Decentraland Price Prediction: Today’s Decentraland (Mana) Price, 23rd Feb 2023

Decentraland Price Prediction:

The price of the Ethereum-based virtual reality token Decentraland is currently falling after a 200% rally since January.

On February 13, the token is down 5%, resulting in a 15% decline in value overall over the previous two weeks.

The technical indicators indicate that as the token falls, there is still room for a short-term drop of up to 30% more.

The price of Decentraland is currently trading at 0.62. On February 9th, with prices suppressed below the indicators, the 8-day exponential moving average crossed over the 21-day simple moving average.

This is a crucial indicator that suggests a shift in market behaviour, in this case, the conclusion of the winter rally.

A high-affinity landing zone between the $0.55 and $0.40 region is visible using a Fibonacci retracement tool surrounding the winter rally from January 1st at 0.28 to the winter high at $0.084.

A fall into the 0.43 61.8% FIB level would result in a 30% reduction in the market value of MANA.

Invalidation of the bearish thesis could be placed above the recently crossed moving averages at $0.72 for traders looking to join the choppy swing to the downside.

Decentraland price would likely be back on track to rally towards the $1 liquidity zone if the bulls can retake the moving averages. According to the bullish scenario, the market value of MANA would rise by 55%.

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