MANA price prediction reveals an upcoming breakout from the ‘Bitcoin price action’ syndrome. Long-time crypto-traders may recall that MANA has been a trend almost identical to Bitcoin price movement, but the future looks bright for Decentraland.
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Today, Decentraland is hovering north of $2.77, according to trading data on CoinMarketCap. MANA commands a fully diluted market cap of about $5 billion. The circulating supply is just over 1.8 billion MANA out of the total supply of just over 2 billion MANA.
For all the seemingly capricious moves of the crypto market, there are many reliable signals for predicting whether a coin will be going up or down. In this article, we use tested technical analysis patterns in Decentraland Price Prediction.
Let’s delve into MANA price prediction and the technical analysis that’s building up to surpass trader expectations. Can the bullish outlook continue in the future, and is the cryptocurrency a solid buy?
MANA Price Prediction: Technical Analysis
Judging by previous MANA price predictions, one thing has been clear, the only trouble Decentraland faces is the market’s over-dependency on the Bitcoin price prediction. However, this time MANA exhibited a consolidated effort to stand firm on its own merits and stayed very much resilient as compared to its crypto peers.
Decentraland (MANA) has managed to protect key price levels since the start of August, following a turbulent trading season in Q2 of 2021. The coin seems to be consolidating in a defined range, making calculated moves that in a broader view, carefully build up to a solid uptrend. Following the corrective moves of August, we can project the road ahead.
The RSI index trades currently at around 58.28; it remains in the mildly overbought zone. However, this figure is still neutral and does not show any divergence against MANA. The DMI is bullish; the +DMI is strongly dominant.
The pattern analysis shows that a possible breakout on the four-hour chart above $0.91 is still valid and very much in action. The examination of the chart above shows that the coin has continued with its up move following weeks of solid consolidation. It remains above the pattern support trend line drawn from the lows of mid-July.
Decentraland has resolved to trade in some ranged consolidation. In the coming weeks, analysts recommend using the ranged moves to book positions and put money on the table. The defensive sectors of user-owned virtual worlds are likely to show resilience; traders should expect an attempt to correct its relative underperformance.
In this case, the trader should avoid shorts, buy MANA selectively, and vigilantly protect profits as it moves higher. The technical analysis reveals that despite the lackluster performance, Decentraland remains among the leading quadrant.
Even though it appears to be firmly maintaining its relative momentum against the broader cryptocurrency market, MANA could do better against the benchmark. The pair has been forming higher highs this past month, also indicating a bullish sentiment, which is slightly stronger than the bearish one.
The technical outline is a path of least resistance that remains lower given the weakened momentum characteristics. MANA price prediction reveals a reasonably well-defined upward-moving range, a state it will continue to trade in for the weeks to come.
Decentraland Price Prediction: Market Opinions
Is Decentraland (MANA) headed for the moon? The fact is, Decentraland (MANA) has defied big odds and consistently beat expectations. While the crypto market has taken a sharp turn over the past year, the technical analysis exposed a setup for making considerable gains. Now, do analysts and forecasting pros agree?
TradingBeast has MANA rooted firmly in its list of solid buys. If this MANA price prediction is anything to go by, Decentraland could be trading just above $1 by the end of September. Building on that momentum, TradingBeast projects a valuation of $1.4 by August 2022.
Can MANA really double its coin prices to $2 by 2025 to become one of the most valued, best-earning cryptocurrencies on the planet? In effect, the answer is a strong yes, according to WalletInvestor. Moreover, based on this price prediction, MANA could zoom past notable resistance levels to record new ones.
The probability generated by simulation conducted by DigitalCoin shows Decentraland has a solid chance of hitting $1.57 by Q2 2022. It is a big leap of faith backed by strong fundamentals. In fact, DigitalCoin pegs its most likely price in five years at $2.62 by 2025.
Even more bullish, Gov.Capital forecast MANA clocking $4.75 by 2025. The head-spinning prediction is headlined with a projection that Decentraland could hit $1.34 to a new target of $4.75. If MANA soars as per Gov.Capital forecasts it could more than fourfold in the next few years.
The MANA price prediction given by CoinQuora is in a fast lane to reach $10 by the end of 2022 but airs on the side of caution. This forecast is grounded on the probability that the road ahead will have no major falls or upcoming turbulence in the crypto market.
These bullish sentiments are shared by cryptocurrency trading expert – TradingView, which anticipates a bullish trigger with expected resistance at $1, but the pressure should suffice. Likewise, ProjectSyndicate projects MANA could swing to its best levels, thereby classifying MANA as a strong buy and hold cryptocurrency.
Latest News and Happenings Concerning Decentraland
First off, the world’s most valuable brand, Coca-Cola, is planning on launching NFTs on the Decentraland ecosystem. The project undertaken by Tafi, an Avatar developer, will be Coca-Cola’s first NFT collection, featuring branded bubble jackets, sound visualizers, and collectible trading cards.
Sotheby, one of the world’s largest brokers in fine and decorative art, jewelry, and collectible, opened a virtual replica of its London galleries in Decentraland. The fact that a 250-year-old corporation resolved to build an art engagement platform on Decentraland is a boost of confidence for bullish MANA price prediction.
At the same time, Decentraland is embarking on an ambitious plan to attract big-time video game studios to launch Big Time Studios, with the backing of renowned angel investors. Everyone from Ashton Kutcher to Sam Bankman-Fried, to firms such as North Island Venture and Digital Currency Group (Which owns CoinDesk), among others, got a piece of the $10.3 million Series A round of funding.
Recently, a record-setting purchase was made on the Decentraland ecosystem. Boson, a blockchain protocol using smart contracts for real-world power commerce, paid $704 worth in MANA for a virtual plot to build a virtual mall. The rental space, once completed, will allow the player to purchase digital assets for browser-based games on Decentraland, which they can exchange for physical goods and services.
With NFT still growing in popularity, Neo-Pop Surrealist – Philip Colbert – is said to be tapping 80s band Devo for an NFT network and musical performance in Decentraland. The projects, Lobsteropolis City and Lobster Land Museum, will be built on Decentraland. Once completed, the virtual spaces will feature performances by legendary art-rockers. Doors will open for users to visit and purchase records from the Lobster Record Store.
MANA Price Prediction: Verdict
Decentraland price prediction show MANA is likely to reach at least $1.9 by 2021. Looking ahead, there are many ways for the trading cycle can play out in favor of Decentraland. These MANA price prediction are expected to play out as long as the technical and on-chain data continues to show strength.