Since May 2021, when MANA’s price rose to an all-time high of $5.91, it has been falling within a downward parallel channel.

In May 2022, the MANA price fell to $0.62 before bouncing and creating a very long lower wick (green icon). These wicks are said to represent buying pressure. At the time, this was seen as a highly positive development because it averted a potential breach and validated the channel’s support line as well as the $).75 support area.

As a result, it is expected that the price of Decentraland will decrease toward the next close long-term support level of $0.49.