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