Market Overview for Decentraland/Tether (MANAUSDT) – 24-Hour Analysis

• MANA/USDT traded in a tight range before breaking lower on increased volume.
• Momentum shifted from bullish to bearish in the last 8 hours, with RSI entering oversold territory.
• Volatility spiked overnight, with a sharp drop below key support levels.
• Bollinger Bands show a reversion to the mean, with price testing the lower band.
• Fibonacci 61.8% level at $0.3348 appears to be a short-term floor to watch.

The Decentraland/Tether (MANAUSDT) pair opened at $0.3462 at 12:00 ET − 1 and reached a high of $0.35 before closing at $0.3272 as of 12:00 ET on 2025-09-19. The price action was bearish overall, with a 7.3% drop over 24 hours. Total volume for the period stood at 6,836,050, while notional turnover reached approximately $2,296,639. The move down accelerated overnight, with a sharp decline below the 0.344 level.

Structure & Formations

The price action over the past 24 hours showed a bearish breakdown, particularly from 04:00 ET onward, as sellers pushed the price through key psychological support levels. A long-tailed bearish candle formed at 03:45 ET, followed by a breakdown to 0.3356. The 0.3448 level acted as a key pivot and now serves as a potential short-term floor. A bearish engulfing pattern was observed around 03:45 ET, signaling a shift in momentum. The price has been hovering near the lower Bollinger Band, suggesting a reversion to the mean.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have crossed below, confirming the bearish trend. On the daily chart, the 50-period MA has crossed below the 100-period and 200-period MAs, reinforcing a bearish crossover. The price is well below all major moving averages, indicating a strong trend in favor of the bears.

MACD & RSI

The MACD line turned negative in the early hours of the morning, confirming a bearish reversal. The histogram has been diverging from the price action, suggesting that the bearish move could continue. RSI has fallen below 30 into oversold territory, but divergence between price and momentum suggests a deeper correction may occur before a reversal.

Bollinger Bands

Volatility increased significantly as the price moved lower, stretching the Bollinger Bands. The price has tested and bounced off the lower band on multiple occasions, with the 2σ band reaching as low as $0.3295. A continued drop below this level could indicate a continuation of the bearish trend. The width of the bands also reflects a period of contraction earlier in the day, suggesting potential for a breakout in either direction.

Volume & Turnover

Volume spiked during the sharp breakdown between 03:45 and 05:00 ET, confirming the bearish momentum. The notional turnover increased in sync with the volume, reinforcing the strength of the move lower. A divergence between volume and price action was observed in the early morning, with volume failing to increase during a brief rebound attempt, suggesting the bears are in control.

Fibonacci Retracements

Applying Fibonacci retracements to the last major bearish swing (0.35 to 0.3254), the 61.8% level is at $0.3348. Price appears to have bounced slightly off this level in the morning before resuming the decline. The 50% level is at $0.3377, which now serves as a key resistance level to watch if a rebound occurs.

Backtest Hypothesis

A potential backtesting strategy for this pair could focus on identifying bearish engulfing patterns and overbought RSI levels as early signals of a trend reversal. Given the current conditions, a short entry on the break of the 0.3448 level, with a stop above the 0.3478 level and a target at the 0.3234 swing low, could be a viable short-term strategy. This approach leverages the identified structure, Fibonacci levels, and confirmed bearish momentum, while managing risk with a defined stop and target.