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Decentraland: An extended decline for MANA depends on these conditions

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.After Decentraland [MANA] lost its previous baseline at the $2-mark, sellers led the trend on their end by keeping the price below the basis line (green) of the Bollinger Bands (BB) for the most part.The consistent lower peaks alongside the declining troughs materialized in a down-channel (yellow) was witnessed in the daily timeframe.

Bears would now aim to retest the upper trendline of the channel.Any bounce-back from the $0.7-zone would position MANA for a short-term upside.

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