Decentraland Price Analysis: Latest MANA to USD Price Prediction for 18th March 2023
As of today, 18th March 2023, the price of Decentraland (Mana) is $0.5730227 USD.
During the intraday trading session, Decentraland was trading at $0.5764, down 0.15%. The token’s prices are currently below the 20, 50, 100, and 200-Day EMAs, indicating a downtrend.
The MANA/BTC pair was trading at 0.00002576 BTC, down 0.16% during the intraday trading session. This suggests that sellers are currently dominating the market, and the token is experiencing a bearish phase.
Decentraland’s price analysis shows that the token experienced a significant drop in 2022, with sellers dominating the market for most of the year. However, the bulls returned after May 2022, and the token floated above its secondary resistance of $0.861.
Unfortunately, sellers once again gained control, pushing the token below its primary support level of $0.610. The token continued to trade below this level for the rest of the year and set a new 52-week low on the last day of the year.
In 2023, the token started to recover, breaking its primary support and resistance levels. However, once it reached its secondary resistance, it fell again. Sellers took over due to the formation of the shooting star candlestick pattern, causing the token to fall below its primary resistance.
In the last 24 hours, the coin’s volume has decreased by 19.44%, indicating an increase in the number of sellers. This suggests that sellers are trying to take control of the market, and the current bearish phase is strong.
