Home MANA Price forecast: Paring Off Recent Gains Or Accumulating?
Crypto News

MANA Price forecast: Paring Off Recent Gains Or Accumulating?

After a relatively positive week, the MANA price has taken a bit of a tumble over the past 24 hours. Decentraland has been growing exponentially with huge interest over its project vision but unfortunately, the price has crashed considerably. Since its all-time high of $1.54 in early May, the MANA price is now down to the $0.68 level or a decline of over 60%. However recent gains have shown MANA to be resilient with a recovery of almost 45% from its June 22 low.

The MANA (Decentraland) price is currently at the $0.68 mark. This represents a decline of around 10% over the past 24 hours when the price was at the $0.76 mark. It appears that bearish pressure has once again affected the MANA price after bulls were attempting to crack the $0.80 level. If you haven’t bought any MANA yet, reading this How To Buy Cryptocurrency Beginner’s Guide would be a useful start.

MANA price Short Term Prediction: Back Over The $0.70 Mark?

The MANA price seemed to be recovering substantially fast after its crash in mid-May. After reaching a low of $0.43 on 22 June, the price shot up to the $0.76 level on 10 July, a gain of over 40% over an 18-day period. However, it has now retreated slightly from that high and is trading in the $0.65-$0.70 range.

The next move logically for the MANA price would be to consolidate support at the $0.70 level and begin another leg up to the $0.80 mark where it would again begin to challenge the $1 level. The last time the $1 level was reached was on 18 May when the MANA price was $1.18. A swift descent from that level then occurred and Decentraland declined heavily ever since. If you’re looking to trade some cryptocurrency, take a look at some of these Best CryptoCurrency Brokers.

A bearish situation would invalidate the bulls charge for $1 however. If the $0.65 level does not hold, then the price could descend to the next level of support at $0.55 and then crash to below the $0.50 mark basically leaving it at the territory it was in late June. That situation does appear to be rather remote due to MANA’s strong support at the $0.55 mark. Buyers are also in the market for Decentraland.

Decentraland Long Term Forecast: A return to $1 Before End Of Year

Although the MANA price has taken a battering of late, several predictions are still bullish for the coin. Digital Coin has the price at $0.90 by the end of the year but a move in crypto market sentiment could push the price even higher. All in all the indicators for MANA (Decentraland) continue to be positive.

Looking to buy or trade MANA now? Invest at eToro!

Capital at risk

Gerald Fenech

Gerald Fenech

Freelance journalist and writer with over ten years experience in forex and fintech writing. Specializes in crypto and blockchain