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Decentraland (MANA) Price Prediction – Is it Making a Comeback?

Decentraland Price Prediction
Decentraland Price Prediction

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Decentraland MANA has been around since 2019 and is one of the cryptocurrencies whose value is rising. Due to the high demand for metaverse tokens, initial MANA investors received a 100% return on their investment.

Recently, it has had some incredible runs. Does the potential for a bull run in the following months still exist? 

Look at MANA’s performance in this pricing analysis and forecast for Decentraland. 

Decentraland MANA Price History

At its launch, the Decentraland cryptocurrency cost about $0.024 per unit. Later, it rose to $0.24 but was rejected, descending back to its earlier support levels. Decentraland’s price traded in the same price range without experiencing any notable changes. The coin then moved through several other equivalents quickly and forcefully.

In a bullish spike, the price of the MANA cryptocurrency on Decentraland increased to nearly $0.80. Even after reaching a new high of $1.56, MANA’s price continued to move in a bullish direction. But after hitting a new high, the MANA continued to correct down, and the cost of Decentraland fell below $0.65.

After that, the price of MANA coins increased significantly, reaching over $3.5. The trading of the currency was considerably better after that and reached a new high of $5.90. 

Decentraland’s price fell to about $2 due to the MANA price’s significant decline following its new ATH. The price of Decentraland rose to about $3, where it was before.

Decentraland (MANA) Price Analysis(Key Points)

According to the four-hour chart above, MANA took part in the bullish rally after hitting the bottom support level at $0.285 after a lengthy consolidation that lasted for about two months. 

The price was expected to fall further as the market approached the 0.465 resistance. However, a further hike in price levels shortened this, causing the need to form a double-top pattern at 0.7291.

The double top indicates a fallback in prices to the previous resistance at 0.6355, now a critical support level to watch. If the price should fall back, this level might make huge developments on the bull rally, after which the price should be pumping up to 0.8639. Additionally, the MACD is above the 200 MA, which indicates that the market is bullish. The MACD crossover is also a strong indicator of further surging crypto prices.

Current MANA Price

The current price of Decentraland is $0.706486, and its 24-hour trading volume is $1,140,210,331. In the past 24 hours, the price of MANA has increased by 21.9%. There are 1.8 billion MANA coins in circulation, with a total supply of 2193239727.32015. TokoCrypto is the busiest exchange if you’re trying to purchase or sell Decentraland.

MANA Price Prediction

According to technical analysis, the price of Decentraland has had a historically long journey compared to other digital assets, which may be one of the main reasons for its appeal. Therefore, we predict the price of MANA to reach $1.11 in the second quarter of 2023. 

The rise is going to be gradual, with no significant drops. Averaging $0.95 in price is ambitious. But it will likely be possible soon due to anticipated collaborations and advancements. The minimum value for MANA is forecasted to be $0.72.

MANA may also surpass $1.11 due to the potential announcements of numerous new partnerships and initiatives. However, before placing any bullish bets, we should wait to see if the MANA’s relative strength index comes out of the oversold zone.

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