Decentraland (MANA) value edges increased on Monday with exceptional, beneficial properties. Mana has been rising alongside the ascending development line from the lows of $1.70 to check the swing highs of $3.55 on February 9.

• Decentraland (MANA) locks up beneficial properties because the recent buying and selling week begins.
• Expect an upside of 30% as the value trades above the 200-EMA.
• A fall under $2.40 may dismiss the bullish outlook for the asset.

As of press time, MANA/USD is exchanging fingers at $2.70, up 5.86% for the day. As per CoinMarketCap, the 24-hour buying and selling quantity of the 30^th largest cryptocurrency by market cap stands at $856,138,404.

MANA indicators for extra beneficial properties

On the daily chart, Decentraland (MANA) initiated its downtrend since attaining its file highs on November 25. The downswing proved to be devastating for the metaverse coin because it scaled down by practically 71% in January.

Before surging  85%, it gravitated towards its three-month low on January 24, whereas the consumers stepped in to defend the $1.70 degree. From right here on, bulls are in the process of taking control of the value motion as they appear eager to sustain the mark.

Now, a  each day shut above the $2.75 mark would place MANA for a attainable retest of the $3.53 zone and traverse again into its earlier development. This would encompass an ascent of 30% from the present ranges.

Looking at one other risk, MANA continues to remain pressured under the 50-day Exponential Moving Average (EMA) at $2.85. A spike in promotional orders may propel value to interrupt other essential moving averages positioned at $2.40.

The first drawback goal might be discovered at $2.20, followed by the lows of January 24 at $1.80.

Technical indicators:

RSI: The Daily Relative Strength Index (RSI) has proven restoration from 34 to 46 since February 21. Any uptick within the indicator will make bulls look forward to additional restoration.

MACD: The Moving Average Convergence Divergence (MACD) hovers under the midline with an impartial bias.

Market Outlook

The recovery of MANA above the 200-day EMA is a strong technical signal that could invite more bullish traders. However, staying above the $2.40 support will be crucial to sustain this rally and aim for the $3.53 zone.

FAQs

Q1: What is the current price of MANA?
As of now, MANA is trading around $2.70 with a daily gain of 5.86%.

Q2: What’s the upside potential for MANA?
A daily close above $2.75 could pave the way for a 30% rally toward $3.53.

Q3: Which support levels should traders watch?
Key support levels include $2.40, $2.20, and $1.80.

Q4: What indicators show a bullish trend?
Recovery in RSI and neutral MACD readings suggest potential bullish momentum.

Wrapping Up

MANA is showing strong recovery signs as it sails above the 200-day EMA — a key bullish signal. If buying pressure continues, the token could aim for a breakout toward $3.53. However, maintaining support above $2.40 will be crucial to avoid a pullback.