Decentraland crossed today over the 1D MA200 and if it closes the day there, it will be the first time since April 22nd 2023 to do so. It may remain inside the 10 month Channel Down but crossing over the 1D MA200 where it had the last major rejection (June 5th) is strong enough to cause a breakout. Especially since this rally originated on a 1D RSI Bullish Divergence.
The overbought 1D technical outlook (RSI = 73.919, MACD = 0.023, ADX = 49.040) may cause a minor rejection near the R1 level but we expect to hit R2 (TP = 0.53450) before the end of the year. The only condition is for the 1D MA50 to hold.
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