Market Overview for Decentraland/Tether (MANAUSDT) – October 9, 2025

• Decentraland/Tether (MANAUSDT) traded in a bearish range during the 24-hour period, closing below the opening price with moderate volatility.
• The RSI and MACD suggested weakening momentum, while volume surged during the early hours of the session.
• Price failed to hold above the 0.3250 level, with multiple failed attempts to retest the 0.3300 resistance zone.
• Bollinger Bands showed a recent contraction in the mid-session, followed by a mild expansion as bearish pressure returned.
• Fibonacci levels highlighted potential support around 0.3100–0.3120, with the 61.8% retracement from the prior high in focus.

At 12:00 ET–1 on October 8, MANAUSDT opened at 0.3221 and traded between 0.3215 and 0.3329 before closing at 0.3127 at 12:00 ET on October 9. The 24-hour volume reached 3,777,233.0 and turnover amounted to 1,208.4 USDT. Price action showed a clear bearish bias with multiple failed bullish attempts.

Structure & Formations

The chart structure indicated key support levels at 0.3100–0.3120 and 0.3250–0.3270, with the 0.3300–0.3320 zone acting as a strong resistance cluster. A bearish engulfing pattern emerged around 0.3305–0.3288 and was followed by a sequence of lower highs and lower closes, suggesting a continuation of the downward trend. A doji formed at 0.3299–0.3299 at 20:30 ET, hinting at indecision and potential reversal, but bearish pressure quickly resumed.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs both trended lower, confirming the bearish bias. Prices remained below both indicators throughout the session, with no signs of retesting from below. Daily moving averages (50/100/200) would likely show a similar bearish configuration, reinforcing the downward trend and the need for a break above the 0.3280–0.3300 zone for a potential reversal.

MACD & RSI

The MACD line stayed below the signal line, with a bearish crossover confirming the ongoing downtrend. RSI hovered between 30 and 50 for most of the session, with a brief dip to 28–30 during the morning hours, signaling oversold conditions. However, prices failed to bounce off this level, suggesting bearish exhaustion may still be in place. Both indicators pointed to a continuation of the downward trajectory unless a reversal candle confirms bullish momentum at the lower end of the range.

Bollinger Bands

Bollinger Bands contracted around 0.3290–0.3310 during the mid-session hours, indicating a period of consolidation. Price then moved below the lower band, confirming a breakout to the downside and a return to bearish volatility. The recent movement suggests the lower band of the Bollinger channel is now a key support to monitor.

Volume & Turnover

Volume spiked early in the session, particularly around 17:30–19:00 ET, confirming the bearish breakdown. The highest volume candle was at 17:30 ET with 343,124.0 units traded, corresponding to a price drop from 0.3274 to 0.3305. Turnover increased in tandem, aligning with the volume spikes. A divergence appeared in the evening hours, where volume declined while price continued to fall, indicating potential exhaustion or reduced conviction in the bearish move.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing high (0.3329) and swing low (0.3127) revealed key levels at 0.3250 (38.2%) and 0.3170 (61.8%). The 61.8% level is currently in focus as a potential support area. A break below 0.3127 could bring the 100% Fibonacci extension at 0.3045 into play as a deeper target.

Backtest Hypothesis

Given the bearish structure and key Fibonacci levels, a backtest strategy could involve a short entry at the 61.8% Fibonacci level (0.3170) with a stop-loss above the 0.3250 support and a target near the 0.3045 level. A trailing stop could be used as the price moves in favor of the trade to capture additional downside. This setup aligns with the observed bearish momentum, volume confirmation during key breakdowns, and RSI divergence, making it a viable hypothesis for further testing over multiple timeframes.