- Price (MANA): (previous week: 2.58 USD)
- Resistances / Targets: $ 3.33, $ 3.59, $ 4.04, $ 4.94, $ 6.10, $ 9.18
- Supports: $ 3.08, $ 2.83, $ 2.63, $ 2.49, $ 2.33, $ 2.19, $ 1.69, $ 1.49, $ 1.38, 1.11 USD
- MANA course after course correction with a new attempt to climb.
- The first major price target is at USD 3.59.
- USD 2.19 acts as the relevant support level.
The course of Decentraland benefited massively from the renaming of Facebook to Meta. The announcement that Mark Zuckerberg ascribes great potential to the Metaverse in the future caused all crypto currencies from the Metaverse area to increase significantly in value. The MANA price exploded by more than 400 percentage points to a new all-time high at USD 4.94 before a correction back to the EMA20 (red) at USD 2.19 set in. Starting from this support level, Decentraland rose again noticeably northwards in the last few days of trading.
Bullish variant (MANA)
After a 55 percent consolidation from the all-time high back to the EMA20, Decentraland’s share price has recently recovered significantly. Today, Friday, November 12th, the price of Decentraland shows again from the bullish side. Thus, the price development of Decentraland is currently decoupled from Bitcoin’s price movement. The MANA rate is currently trading in the area of the red resistance zone, the so-called “golden pocket”. If the bulls manage to heave Decentraland above this resistance zone between USD 3.33 and USD 3.46 at the daily closing price, the horizontal resistance at USD 3.59 will first come into focus. Should this resist be pulverized, an immediate march towards the 78 Fibonacci retracement at USD 4.04 is to be expected. This resistance should only hinder the MANA course for a short time.
Since the upper Bollinger Band continues to bend up, a jump towards USD 5.00 might even be possible in the short term. If there are no massive sales by the bull camp at the all-time high, a subsequent increase to USD 6.10 (127 Fibonacci extension) is conceivable in the coming trading days. Above that is the next potential price target at USD 6.57. Only when the 138 Fibonacci extension can be broken sustainably, however, will the medium-term price target for the coming trading weeks of USD 7.56 move into the focus of investors.
In the long term, a march through to the 200 Fibonacci extension at USD 9.18 cannot be ruled out. Despite all the euphoria surrounding the Metaverse, investors should always take a look at market capitalization. With currently around USD 4.4 billion, the Decentraland market cap already includes many advance praise. A close tripling of the exchange rate to USD 9.18 would put Decentraland in a ranks with Polygon (Matic) and Uniswap (UNI). It remains to be seen whether the Metaverse topic can expand its hype in the coming months.
Bearish variant (MANA)
However, if the MANA price does not succeed in breaking through the red resistance area sustainably, a retest of the horizontal support line at USD 3.08 must first be planned. If this is dynamically undershot, a relapse to the 50s Fibonacci retracement of the current trend movement at USD 2.83 is likely. Here the cops are likely to put up more resistance again. If Decentraland also falls below this support line, the correction expands again into the orange support zone. The bulls have recently repeatedly defended the lower edge of this area of the chart. If the MANA rate falls back below USD 2.49, an initial directional decision is made in the area of USD 2.33. The EMA20 and the 38 Fibonacci retracement run at this cross support.
Should the bears build up enough selling pressure to sustainably push the price below this strong support, the weekly low at USD 2.19 will come into focus again. A break in this support would immediately generate new downside potential and initially lead the MANA rate to the cross support from the 23 Fibonacci retracement and the old all-time high at 1.70 USD. The EMA50 (orange) also runs here. The buyer side will want to use this price mark for new entrants. If, contrary to expectations, this strong support breaks, an expansion of the correction up to the USD 1.38 mark should be planned. The supertrend is currently running in the daily chart. If there is no countermovement to the north at this price mark either, a setback to the maximum bearish price level at USD 1.11 cannot be ruled out.
The RSI as well as the MACD indicator show a buy signal in the daily chart. As long as the RSI indicator does not fall back into the neutral zone between 45 and 55, a significant price correction is not to be expected.
Decentraland Price Prediction 2021
If all markets turn favorable, this digital asset is set to break all barriers and perform exuberantly, scaling the peak as aforesaid. Transgressing all limitations over the next year, MANA would surely show signs of fortune for its users as per our unbiased crypto forecast. Backed by robust smart contracts, Decentraland (MANA) price may easily touch $0.95 by the end of the year 2021.
Decentraland Price Prediction 2022
Considering there are no sudden jolts ahead for cryptocurrency markets, Decentraland (MANA) token is all set to affirm its strong position as a major attraction among its investor community. The road ahead is full of petals provided the investor confidence keeps booming, resulting in a major push to the price, taking it to cross all barriers scaling $1.2 in the crypto market. Users should invest at the current prices to gain significant profit in the future.
Decentraland Price Prediction 2023
Decentraland (MANA) has established a fast, reliable network and works with the user experience of the product. Based on our Decentraland price forecasts, these features can help the MANA token gain a much higher price of $1.70 in 2023. If the drive for functional crypto continues into 2023, the crypto may even see a paradigm rush as per our MANA price prediction.
Decentraland Price Prediction 2024
There are quite a few forecasts going forward for Decentraland (MANA). Especially keeping in perspective the technological announcements and progress the company has designs on, there are few forecasts that the MANA price may reach $2 in the crypto market.
Decentraland (MANA) Price Prediction 2025 & Beyond
Decentraland is also active in community initiatives and through which we are optimistic about the token’s future growth in terms of different factors like prices, volume, upgrades, etc. considering they keep up momentum garnering a significant market cap, their initiatives with a focus on education, outreach, and innovations may take MANA token price to an appreciable level of $2.8.
Frequently Asked Questions
Why is the price of Decentraland (MANA) rising?
Owing to the transaction speed, Decentraland (MANA) is a special attraction for buyers worldwide due to its offerings and financial services. MANA might grow in the future as it allows the users to make transactions to buy virtual space in the form of NFTs. Over the last few months, NFTs have become popular, and hence, the popularity of Decentraland has blown up, which helps to grow its ecosystem along with its price.
Why do people trust Decentraland?
Decentraland is the Ethereum-based fastest-growing metaverse. You can create your applications, explore other users’ worlds, and even trade to earn profits. The main reason for the MANA token is the assurance of speed. A decentralized platform only adds up to the scientific algorithm of safety with speed, ultimately making masses trust the platform seeing the future price of Decentraland to gain momentum.
How does Decentraland price gain significance in the market?
There are many platforms and software roaming in the market which make big promises but do not live up to them. Decentraland Mana is one such platform that stands true to its merit. It would be necessary to mention that investors have to repose their faith in the platform for it to rise on exchange and also keep tracking the increase in the token price before investing.
Where can I buy Decentraland (MANA)?
As a naïve entrant, all esteemed exchanges, including Coinbase Pro, Huobi Global, and many more, happen to demonstrate this Decentraland as virtual currency on their product palette. You also tend to benefit from trading Decentraland directly for fiat currencies like USD, EUR, GBP, etc., or other cryptocurrencies on many exchanges. Investors can also benefit from the block rewards program on Decentraland MANA and follow digital coins price prediction.
Can I make money with Decentraland?
Indeed yes. Since the currency is just a few years old, we expect its performance will be quite bullish, say at least for five years. The movement of Decentraland price prediction should be checked on the crypto exchange, and MANA can be tracked diligently in the digital coins market. Investors are advised to do their calculations following market predictions for trading in Decentraland MANA.