Decentraland Price Forecast: Decentraland (Mana) Price on January 16, 2023

Decentraland price prediction: You can find the most recent Decentraland (Mana) price prediction and the Mana to USD exchange rate here.

Decentralization and current price

The current Decentraland price is $0.5817359 USD.

Decentraland Price Prediction for Today: $0.5817359

Since the beginning of 2023, the price of the Decentraland token has increased. This increase shows that currency owners have been gradually recovering, which is supported by the increased activity.

At the time of writing, the MANA price was trading at $0.4458, up 53.5% over the previous five days. This U-shaped recovery also demonstrated the appearance of a rounding bottom pattern on the daily time frame chart, providing coin holders with additional room for growth.

Related: Today cryptocurrency prices: Bitcoin, Ethereum, and other altcoins all increase.

The rounded bottom pattern is one of the bullish reversal patterns most frequently used in technical analysis during market bottoms. Just as the prior slump signalled the recovery rally, the emergence of the pattern suggests a trend reversal.

The coin price increased over this period, breaking through many resistance levels and providing buyers with more encouragement to keep heading up. Additionally, the heightened market sentiment led to a surge in MANA price growth of 8% intraday.

This cryptocurrency clearly cleared the rounded bottom pattern’s neckline barrier of $0.428 with today’s bullish candle.

The underlying bullish trend will get stronger if the daily candle closes above the indicated resistance.

If the value of the currency falls below $0.428, however, the bullish thesis will be proven false.

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