Market Overview: Decentraland/Tether (MANAUSDT) - 24-Hour Action

• Price surged to 0.391 before consolidating into a 0.3518 close, showing strong intraday volatility.
• Volume spiked during the 18:15 ET candle with 6.1 million notional turnover, indicating high participation.
• RSI hit overbought levels mid-day before falling back into neutral territory, suggesting temporary exhaustion.
• A bearish engulfing pattern emerged near the daily high, hinting at short-term resistance.
• Bollinger Bands tightened in the final hours, signaling potential for a breakout or reversal.

Decentraland/Tether (MANAUSDT) opened at 0.3579 on September 13, 2025 at 12:00 ET, surged to a high of 0.391, and closed at 0.3518 by 12:00 ET the next day. Total volume reached 43,342,615 and notional turnover hit approximately $15,708,993 over 24 hours.

Structure & Formations

Price formed a bearish engulfing pattern at 0.391 during the 18:15 ET candle, suggesting exhaustion at the high. A long-legged doji emerged near 0.3705 late in the session, hinting at indecision. Key support levels are forming around 0.3518–0.3534, while resistance is likely to be retested around 0.365–0.370.

Moving Averages

The 15-minute chart shows price dipping below the 20- and 50-period moving averages, indicating bearish bias in the short term. The daily chart sees MANAUSDT hovering around the 200-day MA, with the 50-day MA acting as a potential pivot point.

MACD & RSI

The RSI hit 68–70 mid-day before retreating to 49–51, suggesting overbought correction. The MACD line remained above zero during the morning surge but crossed below the signal line by mid-session, signaling a bearish crossover and potential for further pullback.

Bollinger Bands

Bollinger Bands contracted in the final hours of the session, with price settling near the lower band at 0.3518. This tightening suggests a potential breakout or reversal could be in play, but direction remains uncertain.

Volume & Turnover

Volume surged during the 18:15–18:30 ET window, coinciding with the high of 0.391, and dropped off after 0.3705. Notional turnover aligned with these spikes, with a clear divergence between price and volume as the market pulled back. This suggests reduced conviction in the upside move.

Fibonacci Retracements

On the 15-minute chart, the 0.391 high and 0.3518 low formed a 38.2% retracement at 0.3697 and a 61.8% level at 0.3596—both of which acted as temporary pivots. The 0.3518 close suggests further support may be found near the 0.3534–0.3562 range.

Backtest Hypothesis

A potential backtest strategy could involve entering short positions on a bearish engulfing pattern at the session high, with a stop loss above the 0.370–0.375 range and a target aligned with the 0.3518–0.3534 support. The RSI overbought signal and MACD crossover add confirmation to this setup. Testing this strategy over multiple cycles could validate its efficacy in volatile, range-bound environments like MANAUSDT’s recent price action.