Decentraland Defies Gravity: Mid-Range Support Holds as Bulls Target New Highs

Decentraland's MANA token isn't blinking—despite market tremors, it's clinging to critical mid-range support like a metaverse landlord holding prime virtual real estate.

Bulls load their cannons

With the 50-day MA acting as a springboard, traders are eyeing a retest of last month's highs. Volume's ticking up, shorts are sweating, and that 'metaverse winter' narrative? Looking frostbitten.

Meanwhile in TradFi land...

Wall Street's still trying to NFT their way out of a liquidity crisis—but in Decentraland's corner of cyberspace, the only 'rug pull' happening is virtual drapes in digital mansions. The game's changing. Are they watching?

Key technical points

• Support Confluence: Value area low, 0.618 Fibonacci, and range midpoint support.
• Current Structure: Consolidation on the daily timeframe, hinting at accumulation.
• Breakout Trigger: Close above the point of control with bullish volume influx.

MANA’s recent corrective MOVE brought price action into a significant support zone — the range midpoint of the current high time frame structure. This region is technically supported by the value area low, the 0.618 Fibonacci retracement, and a higher low in market structure, all reinforcing the potential for bullish continuation.

Following the test of this support zone, candles on the daily chart have begun to show signs of strength and demand, with several holding firm above this key region. Volume profile analysis shows initial bullish influxes, indicating that buyers are actively defending this price level.

This phase of daily consolidation suggests accumulation is occurring at the range midpoint, which is typically a bullish precursor to a breakout. The presence of strong support confluence and the absence of significant breakdowns imply that bulls remain in control, provided the structure holds.

To validate the next leg higher, MANA must break out of this daily accumulation zone. The key confirmation trigger will be a daily close above the point of control, which has now flipped to resistance. A break and hold above this level, especially with above-average bullish volume, WOULD provide the momentum needed to target the high time frame resistance zone near the top of the range.

If this occurs, it would also confirm the legitimacy of the bottoming structure and likely kickstart a new rally cycle. Failure to break out, however, would extend the accumulation phase, though the bullish structure would remain intact unless support is lost.

What to expect in the coming price action

MANA’s current position in the range, paired with structural and volume-based confluence, offers a high-probability setup for a bullish continuation, contingent on near-term confirmation signals. Daily consolidation suggests bullish accumulation, but confirmation is still needed.