Decentraland Jumps 15% In 3 Days – Who’s Buying MANA?
24 Juli 2022 - 1:17PM
NEWSBTC
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
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