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  • The MANA price suffers a 20% drop to the $0.80 level after having reached a bi-monthly high of $1.04 only a day ago.
  • Decentraland affected by the broader crypto market crash like most coins
  • Drop in MANA price appears to be only temporary as coin still around 60% up from July 20 swing low.

The MANA price is currently in bearish territory having suffered a considerable drop of around 20% to the $0.80 level after yesterday’s brutal market crash. MANA had been setting new bi-monthly highs over the past days but the ascent was cut short in its tracks like the vast majority of cryptos with almost $400 billion wiped off from the market in a few hours.

There continues to be considerable instability in the cryptocurrency market at the moment with many coins suffering double digit drops and MANA is no exception. Although the Decentraland price has ascended considerably from the swing low registered on July 20, the ascent was stopped in its tracks. The outlook now all depends on whether bears once again take control of the market which had been looking quite bullish over the past few days.

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Short Term Prediction For MANA Price: More Descent Before A Reversal

MANA price

It appears that the MATIC price will continue to suffer a small descent over the next days before a reversal. The market appears pretty bearish and the Bitcoin shenanigans concocted by El Salvador surely will have some affect on investor confidence.

If a quick bullish reversal takes place, the MANA price will probably rise to the $0.90 level where it should find resistance. However, if that is quickly broken down, then Decentraland will probably ascend to the $1 level quite fast and practically reverse all losses of the past days. However, with the current bearish situation this thesis looks highly unlikely.

If a bearish thesis were to come into play as is probably, the MANA price would suffer a further drop to the $0.75 level before another sell off would probably take it down to the $0.70 mark. That would be a considerable 35% decline from the high of $1.03 only registered a couple of days ago.

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Long Term Price Prediction For Decentraland: Still Bullish Although Pitfalls Remain

AS with the vast majority of cryptos, the MANA price has experienced a brutal double-digit descent over the past 24 hours. This is nothing new in the cryptocurrency markets but the bullish momentum that had been building over the past few days seems to have evaporated.

On a long-term perspective, the prospects for MANA still seem quite bullish overall. Although there needs to be much more positive sentiment from the markets for institutional investors to continue piling into Decentraland, the long-term outlook for this coin remains quite rosy.

Where to Buy MANA

If you want to purchase Decentraland, you can do so on the following exchanges:
eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
Binance
The other platform where you can buy MANA is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.

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

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