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. 

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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.

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