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Decentraland (MANA) Losing Its Momentum
Decentraland (MANA) has dropped close to 15 percent in the last two days, could the critical period for MANA have started?
With Bitcoin (BTC) pulling back in the short timeframe, many altcoins tested support levels. Decentraland (MANA), which has lost 6.48 percent in the last 24 hours, has become the fifth coin of the day, which has fallen the most. MANA, which is currently buying at $ 0.384, may face larger investor exits if it loses its next support.
Gaining upside momentum by running well the 0.32 – 0.328 support zone, MANA tested $0.433 and saw selling pressure. This zone, which has acted as a solid resistance on past timeframes, pulled MANA price as low as $0.387. Currently trading at an intermediate price, MANA could target $0.50 – 0.546 and $0.614, respectively, if it exceeds $0.433.
In case of increasing selling pressure, the support zones to watch for MANA are 0.356 – 0.328 – $0.32 and $0.284, respectively. A downside break of $0.284 could increase the sell-side action on the popular coin. In addition, while MANA is being followed, it is of great importance to monitor the developments in the Metaverse world.
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