Market Overview for Decentraland/Tether (MANAUSDT) on 2025-10-09

• MANA/USDT traded lower over 24 hours, ending near support after a bullish breakout attempt
• Volatility expanded midday before consolidating into a bearish wedge pattern
• Volume spiked during the rally to 0.3314 but failed to confirm higher lows
• RSI and MACD showed bearish divergence as price retreated from 0.3314
• Bollinger Bands widened midday, indicating increased uncertainty in short-term direction

Decentraland/Tether (MANAUSDT) opened at 0.3221 on 2025-10-08 12:00 ET, reached a high of 0.3317, and closed at 0.3152 at 12:00 ET on 2025-10-09. The 24-hour period saw a total volume of 5,406,188.0 and a notional turnover of $1,745,350. Price formed a bearish wedge after a failed breakout attempt, with a key support level forming near 0.3152.

Structure & Formations

Price formed a bearish wedge between 0.3317 and 0.3152 on the 15-minute chart, with the wedge line sloping downward after a brief rally. A doji formed at 0.3251 during the early hours, indicating indecision. A key support level appeared to form near 0.3152–0.3132, with a potential rejection of lower levels becoming apparent in the last candle.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed bearishly as the price declined toward 0.3152. On the daily chart, the 50-period MA is above the 200-period MA, suggesting a broader bearish bias. However, the 50-period MA has started to turn lower, indicating a shift in momentum.

MACD & RSI

The MACD line turned bearish during the afternoon, crossing below the signal line near 0.3274 before accelerating lower. RSI confirmed the bearish momentum, dipping below 30 after 20:30 ET. This suggests oversold conditions, but the divergence in MACD and RSI relative to price action may indicate further weakness before a potential rebound.

Bollinger Bands

Bollinger Bands expanded significantly during the midday rally to 0.3314, indicating increased volatility. Price closed near the lower band at 0.3152, suggesting a bearish bias in the near term. The contraction of the bands in the last 4 hours implies a potential for a breakout or continuation of the current downward trend.

Volume & Turnover

Volume spiked during the midday rally, with a massive 456,539.0 traded at 0.3314, followed by a sharp decline in activity. Turnover diverged from price, with volume falling as price continued lower. This volume divergence reinforces the bearish bias and suggests a lack of buyer interest to defend key levels.

Fibonacci Retracements

Fibonacci retracements applied to the 0.3215–0.3314 move indicate that price has found support at the 61.8% level near 0.3176. However, it has now closed below that level at 0.3152, suggesting further downside could be expected if it breaks 0.3132.

Backtest Hypothesis

The observed bearish wedge and volume divergence present a high-probability setup for a continuation of the downtrend. A potential long entry could be placed if price rebounds above the 0.3152–0.3176 support zone, with a stop below 0.3132. Alternatively, a short setup could be considered after a break below 0.3132, with a target at 0.3100. The MACD and RSI divergence adds technical confirmation for bearish continuation. This strategy aligns with the pattern and volume signals observed in the 15-minute timeframe.