The Decentraland Price Prediction 2022 has seen significant increases this week as investors express interest in the metaverse. One of the elements leading buyers to appear for the currency announced collaboration with Samsung.
Let’s Examine Decentraland’s Technical Movement:
Decentraland Price Prediction 2022
The price of Decentraland (MANA) has entered the profit-taking zone following recent recoveries from the lows of January 20 with an upward rebound of about 45 percent.
It will be fascinating to see if MANA can reach this level. Decentraland’s current price is $3.34, with a 24-hour trading volume of $1,270,848,883. Decentraland has increased by 5.63% on 8th of Feb.
MANA has dropped roughly 70% from its all-time high of $5.91 set in November on the daily chart. The price broke the 50-day moving average (DMA) on February 5 after breaking below the critical level on December 13.
The development of the ‘Hammer’ candlestick pattern; a bullish formation established near the January lows, propelled the price up 35%.
A definitive closing below the stated moving average would lead to exploring the demand zone located around the $2.50 horizontal support line. The Daily Relative Strength Index (RSI) has traded in the overbought region with a downward bias.
If the price can cross over the session’s high, investors will be looking for the highs of December 27 at $3.97. MANA now outperforms 95 percent of cryptos in terms of long-term technical analysis. However, this ranking criterion is beneficial since investors can ‘buy the dip.’
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Good work