Market Overview for Decentraland/Tether (MANAUSDT) on 2025-11-03

• MANA/USDT traded in a 0.2062–0.2337 range over 24 hours, closing near 0.2063 with bearish momentum.
• Volume spiked during the 15:30–15:45 ET selloff, confirming a sharp 9.3% price decline in two candles.
• RSI signaled overbought levels in early hours, followed by overbought-oversold divergence by 10:00 ET.
• Bollinger Bands showed moderate volatility contraction mid-day before a sharp expansion post-15:30 ET.
• The Bearish Engulfing pattern at 0.2274–0.2284 preceded a sustained decline, suggesting short-term bearish bias.

Opening and 24-Hour Summary

Decentraland/Tether (MANAUSDT) opened at 0.2277 on 2025-11-03 and traded in a 0.2062–0.2337 range, closing at 0.2063 by 12:00 ET. The 24-hour volume totaled approximately 15.9 million units, with a notional turnover of $3.58 million. Price action indicated a bearish reversal from early morning highs, with volatility spiking during the final hours of the day.

Structure and Candlestick Patterns

The 15-minute chart displayed a strong bearish bias after a 13-hour consolidation between 0.2212 and 0.2284. A key Bearish Engulfing pattern formed at 0.2274–0.2284 during the early ET hours, signaling a potential reversal. This was followed by a series of lower highs and lower closes, with price failing to reclaim above 0.2282. A long bearish shadow formed after 15:30 ET as price plummeted to 0.2062, confirming a breakdown below key support.

Moving Averages and Momentum

The 15-minute 20-EMA and 50-EMA crossed into bearish territory by 14:00 ET, with the 20-EMA dipping below 0.2200. The 50-EMA remained as a key resistance during the consolidation phase. The daily chart showed the 50/100/200 EMA lines forming a descending alignment, reinforcing the bearish trend. The MACD histogram expanded negatively in the final 4 hours, while RSI crossed below 30, indicating oversold conditions. This suggests potential for a bounce but remains within a larger bearish context.

Bollinger Bands and Volatility

Bollinger Bands showed a moderate contraction during the 10:00–15:00 ET window, as price traded between the mid- and upper bands. The bands then expanded sharply after 15:30 ET, confirming the breakdown to 0.2062. Price closed at the lower band for the final candle, suggesting potential for a short-term bounce. However, the expansion of the bands indicates heightened volatility and a higher likelihood of continued downward movement in the near term.

Volume and Turnover Analysis

Trading volume increased sharply during the 15:30–15:45 ET session, with a single candle registering over 3 million units of volume and $620k in turnover. This coincided with the breakdown to 0.2062, confirming strong bearish conviction. Turnover also spiked in the early morning hours during the consolidation phase, indicating accumulation. The volume/price divergence during the 10:00–12:00 ET period suggests potential for a retest of key resistance levels before a deeper decline.

Fibonacci Retracements

Fibonacci levels drawn from the 0.2062–0.2337 swing identified 0.2174 (38.2%) and 0.2236 (50%) as potential support levels. Price briefly retested the 0.2174 level during the 08:00–09:00 ET window, confirming a temporary bounce but failing to close above 0.2190. The 61.8% retracement at 0.2275 acted as resistance during the early ET hours before the breakdown. A retest of 0.2236–0.2275 may occur in the next 24 hours, offering a short-term opportunity for a countertrend trade.

Backtest Hypothesis

The observed Bearish Engulfing pattern at 0.2274–0.2284 aligns with the “Bearish Engulfing, sell at close” intraday trading logic. A precise back-test would apply the following rule: On the 15-minute chart, when a Bearish Engulfing candle is confirmed (closed below open with higher open and lower close than the previous candle), exit the previous position at the next candle’s close. This strategy could be tested on MANAUSDT from 2022-01-01 to 2025-11-03. Given the high-volume confirmation of the breakdown after the signal, this pattern may offer a robust short-term sell signal. Risk controls such as a stop-loss at 0.2282 or a 1% trailing stop may enhance risk-adjusted returns.