Decentraland is one of the most popular blockchain platforms that advocate for the virtual world. Decentraland has been a major contributor to the metaverse, a factor that has led to the MANA coin making incredible gains. MANA is also one of the few altcoins that have made double-digit gains in the past 24 hours.
MANA is trading at $1.04 at the time of writing after a 13.5% gain in 24 hours.
MANA Price Analysis
MANA’s volatility in the past month has increased, which has led to a wave of ups and downs. However, this volatility has not prevented MANA from creating new monthly highs. In the past 24 hours, MANA made a massive gain towards $1.10, but it was rejected shortly after and retreated to its current levels.
The slight slump from $1.10 could be gearing up the coin for another bull run because buying pressure is still high. If the upsurge holds, we could see MANA test the higher resistance level of $1.08 before testing $1.10 again. If the MANA rally continues over the week, the altcoin could be gearing up to retest its all-time high of $1.60.
On the other hand, we could see MANA slumping to lower levels. Market support is weak, and if buying pressure reduces, MANA could retest the lower support of $0.98. Selling pressure from short-term traders who bought during the rally could also push prices below $0.90.
Decentraland continues to be a gainer in the metaverse world. With major firms such as Microsoft and Facebook leaning towards the major inventions of the metaverse, Decentraland’s position on the blockchain space has become more solid. Decentraland was recently endorsed by Post for Rent, an influencer-marketing platform that has built its headquarters on the blockchain. The platform aims to use the virtual headquarters to hold live events, influencer campaigns and more.
Where to Buy MANA
If you want to buy MANA during the current rally, you can create a cryptocurrency exchange account on eToro. eToro is a renowned social copy trading platform that allows new traders to learn from market experts. eToro also offers access to a wide range of cryptocurrencies and trading pairs, making trading on the platform easy. The exchange’s trading fees and commissions are also highly competitive.
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