Decentraland Price Prediction – Will MANA Price Hit $8 Soon?

  • Bullish MANA price prediction ranges from $3.12 to $5.26.
  • MANA price might also reach $8 soon.
  • MANA bearish market price prediction for 2022 is $0.37.

This Decentraland (MANA) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our MANA price analysis and prediction.

Decentraland (MANA) is one of the most active cryptocurrencies that took the crypto world by storm this year. To be specific, the crypto was able to achieve an all-time-high price of $5.90 on November 25th, 2021.

Among the cryptocurrencies that are rallying this year, MANA is perhaps one of the most surprising for some. It is not directly related to Bitcoin, nor is it the most hyped cryptocurrency today. But for those that are aware, MANA has been around since 2019. Investors in MANA received a return on investment (ROI) of 1310% in the past year, due to the high interest in metaverse tokens.

In this Decentraland price analysis and price prediction, we take a look at the performance of MANA if it will reach $10. But before that, let us learn more about what Decentraland (MANA) is and its current position in the crypto market.

What Is Decentraland (MANA)?

Decentraland (MANA) is a virtual reality platform based on the Ethereum blockchain. Moreover, it allows users to create, experience, and monetize content & applications. Decentraland launched after a $24 million initial coin offering (ICO) that happened in 2017. In addition, the virtual world launched its closed beta in 2019 and also opened to the public in February 2020. It is the first-ever metaverse token to conduct a fashion week and virtual wedding.

MANA is an ERC-20 token that has to be burnt to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a variety of wearables, avatars, names, and many more on the Decentraland marketplace.

Do you think this market performance of MANA could make it a profitable cryptocurrency this year? Are you curious to find out? To learn more, let’s head to the MANA chart and find out if the price patterns will give us any clues as to how MANA  price will move in 2022.

Decentraland (MANA) Current Market Status

According to CoinMarketCap, MANA trades at $3.33 with a 24-hour trading volume of $1,266,284,674, as of the time of writing this MANA price analysis. The price of MANA has increased by 2.01% in the last 24 hours.

Furthermore, MANA has a current circulating supply of 1.83B MANA. Currently, the top cryptocurrency exchanges for MANA are Binance, OKEx, Upbit, FTX, Gate.io, Bithumb, Bitfinex, Kraken, Bittrex, and CoinTiger Exchange.

Now, let’s proceed to the next part of this MANA technical analysis for 2022.

Decentraland (MANA) Price Analysis

Currently, MANA holds 30th place on CoinMarketCap. But will the recent changes and developments in the blockchain help the cryptocurrency’s price to reach higher? Let’s proceed to the chart analysis part of this MANA price prediction article.

MANA/USDT 1Day Chart Showing Keltner Channel Indicator MANA/USDT 1Day Chart Showing Keltner Channel Indicator MANA/USDT 1Day Chart Showing Keltner Channel Indicator (Source: Tradingview)

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for Decentraland (MANA), it could be seen that the present uptrend could continue since the last candlestick is not touching the bottom curve in the Keltner Channel chart above. This shows that the present increase in the price of MANA might be sustained for some days before any reversal would be expected since it has passed the top Keltner Channel curve and showing a bearish candlestick.

MANA/USDT 1Day Chart Showing Relative Strength IndexMANA/USDT 1Day Chart Showing Relative Strength IndexMANA/USDT 1Day Chart Showing Relative Strength Index (Source: Tradingview)

The Relative Strength Index (RSI) is 63.59, which means that Decentraland (MANA) is in showing a strong trend since it is between 50 and 70. The curve is upwards which shows that the present bullish run of MANA could continue for some time. However, traders should be mindful since the trend of the RSI is presently downward towards 50.

MANA/USDT 1Day Chart Showing 90-MA and 30-MA MANA/USDT 1Day Chart Showing 90-MA and 30-MA MANA/USDT 1Day Chart Showing 90-MA and 30-MA (Source: Tradingview)

From the 90 days and 30 days moving averages for Decentraland (MANA), it could be seen that MANA would go bullish in the long-term since the 90-day moving average is above the 30-day moving averages. Hence, long-term investors could recover some part of their investments that had been lost in recent weeks due to crypto winter.

Decentraland (MANA) Price Prediction

As shown below in this MANA price forecast chart, in a smaller time frame, MANA has shown a bullish uptrend. However, the price of MANA has increased by 12.7% in the past 30 days. If there is a reversal, the price of MANA could plummet to $3.1197 at support1 and even drop lower to $0.3697 at support5, a bearish signal.

The Decentraland (MANA) is one of the most active crypto this year in terms of technology development. Do you think this is enough to make MANA a profitable token to invest in 2022? Let’s head to the chart in this MANA price prediction to check it out.

MANA/USDT 1Day Chart Showing the Resistance and Support LevelsMANA/USDT 1Day Chart Showing the Resistance and Support LevelsMANA/USDT 1Day Chart Showing the Resistance and Support Levels (Source: Tradingview)

If this bullish trend continues, MANA might be able to break its $3.9860 resistance level. It could even go further beyond $10 before the year ends and is likely to reach $5.2647 in 2022, a bullish signal if the market continues to favor crypto.

However, if the market turns against the crypto, MANA could experience a price decline, an event in favor of the bears. This bearish event could trigger a price rollback below $3.1197 at support1 and could even fall deeper to $0.3697 at support5. In this case, the crypto must find a way to regain its composure and recover back to its bullish position. Otherwise, the bears might turn the support level to the new resistance level, an event not favorable to investors.

Decentraland Price Prediction 2022

If this bullish trend continues, MANA will reach $5.2447 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $3.98. Then this rise will slow down, but no major falls are expected. With upcoming partnerships, and developments reaching $8 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Decentraland Price Prediction 2023

The price of MANA can move even great heights, however reaching $30. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency MANA breaks past the psychological resistance level.

Decentraland Price Prediction 2024

As per the latest upgrades, developments, MANA price prediction, and new project forecasts of the platform. Moreover, this might boost the price of MANA in the crypto market, and it will be the best investment as the price can spike and reach around $50.

Decentraland Price Prediction 2025

In the next four years, MANA prices could race up to $100. However, reaching this level could not be so difficult for MANA as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that MANA has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Decentraland Price Prediction 2026

With a Relative Strength Index (RSI) above 60 by the end of 2025, it is possible that MANA might reach $150 by the end of 2026.

Conclusion

MANA has a great future ahead of it in 2022. With ongoing developments happening within the MANA ecosystem, as well as in the overall crypto market, we may see MANA reach new heights.

Moreover, our long-term 2022 MANA price prediction is bullish. In addition, MANA has a high possibility of surpassing $3.1197 and can reach above $5.2647 this year. However, that will happen only if it breaks past a few psychological barriers.

FAQ

What is MANA?

Decentraland is a virtual reality platform based on the Ethereum blockchain. It was launched after a $24 million initial coin offering (ICO) that happened in 2017. MANA is its native cryptocurrency.

How to Buy MANA Tokens?

Like other digital assets in the crypto world, MANA can be traded on many exchanges. Users can obtain MANA tokens by purchasing them from cryptocurrency exchanges such as Binance or Huobi Global.

Is MANA worth buying?

MANA is a good investment in 2022. However, crypto traders need to take extra care when trading in cryptocurrencies, as they are extremely volatile.

Is MANA coin a good investment?

MANA is one of the active digital assets in the crypto market. In addition, MANA is now one of the famous crypto platforms that also creates NFT’s.

What will be the Decentraland price by 2022?

Decentraland (MANA) price is expected to reach $5.2647 by 2022.

What will be the Decentraland price by 2023?

Decentraland (MANA) price is expected to reach $30 by 2023.

What will be the Decentraland price by 2024?

Decentraland (MANA) price is expected to reach $50 by 2024.

What will be the Decentraland price by 2025?

Decentraland (MANA) price is expected to reach $100 by 2025.

What will be the Decentraland price by 2026?

Decentraland (MANA) price is expected to reach $150 by 2026.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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