MANA describes itself as a virtual reality platform powered by the Ethereum blockchain, where users may develop, experience, and monetize content and applications.
Users in this virtual environment buy pieces of land that they can later navigate, build on, and monetize.
Decentraland was founded following a $24 million initial coin offering (ICO) in 2017. The virtual world entered closed beta in 2019 and will be open to the public in February 2020. Since then, users have built a variety of interactive experiences on their LAND parcels, such as interactive games, huge 3D scenes, and a number of other interactive activities.
MANA and LAND are the two tokens used by Decentraland. MANA is an ERC-20 token that needs to be destroyed in order to obtain non-fungible ERC-721 LAND tokens. MANA tokens can also be used to buy avatars, wearables, names, and other items in the Decentraland marketplace.
Decentraland (MANA) is a decentralized virtual world platform powered by Ethereum blockchain technologies, where users may develop, test, and monetize content. In summary, users use MANA tokens to purchase virtual plots of land as NFTs on the Decentraland platform. Progress in the game is solely dependent on the players’ efforts and imagination.
Price:
In the last seven days, the Decentraland has dropped by 3.73%. In the last 24 hours, the price fell by 1.56%. In the last hour, the price has risen by 0.35%. The current price per MANA is 31.60. Decentraland is 93.49% of the way down from its all-time high of 485.57. There are currently 1,893,095,370.643 MANA in circulation.
The current price of Decentraland is $ 0.384427, with a 24-hour trading volume of $ 58.84M, a market cap of $ 727.76M, and a market domination of 0.06%. MANA’s price has dropped -1.68% in the previous 24 hours.
Decentraland reached its greatest price on November 25, 2021, when it traded at an all-time high of $ 5.85, and its lowest price was recorded on October 13, 2017, when it traded at an all-time low of $ 0.007796.
In fact, a boom period, or the bull driving the MANA pursuit, began in December 2020 when the asset increased to the Decentraland price of around $0.5. A similar pattern persisted for MANA until April 2021, when the price of MANA soared to a new high of $1.56. However, after reaching a new high, the MANA kept correcting down, and the price of Decentraland fell below $0.43.
Later, the MANA coins were marked to the end of October 2021, and then there was a significant increase that raised the price of Decentraland above $3.5. Following that, the currency’s trading behavior remained noticeably positive. Decentraland reached a new all-time high of $5.90 in November 2021. However, after reaching a new ATH, the MANA price had a large correction, which caused the price of Decentraland to drop from about $2 to where it is now, which is $0.4697.
Highlights:
According to our technical indicators, Decentraland’s 200-day SMA will fall during the next month and reach $ 0.469255 on August 26, 2023. The short-term 50-Day SMA for Decentraland is expected to reach $ 0.413205 by August 26, 2023.
The momentum oscillator Relative Strength Index (RSI) is a prominent indicator that indicates if a cryptocurrency is oversold (below 30) or overbought (over 70). The RSI is currently at 48.76, indicating that the MANA market is in a neutral state.
Decentraland has support levels of $ 0.379579, $ 0.374381, and the strongest at $ 0.366783 based on today’s traditional pivot point (P1) of $ 0.387177. Similarly, the resistance levels for Decentraland are $ 0.392375, $ 0.399973, and $ 0.405170.
Bollinger Bands can be used to detect periods of high or low volatility in the context of Decentraland (MANA) price prediction. For example, if the MANA price reaches the top range, it may suggest that the token is overbought and that a price reversal is imminent. If the price falls into the lower band, it may indicate that MANA is oversold, and a price increase may occur. Furthermore, a contraction in the breadth of the bands (i.e., the bands moving closer together) could indicate decreasing market volatility and the start of a new trend.
The minimum price of Decentraland will be $0.3106 based on the technical analysis of prices anticipated in 2023. The price of MANA might rise to a maximum of $0.416. The predicted average trade price is $0.526, roughly. ROI potential: 9.5%
Crypto experts predict that the average MANA rate will be $0.332 in July 2023 based on the price swings of Decentraland at the beginning of 2023. The projected lowest and maximum prices for it are $0.306 and $0.358, respectively. ROI potential: -5.8%
Mana Coin has experienced rapid growth in the cryptocurrency industry since its inception. In 2021, Mana Coin provided a significant return to its initial investors. Mana Coin has numerous real-world applications, bolstering its market position. According to our forecast, Mana Coin prices will continue to rise over the following five years, exceeding the $100 level by the end of 2025-26.
Aside from Decentraland Mana Coin price prediction, we recommend that our readers get as much information on cryptocurrency behavior as possible before investing in any cryptocurrency. Cryptocurrency values are affected by a variety of factors, and no one can predict whether they will rise or fall.
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