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MANA Price Gets 2.5% Weekly Boost As Bulls Charge For Reversal

This week, MANA showcased a slew of 2.5% gains. EMAs are also moving above Decentraland’s token’s price.

  • MANA price tallies 2.5% gains
  • MACD looks flat and not showing any bullish sign
  • Decentraland market cap at $1.29 billion

At this point, MANA’s price is close to its lowest for 2022. The bears are eyeing a new low for the year while also trying to get on top of the costs below the range of $1.0.

Sometime in August, MANA’s price plunged which negatively impacted buyer expectations especially as the coin is still getting massive rejections resulting from the trend reversal.

MANA Price Down In Market Value 

According to CoinMarktCap, MANA price has nosedived by 3.04% or trading at $0.6949 as of press time.

MANA price has depreciated in market value, prompting the bulls to wait for the next big wave or a confirmation of a trend reversal before moving to consolidate into long positions.

From July to August, MANA appeared to have allowed the bulls’ entry but has failed to offshoot above the $1.0 price level. With that being said, the key resistance level has been marked at $1.0 while the support zone is at $0.64. Evidently, MANA/BTC has also dropped by 2.9%.

After MANA’s price dipped below the 200-day EMA as seen on April 5, 2022, MANA has retreated further since then.

On the other hand, all the other EMAs such as 20, 50, 100, and 200 are doing great as they sprint above the current price. The buyers are trying to push the price near the 20-EMA.

MANA’s RSI shows a spike from the lower regions. This climb validates the optimistic outlook for the token. Meanwhile, the MACD is looking flat into the negative range as seen in the daily price chart.

MACD Shows No Trace Of Bullish Momentum

The MACD is not demonstrating any bullish momentum as both the trendlines are moving over the neutral range.

RSI is looking bullish as the MANA bulls shoot for a slight bounce above the 20 EMAs. On the other hand, the key support level is near the current levels which means the bears can attempt to short-cover at the earliest possible time.

Decentraland is said to be one of the few cryptos that buyers and traders should have on their active wallets, with its huge market cap of over $1.29 billion as of this writing and circulating supply that surpasses that of Bitcoin by at most 100 times.

Many blockchain-based or NFT games have aspired for decentralization but it seems Decentraland remains to be one of the few that are ambitious enough to make it happen. 

BTCUSD pair breaks past $19K border, trading at $19,445 on the daily chart | Source: TradingView.com

Featured image from Smart Valor, Chart: TradingView.com

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MANA Under Sideways Motion In The Last 4 Months

The MANA relative strength index has shown growth which signals an increase in buying activity.

  •         New developments, partnerships in Decentraland contribute to price spike
  •         Decentraland social mentions amplified by 89.07%
  •         MANA price up by 1.04%

There are so many exciting developments happening for Decentraland (MANA), such as the partnership of StadioPlus with LaLiga, a Spanish football league giant.

The partnership allows LaLiga to feature themed plots of virtual land starred in Vegas City, which happens to own the biggest entertainment, games, and sports areas of Decentraland.

With that being said, a bullish reversal is possible, off-shooting the $0.84 barrier and peaking towards the $1.26 mark.

According to CoinMarketCap, MANA price has skyrocketed by 0.15% or trading at $0.7431 as of this writing.

MANA/USDT Pair: Sideways Rally

The MANA/USDT pair is observed on sideways motion in the last four months. With this rally trend, the $1.15 resistance is now a barrier to any bullish outbreak. However, the $0.756 to $0.74 support levels have set an accumulation of active bullish activity.

Following the retracement that occurred in the second half of August plus the massive sell-off in light of the flush of high CPI data, Decentraland’s price has diminished to the key support of $0.71. On the flip side, MANA has retested the support level many times, triggering a recovery.

At this point, the buyers can resuscitate the prices from the ground up and set a bull run at the key resistance of $0.756. But, in order to do, the buyer will need to snag the supply level of $0.84 to validate this rally.

On the other hand, a breach below the mark of $0.71 signals a downtrend which could lead to MANA losing its $0.71 support.

Decentraland Social Metrics Up 

Decentraland is stirring up enormous social engagement following its development announcements with LaLiga. Stephen Ibbotson, Head of Franchises and Licensing CEP said, “This licensing agreement will allow us to reach a new and significant audience, like that of Decentraland.”

The news has dramatically improved the numbers of Decentraland’s NFT. Decentraland social mentions were amplified by 89.07%.  Social engagement has also improved by 30.6%. More so, Decentraland’s NFT prices have also spiked to 1.66 ETH showing an increase of 9.42%.

Miles Anthony, Decentraland Games’ CEO and Co-Founder tweeted the huge improvement seen in Decentraland towards the end of the Q4.

“Yesterday, on day 2 of ICE Poker Flex being live, we hit all-time highs of 614 DAU (Daily Active Users) and 593 tournaments played”, Anthony said.

MANA total market cap at $1.37 billion on the daily chart | Source: TradingView.com

Featured image from Binance Academy, Chart: TradingView.com

(The analysis represents the author’s personal views and should not be construed as investment advice).

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MANA Seen Rising 11% As Buyers Make A Recovery Attempt

MANA price continues to hover above the $0.8 mark, hinting at a rally targeting $0.86 or peaking by 6.8%.

  • MANA price on a 4-hour chart shows the formation of a rounding bottom pattern
  • August registers a massive sell-off for the MANA/USDT pair
  • MANA buying activity triggers a correction

August registered the most sell-off for MANA, with the MANA/USDT pair down by 32.5% from June to July with key support spotted at $0.75.

On August 29, the crypto was able to bounce back from the support zone with the formation of an engulfing candle hinting at a bullish or aggressive buying activity at this level. The gains generated from June to July were completely disheveled following the recent correction.

According to CoinMarketCap, the MANA price is trading at 0.8025 or up by 0.94% as of press time.

Decentraland: A Play-To-Earn Blockchain-Based Metaverse

Decentraland is a P2E virtual and immersive blockchain-based metaverse that allow players to socialize, explore, and earn while playing in real-time.

The Decentraland project is continuously expanding as the interest in the metaverse exploded roughly about a year ago. Players can buy virtual real estate that they can build upon or develop while interacting with other players.

The beauty of this project is that you can take ownership of a virtual land and earn from it. Basically, lots have previously been selling for as low as $20 but now you can sell these virtual lands for millions.

Over the past couple of days, MANA was trying hard to hold on to the support zone found at $0.75. Consequently, a bull run was seen on September 4 when it was able to breach the $0.8 resistance which means the buyers may have been working on recovery.

MANA price is trying to retest which provides an avenue for interest traders to jump in. But, there is a little to moderate weakness on the higher price rejection which may pull the coin to the opposite direction.

MANA To Break Past The $0.86 Mark?

The bullish momentum may trigger the rounding bottom pattern which means it has a high potential to surpass the $0.86 zone and promote faster recovery.

On the flip side, if MANA buyers fail to sit still at the $0.8 zone, closing a candle below the key support level may hint at a fake breakout triggering a pullback on price at $0.75.

RSI for the crypto demonstrates a bullish divergence within its range which a spike above the midline would suggest amplification of bullish movement.

 

MANA total market cap at $1.42 billion on the daily chart | Source: TradingView.com
Featured image from Coinpedia, chart from TradingView.com

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Decentraland Consolidates Near $1.05 – Can MANA Attract Buyers Now?

Decentraland (MANA) shows an uptick after it has successfully breached a critical supply level adjacent to $0.9405.

  • Decentraland (MANA) on an uptrend following breach on critical supply mark near $0.9405.
  • MANA price remains bullish with a daily candlestick hovering above $1.0605 hinting further gains.
  • MANA price plunged for the second straight session spotted on Saturday.

Current price analysis also shows a prolonged consolidation as a couple of candlesticks would need to close higher than its current level in order to sprint further.

MANA Trades At $1.07

According to CoinMarketCap, MANA/USD trades at $1.07 or up by 2.43% as of press time. The 24-hour trading volume improved a bit compared to a couple of hours ago and is currently riding at $148,165,816 or down by 13.47%.

MANA price was down by 28% a couple of hours ago so this is definitely a huge improvement so far. A downtrend in price with a reduction in trading volume would usually hint a downside trend but so far the numbers are definitely improving by the hour.

Judging by the daily chart, MANA price certainly looks bullish with established higher highs as well as higher lows. Interestingly, the MANA bulls are trying to shift the support into a resistance zone. More so, MANA price was able to break the important 50-day EMA seen at $0.947.

Buying Pressure Can Trigger Uptick In MANA Prices

It’s wise to note that Decentraland has been trading below the EMA since April. The chart also shows a Doji candlestick pattern indicating some form of indecisiveness or apprehension from investors. But, a reinvigorated buying pressure can surely trigger the prices to go higher.

More so, a daily candlestick spotted well above the session’s high leaves a flicker of hope for the bulls. With that said, the bulls will definitely shoot next for the $1.20 level.

Generally, the total volume levels would usually go down following a price consolidation. More so, the volume may also pick up close to the highs as seen in the charts. Following the third session high, volume expansion becomes apparent after the downtrend. More so, the breach in the support will strengthen the validity of the pattern.

Trading volumes for MANA is observed to be trading below its average numbers for the past few weeks; plus the price trading shooting for a slight uptrend. Now, if MANA price fails to close above the $1.05 mark in the next sessions, MANA might possibly slip into a downtrend.

MANA total market cap at $1.98 billion on the daily chart | Source: TradingView.com

Featured image from Medium, Chart from TradingView.com

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MANA Bulls May Outsmart The Bears If They Stick To These Support Lines

Decentraland (MANA) may appear bullish as seen in the past couple of days due to buyers keeping the prices up hovering above 200 DMA as observed on the hourly chart. Regardless, the token still trades the sideways horizontal range with $0.75 for support and $1.0 resistance.

With the escalation seen on the hourly chart, trading volume has also spiked by 290% in the past couple of hours. Buyers saw a decline in MANA in triggered by the sell-off as it saw a decline to a 90-day low of $0.772 last May of 2022.

Despite the aggregation seen on the sideways range in the past few days, speculators saw the formation of a rounding bottom pattern on the daily price chart. With that said, buying of the token has intensified which prompted the price action to form higher-highs.

MANA Price Currently Trades at $1.02; Drops by 2.36%

According to CoinMarketCap, MANA price is currently trading at $1.02 or a dip of 2.36%. Despite it being bullish, the market capitalization stays neutral at around $2 billion as seen in the past 24 hours. With the rise of MANA, speculators also saw a boost in trading volume by 290% in the past 24 hours but still the MANA/BTC pair has dipped by 1.4%.

The price of MANA may rally as buyers keep the momentum and price up or above 200 DMA as presented on the hourly charts. On the daily charts, the 20-day EMA remains to be pumping zone for many buyers because the bears can’t intervene as long as they stick to the support lines.

MANA Overbought, Needs to Attract New Buyers

RSI also continue to hover and breached bullish hurdle above the semi-line, moving towards the overbought zone. More so, the MACD indicator also pinpoints to an uptrend seen on a daily time frame. MANA is moving towards the resistance zone. So, even if the coin is regarded as extremely bullish, there is always the potential of the coin to rally above the resistance line of $1.5.

After a bitter-sweet taste of uncertainty, the coin is now soaring high with some interference coming from the bears. Apparently, Bitcoin’s price spike is a huge boost to MANA’s uptrend movement as the king of crypto, which now trades above the 23k mark, supports and pushes the token.

The rate of recovery shown by MANA may not be enough to boost investor confidence and the token may need to attract more new buyers to ensure full and continuous recovery.

MANA total market cap at $1.9 billion on the daily chart | Source: TradingView.com

Featured image from CoinCentral, Chart from TradingView.com

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Decentraland Blooms In Green In Last 4 Days; Boosts Traders’ Appetite In MANA

Decentraland (MANA) price has been on a surge for quite some time after registering a gain of 15% for the past four days. The rise in trading volume implies that traders and investors are overall happy with the increase in prices. With an increase in buying activity, MANA might possibly eclipse the previous month’s coma state.

MANA price currently faces incrementing supply pressure coming from the resistance spotted at $1.1. MANA’s intraday trading volume is at $247.9 Million, showing a loss of 27%.

Chart from TradingView.com
MANA/USDT Shows Upbeat Reversal Pattern

The MANA/USDT daily chart shows the formation of a rounding bottom pattern. Earlier, the chart revealed a bullish reversal pattern that has set off the two stages with a downfall trend from May to June followed by consolidation as the coin rallied.

Technically, MANA was meant to breach the resistance zone of $1.1 and push the coin to hit $1.36. On July 13, MANA’s price bounced back from its bottom support of $0.75 and soared by 44.61% in a month’s time.

With today’s chart showing a price pump of 0.88%, buyers tried to end this with a bull run. But, the daily candlestick that closed hovering above the resistance of $1.1 will need to validate the breakout. The rally may prompt the price of MANA to increase by 26.2% to a resistance of $1.36.

Decentraland (MANA) Targets Next Support Zone

If the bulls can maintain their momentum, MANA might be able to outpace the current ceiling price and target the next support zone spotted at $1.68.

However, if Decentraland’s price revisits the resistance zone of $1.1, and breaks free from the 20-day EMA, then this will validate the return of a consolidation phase.  The Bollinger Band indicator shows price jumps showing that a minor is imminent before a breach. But, the midline that provides support should be able to push forward the coin’s recovery.

RSI also shows a rally compared to a price action implying the sustained and increased bullish action. In fact, RSI also indicates that the price may break away from the $1.1 resistance.

Virtual Real Estate Revenue Streams

Decentraland (MANA) is powered by the Ethereum blockchain. This is a platform that allows users to buy and sell virtual real estate. In addition, users can also build, explore, socialize, and monetize virtual lands in this digital environment.

The beta for Decentraland was rolled out in 2019 and has become widely accessible especially to the general public since February 2020. Following the successful beta launch, users were able to explore and develop different activities such as games and other experiential activities.

Currently, a lot of Decentraland users are now generating generous revenue streams from virtual real estate through advertising, leasing, and other activities. You can also resell and produce virtual goods in Decentraland.

MATIC total market cap at $2.07 billion on the daily chart | Source: TradingView.com

Featured image from TheNewsCrypto, Chart from TradingView.com

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Decentraland Up For 4th Straight Session As MANA Targets $1.5

For the fourth straight session, Decentraland has shown up and has seen a surge of nearly 2%. More so, MANA’s fourth day exhibited a price spike trading above $1.

Metaverse has been picking up steam especially since Facebook was revamped to Meta. Prior to that, Decentraland has always been extremely popular, especially for those who are into the virtual world but have grown tired of child play.

The Popularity Of Decentraland MANA

Basically, Decentraland was geared towards teenagers and adults who are looking to socialize, build, and earn with virtual land. All the virtual lands and assets seen in Decentraland can be bought with the MANA token.

Virtual real estate has also been very in-demand and MANA has been consistently shaping its virtual environment to provide sophisticated and breathtaking experiences for users where they are in complete command of their own virtual worlds.

Decentraland has become immensely popular and powerful that many giant companies like Samsung, Adidas, and Atari have also bought their virtual real estate properties right on Decentraland.

In addition, Decentraland has also entered partnerships and secured funding from companies like Genesis One Capital, George Burke, Boost VC, Animoca Brand; and the like.

However, despite partnerships and support from many popular brands, MANA still suffered some low blows in the last few months as it dipped by as much as 70% but was able to recuperate by 12% in July.

Decentraland Looking Bullish; Targets $1.5

Looking at the daily chart, there is a good chance that the price boost that MANA is experiencing will go on for the next trading sessions. Moreover, it shows a long-term upward trend. In fact, the Decentraland price target is $1.5 next.

Judging by the Williams Alligator trend, it shows a retrace on the upside which means that MANA will move towards August with a bullish move. However, that analysis may be refuted if the price will decline below $0.84 which signals a bullish standpoint.

Decentraland is looking bullish since Friday. The token is currently down by 6.31% on its five-day high and higher by 13.87% compared to its five-day low that registered at $0.8460.

Currently, MANA price is sliced in the middle of the support and resistance zone, with resistance found at $0.9997 and the support zone set 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 $1.91 billion on the weekend chart | Source: TradingView.com

Featured image from VOI, chart from TradingView.com

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Decentraland Jumps 15% In 3 Days – Who’s Buying MANA?

With the recent gains of Decentraland (MANA), crypto aficionados are expected to buy. MANA has sustained its bullish streak despite minimal decline seen in the past trading session. The coin opened at a lower price but quickly maneuvered and retraced after retesting at $1.02.

Consequently, a breach above $1.0 is set to generate massive gains. Looking at the daily chart, MANA price has skyrocketed with an increase of 2.20% in the past 24 hours, and has been up 15% in the last three days. The price action shows how MANA is holding it strongly at the $0.99 mark.

Suggested Reading | Solana (SOL) To Hit $166 By 2025, Despite Current Bearish Conditions

Decentraland (MANA) Consistently Bullish

Seeing the Inverted Head and Shoulder formation shows a bullish trend predictive of a breach on the higher zone. 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 are looking at the $1.12 mark which may be followed through at $1.30.

While MANA moves into an asymmetrical triangle pattern, it’s shaping up to form a double top. With the price having retraced from that point and could now test at $0.92. Additionally, the price also gave way to a bearish Bat pattern which rarely happens.

MANA is definitely shooting for an upward trend on the higher timeframe but a correction moving near $0.90 is possible with a lower time frame. So, once the price breaches $1.0,  it signals a great buying opportunity.

Suggested Reading | Cardano (ADA), After 35% Spike, Locks On Next Target: $0.55

Despite the rapid price fluctuations of Decentraland (MANA), analysts have always been bullish on the token. Being a metaverse token, MANA has strengthened in price since last year with the launch of Meta (formerly Facebook).

In a world that is said to be owned by users or the metaverse, MANA has proven time and again that as a frontrunner in crypto gaming, it can be the king of the metaverse or of the 3D virtual world.

MANA total market cap at $1.84 billion on the weekend chart | Source: TradingView.com
Decentraland’s Strong Metaverse Presence

Decentraland is known as the first-of-its-kind virtual world that is wholly owned and created by users. Decentraland also has its own NFT marketplace. Users can freely explore and trade inside the ever-evolving metaverse. They can buy and sell plots of land and even pets like cats with the MANA.

More so, Decentraland has a DAO pretty much like RoboApe. With that being said, MANA hodlers have the say and can vote about changes they want in the Decentraland. The meme token culture is continuously shaped and modified in a safe metaverse.

To date, the Decentraland marketplace has a total of 160,000 sales plus a trading volume that peaks at as much as $348.84 million.

Featured image from VOI, chart from TradingView.com