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Decentraland Price Is Up 160% In 2023, How High Can MANA Go?

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Decentraland (MANA)
Decentraland (MANA)

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Decentraland price keeps zooming in after breaking the $0.7 resistance level on its way to the $0.8 psychological level. Like other tokens in the metaverse, the MANA price has been soaring, recording 160% gains since the start of the year. Other metaverse tokens such as Zilliqa (ZIL), the Sandbox (SAND) and Apecoin (APE) have also been rising as investor interest turns to such crypto with real use cases. 

What does the technical setup look like for Decentraland?

Decentraland Price Prediction – Key Levels To Watch

After finding support from the $0.0285 support floor, MANA began an upward trajectory rising as much as 160.2% over the past 14 days to brush shoulders with $0.75. At the time of writing, the altcoin was trading in the red following the appearance of doji still on Monday’s daily chart. This signifies a fierce fight between the buyers and sellers as the bears focus on regaining control. 

The Relative Strength Index’s (RSI) value at 90 illustrated how massively overbought Decebtraland was, suggesting the recent bullish momentum may soon run out of steam. As such, there may not be many buyers to sustain the higher levels, occasioning a retracement. 

As such, if bears have their way, the price may turn down from the current levels with the first line of defense arising from the $0.65 psychological level. Additional support lines may emerge from the 23.6% Fibonacci retracement level at $0.62, the 38.2% level at $0.567, and the 50% Fibonacci at $0.522. 

Lower than that, the 50-day exponential moving average (EMA) at $0.487, the 70% retracement level at $0.452, and the 100-day EMA at $0.418 would bring solace to the price before going the full retracement toward the $0.285 support floor

MANA/USD Daily Chart

Decentraland Price Chart Jan 16
TradingView Chart: MANA/USD

On the upside, the upward movement of the Moving Average Convergence Divergence (MACD) indicator reinforced the bull’s grip on the MANA price. As such, if more buyers enter the market at higher levels, they will push the Decentraland price to record higher highs. 

If they succeed, MANA will overcome immediate resistance from the 200-day EMA currently sitting at $0.70 to confront resistance from the local high at $0.745. Overcoming this level could see a higher move toward the $0.879 level embraced by the -23.3% Fibonacci retracement level. Such a move would constitute a 24% increase from the current levels. 

C+Charge (CCGH) – A Promising Alternative To MANA In Presale

As the electric vehicles (EV) trend continues to grow, green cryptos allowing peer-to-peer (P2P) vehicles to be sustainably charged via blockchain technology have entered the market. That is why C+Charge is doing so well.

The number of EV’s in the US increased by 87.5% in the first half of 2022, while the growth in charging points is 31%. C+Charge aims to accelerate the growth of charge stations with a unique payment solution. It offers a one-of-a-kind payment platform built powered by blockchain technology and a token with real-life utilities.

C+Charge prides itself as a pioneer in using blockchain technology for sustainable EV charging. Also, considering its rather large fan base, the C+Charge pre-sale has been doing exceedingly well since it started and has sold up to $2588,000. 

The native token for the C+Charge ecosystem is CCHG, which holders can use to pay for power and download the coin’s mobile app. This also makes it possible to track the performance of the EV car and know when it needs repair.

Visit C+Charge here

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