Decentraland/Tether Market Overview: MANAUSDT on 2025-10-03

• Price opened at $0.3214 and closed near the high at $0.3342, showing positive momentum in the 24-hour period.
• A bullish engulfing pattern formed early in the session, followed by consolidation around key resistance levels.
• RSI and MACD indicate moderate momentum with no overbought or oversold conditions observed.
• Volatility expanded through the session, with volume spiking on late-hour breakouts above $0.337.
• Turnover and price aligned well, confirming bullish follow-through in the final hours.

Market Summary

Decentraland/Tether (MANAUSDT) opened at $0.3214 on 2025-10-02 at 12:00 ET and closed at $0.3342 on 2025-10-03 at 12:00 ET. The 24-hour range was between $0.3212 and $0.3449. Total volume amounted to 28.2 million contracts, with a notional turnover of $9.4 million, indicating strong participation during key price movements.

Structure & Formations

The candlestick formation over the 24-hour window showed a strong bullish bias, especially in the latter half of the session. A notable bullish engulfing pattern formed at the start of the session, with a 15-minute candle opening at $0.3214 and closing at $0.3252. Later in the session, price consolidated between $0.3285 and $0.3320 before a breakout above $0.337 was confirmed late in the session. A bearish divergence was observed at the close of the session, with price peaking at $0.3449 followed by a slight pullback.

Key support levels to watch include $0.3280 and $0.3240, while resistance levels are forming at $0.3370 and $0.3410. A doji near the 0.3320 level indicated indecision and potential consolidation.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed positively in the late morning and remained bullish into the afternoon. The 20SMA was at approximately $0.3300, and the 50SMA sat at $0.3290, suggesting a bullish alignment. On the daily chart, the 50-period MA was around $0.3250, the 100-period at $0.3245, and the 200-period at $0.3240—showing a long-term bullish bias as price remains above all major moving averages.

MACD & RSI

The MACD histogram remained above the zero line for most of the session, with a positive divergence forming in the final 6 hours. RSI climbed steadily, reaching 55 at the session high of $0.3449 and then retreating to 50 by the close, indicating moderate momentum with no overbought condition reached. The RSI crossover of the signal line at 53 supported the bullish continuation.

Bollinger Bands

Price stayed within the upper and lower Bollinger Bands throughout the session, with a slight expansion in volatility observed around 04:00–06:00 ET. The 20-period Bollinger Bands showed a width of approximately 0.0085, with price sitting closer to the upper band at the session high. This suggests increased volatility and a potential breakout or continuation of the upward trend.

Volume & Turnover

Volume spiked late in the session, especially in the last 4 hours, with a total of 1.6 million contracts traded around the breakout above $0.337. Turnover also increased in alignment with the price action, confirming the strength of the move. No divergence was observed between volume and price, reinforcing the validity of the bullish move.

Fibonacci Retracements

Applying Fibonacci levels to the 24-hour swing from $0.3212 to $0.3449, the key retracement levels are as follows: 38.2% at $0.3335 and 61.8% at $0.3295. Price found temporary support at the 38.2% level, indicating potential for further consolidation or a reversal if the trend loses steam.

On the daily chart, retracement levels from previous bearish swings suggest that $0.3370 is a critical level to watch for continuation or reversal signals.

Backtest Hypothesis

A backtesting strategy based on 15-minute bullish engulfing patterns, confirmed by a close above the 50-period MA and increasing volume, could be validated using this session’s data. The bullish engulfing pattern at the session’s open was followed by a price move above both the 20- and 50-period MAs, confirming the pattern’s strength. Additionally, volume surged in the final hours, supporting the continuation of the bullish move. A trailing stop-loss at $0.3320 could have captured the full move to $0.3449, offering a risk-reward ratio of approximately 1.3:1. This pattern may serve as a high-probability entry trigger in future similar setups.