In the past week, MANA has turned bearish, and at press time, the altcoin continued to show similar trading patterns. On higher time frames, the coin was negative, with selling strength remaining considerably higher than buying pressure.

The technical outlook also sided with the bears, as the price still showed that sellers were in control. Demand for MANA remained low, displaying a decline in accumulation.

Although in the previous-to-last week, MANA gained significant strength and dragged the price from the $0.50 zone to $0.67, it quickly experienced a retracement met with selling pressure that intensified bearish price action.

The price could continue to move south if the coin failed to remain above its crucial support level. Additionally, Bitcoin was trading above the $27,000 mark with an imminent price correction. In case of dips on the king coin’s chart, MANA is also likely to decrease in value, so buyers need to be careful. The coin’s market capitalization has fallen, indicating that selling strength was building up on the daily chart.

 At the time of writing, Decentraland’s (MANA) price was $0.56, but it has since fallen back to the $0.50 price zone. After dropping below the crucial support zone of $0.62 to $0.60, MANA continued to decline.

Currently, the local support level for MANA is at $0.51, and if the broader market keeps moving downward, MANA could fall to $0.47.

The overhead resistance for the coin is at $0.58, and if it surpasses this level, it could reach $0.60. The recent decrease in MANA trading volume suggests an increase in selling pressure.

The coin buyers attempted to recover, but the bears continued to pull the altcoin down at the time of writing. The Relative Strength Index was below the half-line, signifying a rise in selling strength for the coin.

#mana #decentralized #koinmilyoner #Binance #BNB

Metaverse Fashion Week hosted by Decentraland started on March 28 and will proceed to March 31.

The event brings fashion shows, parties, shopping, panel talks, and amazing experiences to the metaverse.

Decentraland price could soar almost 20% to $0.673.

Decentraland price (MANA) has identified critical support on day one of the Metaverse Fashion Week. The token is trading horizontally on the four-hour timeframe as bulls push to break above a descending trendline. If the metaverse token escapes this bearish technical formation, MANA could rally northward and record significant gains for investors.

With the big Metaverse Fashion Week (MVFW23) starting on March 28 and ending on March 31, big expectations are that MANA will come on the front foot, with Decentraland price action exploding to the upside. The analysis section of this article will reveal what to expect from the metaverse token.

Decentraland’s Metaverse Fashion Week 2023

This year’s Metaverse Fashion Week marks Decentraland’s second annual event, bringing forth a four-day itinerary filled with fashion shows, parties, shopping, panel talks, and amazing experiences.

In this year’s MVFW, Decentraland will focus on the newly constructed Neo Plaza, a welcome area established to showcase the next generation of fashion designers, Neo Designers. This conforms to the theme of 2023’s MVFW – Future Heritage.

Besides the Neo Plaza, other focus areas will include Luxury District, the new Organic Origins, Dragon City, and other areas throughout Genesis City. The MVFW23 will happen across Web3 with equally exciting OVR and Spatial metaverses events.

Decentraland price riding on the hype around Metaverse Fashion Week

Decentraland price has sowed a hopeful seed for MANA holders after the token identified a critical support level at $0.564, where it is currently trading. If buying momentum increases, MANA could shatter the immediate roadblock at $0.574 presented by a downtrend line traced from March 18 highs. A decisive flip of this barricade into a support level would support the case for a breakout.

Beyond the downtrend line, Decentraland price could rise further, tagging the resistance confluence between the horizontal line and the 100-day Exponential Moving Average (EMA) at $0.602. Slightly higher, MANA could reach the 50-day EMA at $0.608.

In highly bullish cases, Decentraland price could reach the $0.673 resistance level in the next few days, denoting a 19.14% increase from the current price. The 200-day EMA at $0.678 would be a great hit, presumably influenced by an influx of sidelined investors.

Santiment data supports the bullish case for MANA

A look at network volume can help provide a better picture of what’s brewing for the MANA token.

The chart shows that the transaction volume is up around 40% between March 9 and March 28, increasing from 453.38 million to 634.73 million, respectively. The notable increase in transaction volume points to investor interest in the metaverse token in the days leading to the MVFW23.

Still, if MANA holders succumb to broader market FUD and flee the market, Decentraland price could plummet, first losing the immediate support at $0.564. Escalating selling pressure could plunge the metaverse token further toward the $0.546 support level, and if push comes to shove, the token could descend to the March 10-11 lows around the $0.495 support floor. 

#crypto2023 #dyor #mana #decentralized #koinmilyoner

Decentraland (MANA) has been one of the most talked-about cryptocurrencies in recent years, thanks to its unique concept of a blockchain-based virtual world. MANA is the native currency of Decentraland, and it is used to purchase virtual land, digital assets, and other in-world items. Since its launch in 2017, MANA has seen significant fluctuations in its price, with periods of extreme volatility followed by periods of relative stability.

To predict the potential maximum value of MANA price in 2025, it's important to look at its historical price performance. In 2017, MANA started trading at around $0.01 per token and saw a steady increase in price throughout the year, reaching a peak of $0.24 in November. However, the cryptocurrency market experienced a major correction in early 2018, and MANA's price dropped to around $0.05.

From there, MANA entered a period of relative stability, trading between $0.05 and $0.10 throughout most of 2018 and 2019. However, in early 2020, the cryptocurrency market began to pick up steam again, and MANA saw a significant increase in price. In August 2020, MANA hit its all-time high of $0.28, driven by increased demand for virtual real estate and digital assets.

Since then, MANA's price has remained relatively stable, with some minor fluctuations due to market conditions and Decentraland's own technological developments. As of April 2021, MANA is trading at around $0.80, representing a significant increase from its early 2020 levels but still well below its all-time high.

To predict the potential maximum value of MANA price in 2025, it's important to consider the trends and factors that have influenced its price in the past. One key factor is the adoption and use of the Decentraland platform. If more people start using Decentraland for virtual real estate and other transactions, demand for MANA will increase, driving up its price.

Another factor is the overall growth and adoption of the cryptocurrency market. As more people become interested in cryptocurrency and blockchain technology, demand for MANA could increase, further driving up its price.

However, it's important to note that cryptocurrency prices are notoriously difficult to predict. There are many unpredictable factors that can influence the price of MANA and other cryptocurrencies, such as regulatory changes, technological developments, and market sentiment. It's also worth noting that Decentraland is a relatively new and unproven platform, so there is still a significant amount of uncertainty around its future prospects.

In conclusion, the potential maximum value of MANA price in 2025 is difficult to predict with certainty. However, based on its historical price performance and current market conditions, it's possible that MANA could reach or exceed its all-time high of $0.28 in the coming years. This would require continued growth and adoption of the Decentraland platform, as well as overall growth and adoption of the cryptocurrency market as a whole.

#mana #decentralandturns3 #DeFi #crypto2023 #dyor

Decentraland price sees price action underpinned at the 200-day SMA.

MANA to materialize a breakout trade as the short-term trend line is set to be broken.

Expect a bullish start of the week with MANA projected around $0.66.

Decentraland (MANA) price is currently on the backfoot slightly as the ASIA PAC session started off with a bullish undertone. Nothing surprising just yet as MANA is currently residing at the 200-day Simple Moving Average (SMA), which has been providing support on plenty of previous occasions. With the bullish undertone being handed over in the European trading session, expect to see a breakout trade that could see MANA shooting higher to $0.66 by Tuesday or Wednesday if this undertone persists.

Decentraland price has bulls gearing up for a 13% upswing

Decentraland price had been in steep decline ever since bulls tried to break above the 55-day SMA two weekends ago after Credit Suisse got pushed into a merger. In a bearish triangle formation with the 200-day SMA as the base, plenty of attacks have been launched – each unsuccessful. Seeing the bullish tone this morning in global markets with equities and risk assets on the front foot, expect to see that filter through MANA price action with a bit of delay.

MANA thus does not complete the bearish triangle and rather goes the other way. Once the orange ascending trend line is broken again, expect this time to see some follow-through. By Tuesday or Wednesday, the rally could extend toward $0.66 and meet the 55-day SMA as the price cap for this week.

The bearish triangle could well be fulfilling its destiny and first needs to tread below the 200-day SMA in order to find enough buyers who will push price action back up. The best candidate for that is at the monthly S1 support level near $0.55. That means still another 5% loss to be added.

#mana #decentralized #GPT-4 #Launchpad #Fed