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Shiba Inu & Decentraland Price Prediction | 31 January 2022 | SHIB & MANA Market Update

Shiba Inu & Decentraland Price Prediction | 31 January 2022 | SHIB & MANA Market Update

Dhananjay Lochave

Marketing Manager - Branding

Table of Contents

The Shiba Inu and Decentraland Price Prediction 2022 has grown to be a significant asset class (and has provided many investors with substantial financial gains); by last fall, the aggregate market value of cryptos had reached about $3 trillion.

Let’s Check the Technical Movement of Shiba Inu and Decentraland:

Shiba Inu Price Prediction 2022

Since it’s all-time high on October 28, 2021, the Shiba Inu price has been on an unbroken downtrend. The drop has shattered several support levels and is currently testing the 9-hour demand zone; which ranges from $0.0000158 to $0.0000193.

Shiba Inu prices are expected to remain above this level and to break out of the current consolidation, favouring the bulls. The resulting uptrend is likely to be capped at the 200-day SMA at $0.0000251.

Although unlikely, this 25% increase could be extended to 38% as it retests the weekly resistance barrier at $0.0000283, which roughly coincides with the 50-day SMA at $0.0000297.

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IntoTheBlock’s Global In/Out of the Money (GIOM) model is supporting a bounce from the mentioned demand zone for Shiba Inu price. This on-chain index shows that approximately 101,740 addresses purchased 469,850 billion SHIB tokens at an average price of $0.0000170.

IntoTheBlock’s Global In/Out of the Money (GIOM) model is supporting a bounce from the mentioned demand zone for Shiba Inu price. This on-chain index shows that approximately 101,740 addresses purchased 469,850 billion SHIB tokens at an average price of $0.0000170.

While the Shiba Inu price is rising, the number of large transactions worth $100,000 or more appears to be declining over the last three months. Such transfers have nearly halved from 219 to 104; indicating that these investors are no longer interested in SHIB at current prices.

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Decentraland Price Prediction 2022

The price of Decentraland has risen dramatically in the last week, indicating a break in the bearish trend. This recovery rally appears to have overcome a critical stumbling block and is likely to continue its upward trend.

Regardless; the Decentraland price appears to have formed a base around the $2.06 barrier and reversed the downtrend, with a 27 percent bounce over the last nine days.

This uptrend is currently confronted with a 3-day resistance barrier at $2.59; which it appears to have overcome as of the time of writing.

If MANA confirms that this barrier has been converted into a support level, Decentraland’s price will likely continue to rise. This requires the altcoin to slice through $2.59 and bounce off the same barrier. In this case; investors can expect Decentraland to rise another 15% to retest the weekly resistance level of $2.91 or the 50-day Simple Moving Average of around $3.

Shiba Inu & Decentraland Price Prediction | 31 January 2022 | SHIB & MANA Market Update S3Hy1usFcRad7qmsjma2KRua98DEDB41t5zLjoeaRpXUtYYART42LySzDouHnJWZxLd05VQdDx3sbvS5xdi6hYr 3L2hwV2AD80qda6eNqVCfm8DOx 2A3EMkVcfXiDRMi9fidRV | BuyUcoin

Another scenario considers the possibility of rejection at $2.59, which would result in a pullback to $2.20. If the price of Decentraland rises 33 percent after breaking through this barrier; it will retest the psychological level of $3.

While the price of Decentraland is rising; failure to break through the $2.59 resistance level indicates that the uptrend is tiring and that a pullback is imminent. MANA buyers can regroup at the $2.20 support level for another leg up.

A daily candlestick close below the $2.06 barrier, on the other hand; will result in a lower low, undermining the bullish thesis. In this case, the Decentraland price may return to the $1.49 level.

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