Crypto enthusiasts are likely to purchase due to the gains made by Decentraland (MANA) in recent trading sessions. MANA is still a bullish coin despite the slight decrease in price during the last trading session. Although the coin was opened at a lower cost, it quickly recovered and traded back to $1.02.
This means that a break above $1.0 could lead to huge gains. MANA’s price has shot up with a 2.20% increase in 24 hours. It has also risen 15% in three days. MANA’s price action shows that it is still holding strong at $0.99.
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The Consistent Bullishness of Decentraland (MANA).
The Inverted Head-and Shoulder formation is a sign of a bullish trend that predicts a break on the higher area. Further, MANA’s price is consistently trading above the 50-day EMA as seen in the past few days which confirms a potential breakout. MANA buyers may look at $1.12, which could be followed by $1.30.
While MANA moves into an asymmetrical triangle pattern, it’s shaping up to form a double top. The price has retraced since that point, and is now at $0.92. A bearish Bat pattern was also observed, something that rarely occurs.
MANA will likely see an uptrend in the longer-term, however, a correction near $0.90 can be achieved with a shorter period. So, once the price breaches $1.0, it signals a great buying opportunity.
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Although Decentraland’s rapid price fluctuation (MANA) has been a problem, analysts remain bullish about the token. MANA is a metaverse token and has seen a rise in its price with the introduction of Meta (formerly Facebook).
MANA, a pioneer in crypto gaming has shown time and again its ability to rule the metaverse.
MANA market capital at $1.84 Billion according to the Weekend Chart | Source: TradingView.com
Decentraland’s Strong Metaverse Presence
Decentraland, a virtual world created and owned by its users for the first time, is renowned as the best. Decentraland has its own NFT market. It is possible to freely trade and explore the metaverse, which is constantly changing. The MANA allows users to trade in land parcels and pets, such as cats and dogs.
Decentraland even has a DOA that is very similar to RoboApe. MANA hodlers can have their say on the Decentraland and vote for the changes they desire. It is possible to modify and shape the meme token culture in a safe, secure metaverse.
The Decentraland market has 160,000 total sales and a peak trading volume of $348.84million.
Featured Image from TradingView.com. Chart from TradingView.com.