In this Decentraland technical analysis, we will examine the current price action, trading volume, key levels and indicators for MANA-BTC. Decentraland is a blockchain-based virtual reality platform that allows users to create, experience, and monetize content and applications. MANA is the native cryptocurrency of Decentraland, used for purchasing land and assets within the virtual world. With its innovative use of blockchain technology, Decentraland has opened up new possibilities for interactive entertainment, social engagement, and immersive experiences.
Decentraland Price Overview:
As of May 11, 2024, Decentraland is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for MANA-BTC:
| Metric | Value |
|---|---|
| Open (O) | 1e-05 |
| High (H) | 1e-05 |
| Low (L) | 1e-05 |
| Close (C) | 1e-05 |
| Volume (C) | 146,490.00 |
- Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
- High (H): Decentraland reached a daily high of around 1e-05 BTC.
- Low (L): The daily low for MANA-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, Decentraland is trading near its daily close of 1e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.88% |
| 3D Change (%) | -1.72% |
| 7D Change (%) | -2.00% |
| 30D Change (%) | -20.97% |
| 90D Change (%) | -29.57% |
| YTD Change (%) | -44.27% |
Over the past three days, MANABTC has decreased by approximately -1.72%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -2.00%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MANABTC maintaining a downward trend of approximately -20.97%, despite intermittent fluctuations. Examining the last 90 days, MANABTC has witnessed substantial drop of approximately -29.57%, reflecting strong long-term confidence. Year-to-date, MANABTC has steadily decreased by around -44.27%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Decentraland Live Chart:
You can access a live price chart for MANA-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.28882.
- Momentum score is -0.05118.
MANA BTC Technical Analysis
Decentraland Trading Volume:
The trading volume for Decentraland (MANA) over the past 24 hours has been insignificant, with approximately 146,490.00 BTC traded against MANA. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): MANA is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Decentraland is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for MANA-BTC is currently in the low zone, around 38.72221. This suggests that Decentraland is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Decentraland (MANA-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Explore Decentraland’s (MANABTC) potential challenges at 6.86e-06 BTC as technical analysis leans bearish, emphasizing weakened support and cautionary indicators.
Don’t skip our thorough exploration of MANA USDT Decentraland Technical Analysis if you resonated with this post; it’s the perfect next step for deeper understanding.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.