Decentraland (MANA) To Catch Breath before Revisiting $3

• MANA price gained 14% but met challenging resistance near $2.54, translating to a downside correction.
• Enthusiasts may expect Decentraland to hit $2.29 before trying to topple $3.
• A 4hr candle close beneath $2.20 will annul MANA’s bullish thesis.

Decentraland (MANA) displays weak momentum following a rally within the past week, translating to a correction. The pullback seems essential before the Metaverse token register further uptrends. However, bears might emerge to ruin the game.

MANA Price Ready for Massive Surges

Decentraland had its price-setting a range between $2.22 and $2.53. That came after MANA gained 15.17% from 14 March to 17 March. A bullish uptick accompanied the move, allowing Decentraland to sweep its highs.

Though optimistic, the upward move could not be steady beyond $2.54 and triggered correction. For now, MANA trades around the $2.40 mark and shows that the pullback might go deeper. MANA will likely reverse the downside trends after hitting a 70.5% retracement area at $2.32.

Ideally, MANA should launch trend reversal around the $2.89 – $2.34 range. But extreme cases will see the token tagging footholds at $2.22, then $2.20, before recording a ‘180.’ Decentraland will retain the bullish stance if it prevents a decisive 4hr candle close under $2.20. Despite where the crypto kick-starts reversals, investors might await MANA to retest the psychological level at $3.

Though everything seems up for MANA, buyers should fight any emerging bears’ regime. Nevertheless, a 4hr candlestick close beneath $2.20 will cancel the bullish thesis revealed above. Overturning the $2.20 foothold into resistance on MANA daily chart will be critical since it will open the door for further drops. That scenario might see MANA crashing 32% before discovering a dependable support floor around $1.49.

Decentraland sees massive downtrends at the moment, reflecting a 3.2% 24hr drop as it changes hands at $2.40. The downtrend seems healthy before the alt kick-starts an upside move towards the $3 psychological zone. However, Decentraland should maintain its price movements beyond the $2.20 support to keep the bullish motion in play. Failure to do that will ruin the optimistic case and lead to downside actions.

Stay tuned for more updates.

Editorial credit: David Esser / shutterstock.com

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.