Decentraland Price Prediction: Today’s Decentraland (Mana) Price, 2nd March 2023
Decentraland price forecast: You can find the most recent Decentraland (Mana) price prediction and the Mana to USD exchange rate here.
The current Decentraland price is $0.6536602 USD.
Decentraland Price Prediction:
Before starting to climb again, the price of Decentraland (MANA) might finish the last leg of its correction.
The price of Decentraland has descended beneath a resistance line since hitting a yearly high of $0.842 on February 2.
The price has moved above the long-term $0.625 horizontal support region throughout the decline. It is a bearish pattern for these two structures to combine to create a descending triangle. The price is anticipated to decrease from there as a consequence.
The closest support level for the price is at $0.500. This is the level of support for the upward movement’s 0.618 Fib retracement (white).
Decentraland Today’s Price
On the other hand, a breakout from the descending support line might trigger a rise towards $0.80.
Given the existence of a bearish pattern and the fact that the daily RSI is below 50, a breakdown is the most probable outcome (red icon).
The MANA token price has finished a five-wave upward movement, according to the technical analysis of the short-term six-hour chart, and may now be in the C wave of an A-B-C corrective structure (black).
If so, the horizontal support level of $0.625 will be quickly breached by the price of the digital asset, ending the decline.
Today’s Decentraland (Mana) Price
However, as was previously mentioned, a break through the declining resistance line would invalidate this short-term bearish Decentraland price forecast for March and could cause a decline towards $0.80.
In conclusion, the most probable Decentraland price forecast for March is a decline to the $0.500 support level followed by continued growth.