Decentraland Price Prediction:

The price of the Decentraland token has been rising from the start of 2023. This rise, which is being supported by the increased activity, demonstrates that coin owners have been progressively recovering.

The MANA price was trading at $0.4458 at the time of writing, up 53.5% over the previous five days. On the daily time frame chart, this U-shaped recovery also showed the emergence of a rounding bottom pattern, offering coin holders further room for growth.

One of the bullish reversal patterns used in technical analysis at market bottoms most frequently seen is the rounded bottom pattern. The formation of the pattern denotes a trend reversal just as the preceding slump signalled the recovery rally.

During the rise, the coin price broke through several resistance levels, giving purchasers further support to continue moving upward. In addition, the improved market sentiment caused the MANA price to surge and rise 8% intraday.

With today’s bullish candle, this metacoin thus clearly overcame the $0.428 neckline barrier of the rounding bottom pattern.

In the event that the daily candle closes above the specified resistance, the underlying bullish trend will intensify.

On the other side, the bullish thesis will be disproved if the price of the currency drops below $0.428.

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