MANA Under Sideways Motion In The Last 4 Months

Christian Encila

2 years ago

3 mins read

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The MANA relative strength index has shown growth which signals an increase in buying activity.

New developments, partnerships in Decentraland contribute to price spike
Decentraland social mentions amplified by 89.07%
MANA price up by 1.04%

There are so many exciting developments happening for Decentraland (MANA), such as the partnership of StadioPlus with LaLiga, a Spanish football league giant.

The partnership allows LaLiga to feature themed plots of virtual land starred in Vegas City, which happens to own the biggest entertainment, games, and sports areas of Decentraland.

With that being said, a bullish reversal is possible, off-shooting the $0.84 barrier and peaking towards the $1.26 mark.

According to CoinMarketCap, MANA price has skyrocketed by 0.15% or trading at $0.7431 as of this writing.

MANA/USDT Pair: Sideways Rally

The MANA/USDT pair is observed on sideways motion in the last four months. With this rally trend, the $1.15 resistance is now a barrier to any bullish outbreak. However, the $0.756 to $0.74 support levels have set an accumulation of active bullish activity.

Following the retracement that occurred in the second half of August plus the massive sell-off in light of the flush of high CPI data, Decentraland’s price has diminished to the key support of $0.71. On the flip side, MANA has retested the support level many times, triggering a recovery.

At this point, the buyers can resuscitate the prices from the ground up and set a bull run at the key resistance of $0.756. But, in order to do, the buyer will need to snag the supply level of $0.84 to validate this rally.

On the other hand, a breach below the mark of $0.71 signals a downtrend which could lead to MANA losing its $0.71 support.

Decentraland Social Metrics Up

Decentraland is stirring up enormous social engagement following its development announcements with LaLiga. Stephen Ibbotson, Head of Franchises and Licensing CEP said, “This licensing agreement will allow us to reach a new and significant audience, like that of Decentraland.”

The news has dramatically improved the numbers of Decentraland’s NFT. Decentraland social mentions were amplified by 89.07%. Social engagement has also improved by 30.6%. More so, Decentraland’s NFT prices have also spiked to 1.66 ETH showing an increase of 9.42%.

Miles Anthony, Decentraland Games’ CEO and Co-Founder tweeted the huge improvement seen in Decentraland towards the end of the Q4.

“Yesterday, on day 2 of ICE Poker Flex being live, we hit all-time highs of 614 DAU (Daily Active Users) and 593 tournaments played”, Anthony said.

MANA total market cap at $1.37 billion on the daily chart | Source: TradingView.com

Featured image from Binance Academy, Chart: TradingView.com

(The analysis represents the author's personal views and should not be construed as investment advice).

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.