Decentraland (MANA) has been making remarkable gains, just like most cryptocurrencies in the charts. MANA is known for dominating the NFT market through virtual lands and properties, increasing its popularity.
In the past 24 hours, MANA has gained 16% and is trading at $0.717 on major exchanges at the time of writing.
MANA Price Analysis
MANA had some slight gains in the past days after pushing past $0.50. The upswing can be attributed to the ongoing market support where many coins are currently trading in the green zone. If the uptrend progresses to higher levels, we might see MANA clinch higher levels of $0.80 and maybe $1 in the long term.
While going to high levels will be suitable for the coin, most short-term traders may be stepping in to leverage the upswing, with hopes that prices will shot higher to above $1.60, as reported in May. Hence, overbuying without strong support might exhaust the upswing causing a price correction.
Pushing lower is possible for Decentraland, especially if bitcoin and the broader market starts declining. Hence, agile traders who want to avoid losses need to evaluate the performance of other tokens as well. A retreat might create a new level at $0.50, and pushing lower might happen, establishing even stronger bears.
One of the reasons why Decentraland is famous is because of selling virtual lands and properties. Just recently, the most expensive property sold on Decentraland for a massive amount of almost $1 million. This shows that virtual lands and buildings are becoming highly popular.
The crypto community is also eagerly waiting for the Ethereum Music Festival that will be hosted on Decentraland. The festival dubbed ‘To The Moon’ will commence on July 11, and at this time, we might witness a growing interest in MANA.
NFTs are expected to continue rising in value, and with Decentraland taking the lead in this area, MANA makes a good investment.
Where to Buy MANA
For those who want to buy MANA tokens, the best place to do so is from a reliable and secure cryptocurrency exchange such as eToro. eToro is among the few crypto exchanges that allow copy trading for beginner traders. Besides, eToro’s trading fees are very competitive.
Looking to buy or trade Decentraland (MANA) now? Invest at eToro!
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