Can mana reverse out of the crucial $3.1 zone?

Decentraland Mana (MANA/USD) fell by over 20% on Saturday after a huge market sell-off was observed. Mana had attracted the attention of many investors due to its jüngsten rally. Investors who missed the rally were looking for opportunities to get into mana. After a Stück land was sold on Mana for almost 1 million USD, many people began to realize the potential of the Metaverse coin. Mana has been experiencing tremendous demand lately as over $100 million was sold to Metaverse land last week.

Mana has fallen by over 40% against its highest level last month. Investors are now trying to buy mana in the hope of another rally soon. Mana is now traded in a critical zone that could be a make or break zone. Now the question arises: should you buy the dip from mana?

  • Mana has dropped a lot in the last few days and is now about 40% below its all-time high.

  • The Rückgang could be a Rütracking of the price after the jüngst increase in the Mana price. Therefore, it might be a good time for investors to buy mana.

  • Mana has a strong support level at $3.09, which has collapsed since today. However, Käbanks took the opportunity to buy mana at a reduced price and returned the price to the support.

  • Mana also appears to be receiving support from the 50-day moving average, which could be a bullish indication.

  • Investors should be cautious and should only enter when there is a clear reversal, as mana could still fall below the support level.

  • If a reversal is seen, Mana could reach some big goals like $4.3, $5.3, and even a new all-time high in the coming months. Nevertheless, investors should set a stop loss below the zone.

The post Can mana reverse out of the crucial $3.1 zone? appeared first on Coin Hero.

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

You might also like...