, support has been established at the 50 Simple Moving Average (SMA) on the 4-hour chart. An upswing is likely to come into the picture in the event MANA closes the day above $1.1.

Decentraland lock-step trading eyes new all-time highs

MANA is pivotal at the ascending channel's middle boundary. Holding above this level will be a bullish signal and will likely extend the breakout toward $1.8. Decentraland is exchanging hands slightly above $1.02 amid the bulls' persistent push to hit another new all-time high.

The 4-hour chart highlights a bullish Moving Average Convergence Divergence (MACD). The MACD line (blue) is just about to cross above the signal line. This will encourage more buyers to join the market. An increase in the tailwind force would bolster Decentraland upwards.

MANA/USD 4-hour chart

MANA/USD 4-hour chart

The SuperTrend indicator continues to give a bullish impulse, reinforcing the potential upswing to new all-time highs. This indicator is used to identify the general market trend. It also shows when to go long or short on an asset. If the SuperTrend indicator stays green and under the price, Decentraland will renew the bullish momentum.

MANA/USD 4-hour chart

MANA/USD 4-hour chart

Looking at the other side of the picture

Decentraland must hold at the channel's middle boundary on the 4-hour chart to ensure that the uptrend is sustained. However, the 50 SMA will absorb the selling pressure if losses extend toward the channel's lower boundary. A significant correction may come into the picture in the event overhead pressure intensifies in the coming sessions.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

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