Decentraland (MANA) price continued its upward momentum, adding around 40% since its renewed rise on Thursday. After a brief period of consolidation seen in the first week of November, Facebook’s rebranding as Meta had begun a resurgence in its trend. According to analyst Dhwani Mehta, MANA price can now start its ATH journey. Here are the technical levels…
MANA price heading towards all-time highs
The relentless rise in MANA price is unstoppable as Decentraland bulls extend the three-day bullish momentum on Saturday. The price is consolidating near two-week highs and is gaining momentum for the next rise as the technical setup on the 12-hour chart remains in favor of the bulls. Further upside moves remained intact, especially in light of a falling wedge break confirmed in the stated timeframe on Friday. MANA price closed the 12-hour candlestick above the falling trendline resistance and then closed at $2.60. This provided a major technical break.
The RSI is holding tighter above 70.00 but is not yet in the overbought territory, leaving additional room to the upside. Therefore, buyers can resume their $4 journey if the intraday highs clear. The analyst thinks that the next upward target may result in record levels.
According to Dhwani Mehta, whose analysis we shared as , any pullback from higher levels in MANA price will bring back $3.04, Friday’s low. Its sellers may then turn to the slightly bullish 21-day SMA on additional weakness.
MANA bears will then target the slightly bullish 21-day SMA at $2.78 on additional weakness. If the corrective pressure continues, the MANA bears may have to challenge the wedge resistance currently at $2.47.