In early November, Decentraland (MANA) made a significant move by breaking out of its descending resistance line, a trend that persisted since May 2022, starting at $0.38. A notable achievement signaling a potential shift in market dynamics.
However, in a retracement move, MANA revisited and retested this breakout point just yesterday. The current state of being oversold indicates a potential consolidation phase, where the price may stabilize before attempting further moves.
Key points to watch:
Oversold Conditions: With the price currently in oversold territory, a period of consolidation is expected.
Future Targets: Anticipating consolidation, the next potential targets to watch are in the range of $0.50 - $0.58. This range becomes critical for assessing the sustainability of the breakout and potential future upward movements.
However, in a retracement move, MANA revisited and retested this breakout point just yesterday. The current state of being oversold indicates a potential consolidation phase, where the price may stabilize before attempting further moves.
Key points to watch:
Oversold Conditions: With the price currently in oversold territory, a period of consolidation is expected.
Future Targets: Anticipating consolidation, the next potential targets to watch are in the range of $0.50 - $0.58. This range becomes critical for assessing the sustainability of the breakout and potential future upward movements.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.