Market Overview for Decentraland/Tether (MANAUSDT) as of 2025-11-06

Summary
• MANAUSDT opened at $0.21 and closed at $0.2096, with a 24-hour high of $0.2149 and low of $0.2061.
• Price action shows a bearish consolidation after a brief bullish breakout earlier in the day.
• Volume increased notably during the late session dip, signaling potential bearish momentum.

Market Overview

On November 6, 2025, Decentraland/Tether (MANAUSDT) opened at $0.21 and closed at $0.2096, reaching a high of $0.2149 and a low of $0.2061 over the 24-hour period. Total trading volume amounted to 6.45 million MANA, with a notional turnover of approximately $1.36 million. The asset appears to be consolidating within a key price range after a short-lived bullish breakout.

Structure & Formations

Price action shows a bearish consolidation after a brief bullish breakout earlier in the day, with a key support forming around $0.2095–$0.2100. A bearish engulfing pattern formed around 17:00 ET as the price dropped from $0.2121 to $0.2109, suggesting a potential short-term reversal. A doji appeared near $0.2120, indicating indecision at the 20 EMA.

Moving Averages

On the 15-minute chart, the 20-period and 50-period EMAs both sit slightly above the current price (~$0.2105 and $0.2110, respectively), indicating bearish pressure. On the daily chart, the 50-period and 200-period EMAs are aligned near $0.2130–$0.2140, suggesting a bearish bias from a longer-term perspective.

MACD & RSI

The MACD line crossed below the signal line around 16:00 ET, confirming a bearish turn in momentum. RSI has dropped into oversold territory, currently reading ~33, which suggests a potential bounce or retest of key support is possible.

Bollinger Bands

Volatility expanded during the late session dip, with the lower band reaching as low as $0.2075–$0.2085. Price closed just above the lower Bollinger band, which could indicate either a bounce or a continuation of the bearish trend if support breaks.

Volume & Turnover

Volume increased notably during the late session dip, especially between 16:00–17:00 ET, where over 200k MANA traded at prices below $0.2100. Notional turnover also rose sharply during that period, confirming bearish sentiment.

Fibonacci Retracements

On the 15-minute chart, a key 61.8% retracement level sits at $0.2113, which has acted as resistance earlier in the day. On the daily chart, a 38.2% retracement of the recent $0.2061–$0.2149 swing is at $0.2096, where price has found recent support.

Backtest Hypothesis

To test the robustness of the observed bearish momentum, we propose a backtest using the hammer candlestick pattern as a sell signal. Given the recent bearish bias and key support levels identified, a sell signal would be triggered when a hammer pattern forms near resistance. A typical exit rule could be to sell after 5 trading days or upon a 8% stop-loss and 10% take-profit. The correct ticker for this instrument is confirmed as MANAUSDT, and since the data is available, the backtest can proceed with standard parameters.