Decentraland/Tether (MANAUSDT) Market Overview

• Price declined from 0.2345 to 0.2269 amid uneven volume distribution
• Key resistance at 0.2345–0.235, support at 0.2261–0.2267
• RSI in oversold territory, but price remains within lower Bollinger Band
• Volume surged during sharp drop in the latter half of the session
• MACD remains bearish, suggesting potential for further downside in short term

The 24-hour session for Decentraland/Tether (MANAUSDT) opened at 0.2313 on 2025-11-01 at 12:00 ET, reached a high of 0.2345, a low of 0.2245, and closed at 0.2267 on 2025-11-02 at 12:00 ET. The total 24-hour volume amounted to 8,398,110 MANA, with a notional turnover of approximately $1,947,522. The session was characterized by a strong bearish bias, with a pronounced decline in the final hours.

Structure & Formations

Price action displayed multiple bearish formations, including a shooting star at the 0.2345 level and a bearish engulfing pattern forming from 0.2326 to 0.2267. Key support levels can be observed at 0.2261–0.2267 and 0.2245–0.225, while resistance is forming at 0.2315 and 0.2331–0.2345. A 61.8% Fibonacci retracement from the 0.2345 high to the 0.2245 low aligns closely with the 0.2269–0.2272 level, suggesting a potential short-term reversal point.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages (SMA) are in a steep bearish crossover, reinforcing the downtrend. On the daily chart, the 50-period and 100-period SMAs have also crossed bearishly, while the 200-period SMA remains a critical long-term support at around 0.228–0.229. The short-term momentum continues to favor sellers, with price well below all key moving averages.

MACD & RSI

The 12,26 MACD line has crossed below the signal line, reinforcing bearish momentum. The RSI stands at 26 (as of 12:00 ET), indicating oversold conditions, but the slow RSI remains below 30. This suggests that while momentum may be exhausted, a reversal could be imminent if support levels hold.

Bollinger Bands

Bollinger Bands have widened significantly during the late hours of the session, indicating increased volatility. Price has moved well below the lower band, particularly in the 15-minute chart, which is a sign of a strong bearish bias. The contraction seen earlier in the session did not lead to a breakout, further confirming the strength of the recent downtrend.

Volume & Turnover

Volume surged during the sharp decline in the latter half of the session, with the most significant volume spike occurring at 14:30–15:45 ET, where price dropped from 0.2288 to 0.2259. Notional turnover increased in tandem, confirming the bearish move. However, volume has since softened, suggesting the sell-off may be running out of steam.

Fibonacci Retracements

On the 15-minute chart, the most recent swing low at 0.2245 aligns with a 61.8% retracement of the previous upward leg, which could serve as a key level for near-term support. On the daily chart, the 0.2345 high to 0.2245 low retracement shows the 0.2261–0.2267 level as a critical psychological support. A break below 0.2245 would bring the next key level at 0.2192 into focus.

Backtest Hypothesis

Given the bearish momentum and confirmation by volume and key technical levels, an event-driven backtest strategy based on MACD Golden Cross events could be valuable for historical performance evaluation. The challenge, however, is the unavailability of continuous MACD data for MANAUSDT since 2022-01-01. To proceed accurately, the correct ticker symbol must be confirmed. Common variants include MANAUSDT, MANA/USDT, or exchange-specific formats like BINANCE:MANAUSDT. Once the correct ticker is identified, a backtest can be run to evaluate how Golden Cross signals would have performed in combination with risk controls such as stop-loss and take-profit levels. If you trade on a specific exchange, please provide its name to help identify the exact ticker used by the data vendor.