Price prediction for Decentraland: Today’s Decentraland (Mana) price, February 6, 2023
Decentraland price prediction: Here is the most up-to-date prediction for the price of Decentraland (Mana) and the price of Mana in US dollars.
Decentralized Price as of Today
Today, the price of Decentraland is $0.7779267 USD.
DATE: Today in Mana USD: 1 $0.7779267
Decentraland Price Prediction:
The price of Decentraland (MANA) is in a corrective pattern that could lead to a break.
Since the beginning of the year, the price of Decentraland has gone up quickly. On January 27, it hit a high of $0.82. The change caused a long-term downward resistance line that had been in place since May 2022 to be broken.
If the trend keeps going up, $1.10 would be the next level of resistance. Since August, no one has been there (red icon).
Even though the price action is bullish, the daily RSI makes me doubt that the uptrend will continue. This is because the indicator showed a lot of bearish divergence (the green line), which caused it to drop below 70. Both of these are signs that something bad is going to happen.
The short-term six-hour chart’s technical analysis predicts a decentralised price for February, which is the same as what the daily chart says. This is because of two things:
Related: Decentraland Price Forecast: Decentraland (Mana) Price on January 16, 2023
First of all, since January 16, the MANA price has been moving up and down in a parallel channel. These channels often have movements that are meant to fix things. So the most likely outcome is that it will fall apart.
Like the daily time frame, the six-hour RSI has a bearish divergence (green line). So, a channel break is the most likely thing to happen.
If this happens, the price of Decentraland is likely to fall to $0.55, which is a level of support. Not only is $0.55 the support level for the 0.5 Fib retracement, but it is also the line of resistance that was already drawn.
Because these support levels are close together, the most likely thing to happen is a bounce when it gets there.
Lastly, the most likely Decentraland price prediction for February is a drop toward $0.55 after a break below the short-term ascending parallel channel. After that, the trend could keep going up.
If the price of Decentraland breaks out of the channel, this bearish price prediction would be wrong. In this case, the price of MANA is likely to go up to $1.10.