Decentraland Jumps 15% In 3 Days – Who’s Buying MANA?

Christian Encila

1 year ago

2 mins read

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With the recent gains of Decentraland (MANA), crypto aficionados are expected to buy. MANA has sustained its bullish streak despite minimal decline seen in the past trading session. The coin opened at a lower price but quickly maneuvered and retraced after retesting at $1.02.

Consequently, a breach above $1.0 is set to generate massive gains. Looking at the daily chart, MANA price has skyrocketed with an increase of 2.20% in the past 24 hours, and has been up 15% in the last three days. The price action shows how MANA is holding it strongly at the $0.99 mark.

Decentraland (MANA) Consistently Bullish

Seeing the Inverted Head and Shoulder formation shows a bullish trend predictive of a breach on the higher zone. Further, MANA’s price is consistently trading above the 50-day EMA as seen in the past few days which confirms a potential breakout. MANA buyers are looking at the $1.12 mark which may be followed through at $1.30.

While MANA moves into an asymmetrical triangle pattern, it’s shaping up to form a double top. With the price having retraced from that point and could now test at $0.92. Additionally, the price also gave way to a bearish Bat pattern which rarely happens.

MANA is definitely shooting for an upward trend on the higher timeframe but a correction moving near $0.90 is possible with a lower time frame. So, once the price breaches $1.0, it signals a great buying opportunity.

Suggested Reading | Cardano (ADA), After 35% Spike, Locks On Next Target: $0.55

Despite the rapid price fluctuations of Decentraland (MANA), analysts have always been bullish on the token. Being a metaverse token, MANA has strengthened in price since last year with the launch of Meta (formerly Facebook).

In a world that is said to be owned by users or the metaverse, MANA has proven time and again that as a frontrunner in crypto gaming, it can be the king of the metaverse or of the 3D virtual world.

MANA total market cap at $1.84 billion on the weekend chart | Source: TradingView.com

Decentraland’s Strong Metaverse Presence

Decentraland is known as the first-of-its-kind virtual world that is wholly owned and created by users. Decentraland also has its own NFT marketplace. Users can freely explore and trade inside the ever-evolving metaverse. They can buy and sell plots of land and even pets like cats with the MANA.

More so, Decentraland has a DAO pretty much like RoboApe. With that being said, MANA hodlers have the say and can vote about changes they want in the Decentraland. The meme token culture is continuously shaped and modified in a safe metaverse.

To date, the Decentraland marketplace has a total of 160,000 sales plus a trading volume that peaks at as much as $348.84 million.

Featured image from VOI, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.