Investors should note that falling below the aforementioned foothold may spell trouble for the bulls, as a 36% drop may be on the radar for Decentraland price. However, an additional line of defense will appear at the 23.6% Fibonacci retracement level at $3.14, which intersects with the MRI’s support line. If the bullish outlook falters, Decentraland price will discover immediate support at the 38.2% Fibonacci retracement level at $3.53, then at the 21 four-hour SMA at $3.49. If selling pressure increases, MANA could slide further to find a line of defense at the lower boundary of the triangle at $3.19.

For the last 7 days, MANA has been in a good upward trend, thus increasing by 3.23%. Decentraland has shown very strong potential lately, and this could be a good opportunity to dig right in and invest. Another hurdle may emerge at the 50% retracement level at $3.85, intersecting with the resistance line given by the Momentum Reversal Indicator (MRI) and the 200 four-hour SMA. An additional obstacle may appear at the 61.8% Fibonacci retracement level at $4.17, which sits near the 100 four-hour SMA, then at the 78.6% Fibonacci retracement level at $4.63.

Decentraland (MANA) Price Chart for Wednesday, August, 9, 2023

They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss. The long/short what is poe crypto ratio is 0.94 with 48.63% longs and 51.37% shorts signifying that there is dominance of bears and a high position of sellers in the last 24 hours.

Decentraland is a metaverse built on the Ethereum blockchain. The project was established by the Decentraland Foundation back in 2015. So, you can see that this game has been on the market for a long time. The team held an ICO in 2017 and successfully raised about 90,000 ETH (which was about $26 million at that time). However, the virtual reality platform was opened to the public just in 2020. During the last month, the price of MANA has increased by 4.12%, adding a colossal average amount of $0.02 to its current value.

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Based on their predictions, the estimated average MANA price will be around $$2.88. It might drop to a minimum of $$2.80, but it still might reach $$3.25 throughout 2028. Crypto analysts have checked the price fluctuations of Decentraland in 2023 and in previous years, so the average MANA rate they predict might be around $$0.402 in October 2023. The views and opinions stated by the author, or any people named in this article, are for informational purposes only.

• Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the MANA closing price for the last 200 days.
• Decentraland is a metaverse built on the Ethereum blockchain.
• November 2023 might also witness an increase in the Decentraland value to $$0.464.
• The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
• LinkedIn CEO and co-founder Reid Hoffman recently told CNBC that there would be massive investment and development in the metaverse space over the coming years.

This sudden growth means that the coin can become a solid asset now if it continues to grow. Post the US NFP data release for July, the asset sustained above the 29,000 level, showing likelihood of price recovery in August. Decentraland price has been consolidating after its massive run toward its all-time high at $5.89 on November 25. MANA appears to be ready to escape its recent downtrend as it nears a critical hurdle. Slicing above the crucial line of resistance could unleash 36% gains for the token.

Decentraland Price Prediction: MANA Price Breaks Upward Channel

The price has slipped 93.37% from the all-time high of $5.90. Crypto experts have analyzed Decentraland prices in 2023, so they are ready to provide their estimated trading average for December 2023 — $$0.440. The lowest and peak MANA rates might be $$0.410 and $$0.470. According to the latest data gathered, the current price of Decentraland is $$0.37, and MANA is presently ranked No. 56 in the entire crypto ecosystem.

Currently, Decentraland is trading above the SMA 50 trendline, which is a bullish signal. According to Gov Capital, MANA is in its uptrend because GameFi is widespread. By the end of this year, the asset is predicted to reach a point of about $6. The first resistance Decentraland price may face is at the 50 four-hour Simple Moving Average (SMA) at $3.63, coinciding with the topside trend line of the prevailing chart pattern. Breaking above this level could put the bullish target of a 36% ascent on the radar, toward $5.00.

Decentraland moving averages & oscillators

Based on the price fluctuations of Decentraland at the beginning of 2023, crypto experts expect the average MANA rate of $$0.393 in August 2023. Its minimum and maximum prices can be expected at $$0.368 and at $$0.417, respectively. Cryptocurrency analysts are ready to announce their estimations of the Decentraland’s price. The year 2032 will be determined by the maximum MANA price of $$14.59.

In the past 24 hours, the crypto has increased by $0.0044 in its current value. While it has had plenty of room to grow in its first three years, 2021 has also been the kindest to Decentraland. Currently, MANA bulls are reflecting on the network’s growth over the last 12 months and the figures are quite impressive. On November 25, 2021, MANA renewed its all-time highest price at $5.9 point.

Decentraland Prediction Table

Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer. Decentraland produces its own wallet software that is available for download on its website, which allows you to store Decentraland on your computer. The daily active addresses count peaked on 23 June 2023, reaching 33,614, since then, there has been a sharp decline to 430, which is the current count. In the past 7 days, the daily active addresses are down by 67.74%.

It is estimated that MANA will be traded between $$3.91 and $$4.80 in 2029. Its average cost is expected at around $$4.06 during the year. This year, we see the MANA cryptocurrency becoming a top gainer week after week. After all, Decentraland is one of the stars of the Play-to-Earn trend, which became popular in 2021 on the cryptocurrency market. How is the project developing now, and what can we expect from the price of the in-game MANA token? The 24-hour trading volume has also increased by 6.74% while the market capitalization has also increased by 2.41% to $740,585,508.

MANA price is expected to rise by 11.96% in the next 5 days according to our Decentraland price prediction

SAND’s technical indicators show that the coin is one of the best performers in the cryptocurrency market at the market. SAND is trading above its 200-day moving average of $1.76, while the MACD line is above the neutral zone. The RSI of 71 shows that SAND is currently heading into the oversold region. Analysts at WalletInvestor predict that SAND’s price could double in 2022 and reach the $13 mark before the end of next year. The experts in the field of cryptocurrency have analyzed the prices of Decentraland and their fluctuations during the previous years.

Decentraland price has printed a symmetrical triangle pattern on the 4-hour chart, appearing to have shown investors few visible clues as to directional intentions. SAND and MANA are two of the leading metaverse projects with a shared market cap of under $30 billion. If the metaverse market grows at the projected rate, then MANA and SAND could record further growth in the coming months and years. The metaverse sector is in its early days, and many experts believe that 2022 holds even higher potential for projects in this area. LinkedIn CEO and co-founder Reid Hoffman recently told CNBC that there would be massive investment and development in the metaverse space over the coming years.