Decentraland [MANA] falls to half-dollar value- Can bulls prevail?

ambcrypto.com:

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Decentraland [MANA] broke below its consolidation range of $0.8254 – $0.6314 in early March, attracting aggressive selling afterward. At press time, the virtual reality blockchain platform’s token struggled to maintain its half-dollar value. 

Read Decentraland [MANA] Price Prediction 2023-24

Similarly, Bitcoin [BTC] struggled to maintain the $20K value as overall market uncertainty persisted and could expose MANA to price fluctuations too. 

Source: MANA/USDT on TradingView

MANA curved a bullish flag pattern, but a potential bullish rally was undermined by increasing market uncertainty. Bulls lost crucial leverage after bears breached the $0.6314 support on March 3.

The aggressive selling afterward has further sunk MANA below another key support at $0.5326. At the time of writing, MANA oscillated between the 100-day MA (Moving Average) of $0.5422 and $0.4986. 

  If BTC fluctuations persist, MANA could enter a sideways market structure. As such, investors could target the upper and lower boundaries of the $0.5422 – $0.4986 range for gains.

However, a breach of the range will invalidate the above sideway structure. Notably, a bearish breakout could settle at $0.4600 or $0.4200.

On the other hand, a bullish breakout and a daily candlestick close above $0.5326 could inflict recovery with an immediate target at $0.6314.

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The RSI has declined significantly, while the OBV (On Balance Volume) also dipped, showing limited buying pressure and trading volumes. 

Source: Santiment

According to Santiment, the 90-day Mean