Decentraland Momentum Pushes MANA Into Consolidation Phase’s Higher Rung

Decentraland (MANA) price has been steady in the range of $0.75 to $1.05 as it hovers with intensified upward movement.

• MANA price on the daily chart is trying to hold the consolidation of the upper trendline from the lows seen on 2021
• Decentraland price has managed to hover above 20 EMA and 50 EMA and warming up for the 100 and 200 DMA
• MANA price has spiked by 0.13% and currently trading at $1.05

Decentraland (MANA) has been sitting within the same region since June 2022. While MANA is looking for ways to escape the consolidation phase, the bulls are unable to maximize their gains. On the other hand, bulls are headstrong to make a breach from the horizontal range.

Meanwhile, MANA’s price has been steady in the range of $0.75 to $1.05 as it hovers with intensified upward movement into the upper lane of the consolidation phase. In order for the token to soar above the restricted area, the bulls should firmly hold on to their posts at the trendline.

According to CoinMarketCap, the MANA price has surged by 0.13% and is trading at $1.05 as of this writing.

Decentraland’s price has managed to jump from $1.037 to $1.05 in the past few hours which also registered an increase in the market value of 4.90%. More so, the intraday trading session also logged a spike of 2.76% in terms of the trading volume.

The above figures imply that investors are trying to help out MANA to exit from being pinned into the consolidation phase.

Judging by the daily price chart, it looks like MANA price is trying to breach the consolidation phase. In order to do so, MANA bulls must put their heads together to successfully bolster the breach of the token. On the other hand, due to the increase in trading volume, the bears can easily interfere and stop the bulls at any time.

Now, for MANA to cleverly breeze past the horizontal range, they must be up to speed. The good news is that technical indicators show MANA’s heightened momentum. The token’s RSI is at 59 and is moving near the overbought levels.

This popular metaverse project has experienced extreme volatility like other digital assets, especially in the gush of the crypto winter. More so, MANA price has been bearish since May 2022 exhibiting fluctuations or highs and lows and has not shown a steady gait. It had its ATH of $5.90 which is 81.66% lower compared to its current value.