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Can mana reverse from the crucial $ 3.1 zone?



Decentraland Mana (MANA / USD) fell over 20% on Saturday after seeing a huge sell-off. Mana had attracted the attention of many investors due to its recent rally. Investors who missed the rally were looking for opportunities to get into mana. After a piece of land on Mana was sold for nearly $ 1 million, many people began to see the potential of the Metaverse coin. Mana has seen tremendous demand lately with over $ 100 million sold to Metaverse land last week.

Mana is down over 40% from its highs last month. Investors are now trying to buy mana in the hope of another rally soon. Mana is now traded in a critical zone that could be a make or break zone. Now the question arises: should you buy Mana's dip?

  • Mana has fallen sharply in the past few days and is now over 40% below its all-time high.

  • The drop could be a trail back in price after the recent spike in mana price. Therefore, it might be a good time for investors to buy mana.

  • Mana has strong support at $ 3.09, which has collapsed as of today. However, buyers took the opportunity to buy mana at the reduced price and pushed the price back onto the support.

  • Mana also appears to be receiving support from the 50-day moving average, which could be a bullish indicator.

  • Investors need to be careful and should only get in if there is a clear reversal as mana could still fall below the support level.

  • If a reversal is seen, mana could hit some big targets like $ 4.3, $ 5.3, and even a new all-time high in the coming months. Nevertheless, investors should set a stop loss below the zone.

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