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Analyst Announces Next for Metaverse Coin MANA!

Analyst Announces Next for Metaverse Coin MANA!

Decentraland (MANA) price continued its upward momentum, adding around 40% since its renewed rise on Thursday. After a brief period of consolidation in the first week of November, Facebook's recent rebranding as Meta had begun a resurgence in its trend. According to analyst Dhwani Mehta, MANA price can now start its ATH journey. Here are the technical levels…

MANA price heading towards all-time highs

The relentless rise in MANA price is unstoppable as Decentraland bulls extend the three-day bullish momentum on Saturday. The price is consolidating near two-week highs and is gaining momentum for the next rise as the technical setup on the 12-hour chart remains in favor of the bulls. Further upside moves remained intact, especially in light of a falling wedge break confirmed in the stated timeframe on Friday. MANA price closed the 12-hour candlestick above the falling trendline resistance and then close at $2.60. This provided a major technical break.

The RSI is holding tighter above 70.00 but is not yet in the overbought territory, leaving additional room to the upside. Therefore, buyers can resume their $4 journey if the intraday highs clear. The analyst thinks that the next bullish target may result in record highs.

Analyst Announces Next for MANA!

Conclusion

According to Dhwani Mehta, whose analysis we shared as Cryptoify, any pullback from higher levels in the MANA price will bring $3.04, the Friday low, back into the game. Its sellers may then turn to the slightly bullish 21-day SMA on additional weakness.

MANA bears will then target the slightly bullish 21-day SMA at $2.78 on additional weakness. If the corrective pressure continues, the MANA bears may have to challenge the wedge resistance currently at $2.47.

Source: FXSTREET

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