Due to strong mood in the crypto market, the MANA price has been in an uptrend since mid-July 2023, producing higher lows and higher highs.

The cryptocurrency price found support at $0.33 and gained bullish momentum as the entire crypto market surged as a result of BlackRock, an American international financial firm, registering for a Bitcoin Spot ETF.

As soon as the price approached $0.445, it was met with significant rejection, putting an end to the upward trend.

Following the rejection, the price gained bullish momentum and broke through the upper channel. The price has recently entered a downtrend, forming lower lows.

As the previous candle closed positive, Decentraland price has created support at $0.3850.

The current candle has broken the previous candle’s high and is now heading towards a resistance level of $0.4070.

If the price can increase above $0.42, there is a chance of a retest of the $0.4450 level, but the current price action suggests that a positive surge is unlikely.

If the price falls below $0.37, it is possible that it will melt down towards $0.33, resulting in a 10.75% drop.

The daily active address count peaked on June 23, 2023, at 33,614, and has since dropped precipitously to 430, which is the current count.

The number of daily active addresses has decreased by 67.74% in the last 7 days.

The 24-hour trading volume has risen by 6.74%, and the market capitalization has risen by 2.41% to $740,585,508. The price has fallen 93.37% since its all-time high of $5.90.

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