Unlike Monday, today the crypto market is filled with red values, DecentraLand (MANA) is also facing the effects of volatility. At the time of writing MANA token price is $0.304, reflecting a drop of 3.50% over the past 24 hours. Even though market observers are optimistic about MANA bullish momentum, the graphs show more dip. The question now is: Will MANA go up in 2025?
MANA Token Price Breaks Long-Term Resistance
For the first time in a while, MANA has shown signs of regaining its bullish market structure. It’s not just about a quick jump – the altcoin has managed to break a long-term support/resistance (S/R) level at $0.29. This move is a significant milestone for the MANA token price, indicating that there’s potential for a bigger rally ahead. Following this achievement, MANA surged by 18% on Monday alone, confirming that the bullish momentum is strong.
However, the token’s upward journey hit a slight roadblock at the $0.34 level, where a supply zone caused some resistance. This is a critical point to watch. If MANA can break through this resistance, we could see it continue its upward trajectory. The price action over the next few days will give us a clearer picture of whether MANA can sustain this bullish trend or face a short-term retracement.
Demand and Buying Pressure Behind MANA Price Surge
A closer look at MANA recent volatility shows a massive surge in the demand for the token. The On-Balance Volume (OBV) indicator, which shows buying and selling pressure, shows that the demand has surpassed the January highs. This massive rise in buying pressure is one of the major reasons behind MANA bullish momentum, and if this continues, it is expected that the price can break the resistance level of $0.35.
A positive trend is that the Relative Strength Index (RSI) is currently over 55. This shows that MANA is experiencing solid bullish momentum and has room to appreciate further, especially in the short term. If the purchasing pressure continues, a breakout above $0.35 and potentially to the $0.355 area can be expected, where there is a liquidity pool available to be tapped.
MANA’s Support Levels and Possible Price Targets
In addition to the strong bullish momentum, MANA is finding support at several key levels. The 20 and 50-period moving averages on the 4-hour chart are showing that MANA’s price is receiving dynamic support. These moving averages have acted as reliable support zones, with the $0.3 and $0.27 levels standing out as particularly important. If MANA’s price faces a retracement, these support levels could act as buffers, allowing the token to bounce back and maintain its price surge.
The Road Ahead: Will MANA Go Above $0.35?
Anyhow, MANA is facing resistance at $0.35 and has had a little drop over the past 24 hours, but there is a chance of a price surge in the upcoming days. The 3-month liquidation heatmap also shows a large concentration of liquidation levels between $0.3 and $0.36. With MANA’s price hovering near this zone, the next few days will be crucial for determining whether the bullish momentum can push the token past $0.34 and towards $0.355.
In short, the MANA coin price needs to increase and gain more investors’ trust to cross a significant number like $0.35. Investors and traders are keenly watching: Will MANA cross this barrier and go up in prices? The coming week is key to the MANA price surge.
Source: Coinfomania / Digpu NewsTex