Decentraland is a blockchain protocol for providing the metaverse to individuals.
MANA / USD was bearish but maintains support for $ 0.78.
Be aware of potential breakouts or MA support for checking price fluctuations.
Decentraland’s MANA / USD has held key support of around $ 0.78 since mid-May. Support was in line with oversold conditions and the RSI on May 13 was 19. However, the potential surge has been curbed as the overall crypto sentiment remains weak.
Decentraland aims to power up organizations, entities, and individuals into virtual worlds or metaverses. Last year’s series of activities significantly improved the MANA stage of native tokens. Decentraland allows people to acquire virtual assets such as avatars and lands. They can also play games. In mid-June, Yahoo said it plans to hold a virtual event at Decentraland for Hong Kong residents. Samsung and JP Morgan are other entities trying to enter the Metaverse through Decentraland.
Decentraland will benefit as virtual assets and the Metaverse grow. Its native token MANA / USD will definitely make a comeback. However, despite MANA / USD holding a support zone, the situation is still bearish. We believe that $ 0.78 is an important area for investors looking to buy MANA / USD.
MANA prices maintain support at $ 0.78 despite the bear market
Source – TradingView
MANA / USD holds support for $ 0.78. Prices are strong, suggesting that potential breakouts may occur soon. The 14-day and 21-day moving averages provide a small amount of support, but we cannot see any bullish movements at this time.
MANA has two scenarios. The bullish reversal is confirmed by a 14-day MA crossover over 21 days. The price should be above both moving averages. A break below the $ 0.78 support confirms bearish momentum. Currently, MANA / USD continues to integrate due to the prevalence of weak emotions.
Decentraland’s MANA is integrated without any directional movement. With $ 0.78 support, the price will be maintained. Pay attention to important traffic lights before entering.