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Decentraland (MANA) saw its price climb by about 1.41% over the past day of trading. This left the crypto trading hands at around $0.4198 at press time, according to CoinMarketCap. Consequently, MANA was trading right between its daily low of $0.4149 and its 24-hour high of $0.4261.
Furthermore, MANA’s 24-hour trading volume dropped by more than 47% throughout the past day, which left it standing at $41,103,914. Its market cap of $795,571,554 meant that MANA was ranked as the 53rd largest crypto in terms of market capitalization as well. This placed it right behind Theta Network (THETA) in the 52nd spot.
MANA’s price boost over the past 24 hours succeeded in pushing its weekly performance even further into the green to +9.54%. In comparison to the 2 market leaders Bitcoin (BTC) and Ethereum (ETH), the crypto outperformed both and was up 0.28% against BTC and 0.84% against ETH at press time.
From a technical perspective, the price of MANA was in a bullish move over the past 6 hours. Furthermore, a bullish shooting star candlestick had formed on the altcoin’s 2-hour chart in the previous couple of hours. Should this candlestick pattern be validated, then MANA’s price may continue to climb for the rest of today.
During this potential increase in MANA’s price, the altcoin may attempt to flip the resistance at $0.4266 into support. If it succeeds in overcoming this major price point, then it may have a clear path to continue climbing to $0.4468 in the following 24-48 hours.
On the other hand, if MANA’s price drops below the minor support level at $0.4188 within the next 8 hours, then the bullish thesis will be invalidated. In the event that the crypto breaks below this minor support level, it may be at risk of losing the support of the $0.4141 level in the coming 24 hours.
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