The crypto space has been abuzz with optimism recently, and Decentraland’s in-house token, MANA, is making waves with its green numbers. Following a period of tranquillity, MANA price has displayed a robust bounceback, and technicals indicate that it may be just getting started. So, what’s the momentum, and are traders noticing?
Demand Is Picking Up: MANA Price Action is Gaining Strength
One of the clearest signs that MANA price action is gaining strength comes from a metric called On-Balance Volume (OBV). Think of OBV as a tool that helps us understand whether more people are buying or selling. When it moves up, it means buying pressure is outweighing selling. Currently, MANA’s OBV stands at 9.47 billion, the highest it’s been since December 2024. That’s no small feat and indicates a noticeable spike in investor interest. More crucially, the MANA price rally is not just a fluke; it is to improve the market growth.
Trading Above the 20-Day EMA: A Bullish Signal
Another piece of the puzzle comes from MANA’s position above its 20-day Exponential Moving Average (EMA). This indicator smooths out recent price data to give a clearer picture of short-term trends. When a token trades above this line, it typically signals positive momentum. Currently, MANA is comfortably trading above its 20-day EMA, which is around $0.26. This is a bullish sign and suggests the token is in an upward trend. Traders usually consider this a good time to stay in the trade or consider entering, especially when other signals also point to strength.
Trend Line Tells a Clear Story
If you check MANA’s price chart, you’ll see it’s been on an uptrend. That simply indicates that it’s consistently making higher lows, something classic that indicates that buyers are buying in regularly. Sticking to this trend line adds to the case that MANA isn’t just having a lucky streak. It reflects strong support from the market, where each dip is being met with new buying. The bullish outlook holds up as long as MANA respects this trend line.
Eyes on Resistance and a Possible Breakout
The current resistance level for MANA is around $0.34. If the token manages to push above this mark, it could quickly make a run toward $0.44. That’s roughly a 41% increase from current prices. Not bad for a short-term opportunity.
However, it’s worth noting that resistance can be tricky. If MANA struggles to break past it, the price may consolidate or even pull back before making another attempt.
Risks Still Exist—Stay Alert
Of course, no crypto trade is without risk. Even though the momentum is strong right now, there’s always the possibility of a sudden reversal. MANA could drop to support levels around $0.19 if a sell-off happens. That’s a significant fall—nearly 40% from where it stands. That’s why traders need to stay alert. Watch the charts, follow the volume, and be ready to make moves if things shift. Crypto markets can turn quickly, and timing matters just as much as trend.
Is MANA Price Set to Keep Rising?
MANA demand is rising with strong technical indicators, and a supportive trend line backing the move. While nothing is sure in the crypto industry, things look good right now. If you are thinking of entering the market or you do have MANA, then the time may be appropriate to observe and determine what to do next. Just keep in mind that even in bulls, there is still a need for careful risk management.
Source: Coinfomania / Digpu NewsTex