Decentraland is up for the fourth consecutive session and saw a nearly 2% increase in trading volume. More so, MANA’s fourth day exhibited a price spike trading above $1.
Since Facebook’s redesign to Meta, Metaverse is gaining popularity. Decentraland, a virtual playground, has long been popular.
Popularity of Decentraland MANA
Decentraland was designed for adults and teens who want to create, socialize and make money with virtual land. You can buy all the assets and virtual lands in Decentraland with the MANA token.
MANA continues to shape its virtual environments in order to offer users sophisticated and stunning experiences.
Decentraland has grown to be so powerful and popular, that large companies such as Adidas, Samsung and Atari also purchased virtual real estate properties through Decentraland.
Decentraland also has partnerships with companies such as Genesis One Capital and George Burke. Boost VC and Animoca Brand have provided funding.
MANA suffered some setbacks over the past months, with its share dropping by up to 70%. However, it was supported by many well-known brands and managed to recover by 12% in July.
Bullish on Decentraland; Goals $1.5
The daily chart shows that there’s a high chance that MANA will continue to experience a price increase for its next trading session. It also shows an upward trend over the long term. Decentraland has a price target of $1.5 in the future.
The Williams Alligator trend shows that there is a retrace to the upside, which suggests that MANA will be moving towards August in a bullish direction. If the price drops below $0.84, this could signal a bearish viewpoint.
Since Friday, Decentraland has been bullish. The token is now down by 6.31% compared to its previous five-day peak and 13.87% higher than its last five-day low of $0.8460.
MANA is currently sliced at the center of the support/resistance zone with resistance at $0.9997 while support lies at $0.9359.
Moreover, Decentraland has been trading on low volumes quite recently which signals that today’s trading volume is much lower than the coin’s average volume seen in the past week.
MANA Total Market Cap at $1.91B on Weekend Chart | Source: TradingView.com Featured Image from TradingView.com. Chart from TradingView.com.