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  • MANA price makes a beeline for the $80 level
  • Decentraland now up by almost 9% over the past 24 hours
  • More buyers have entered the market as SEC Chair Gensler’s speech shrugged off by crypto investors

The MANA price seems to be moving forward fairly consistently after having had a rather stagnant period. Decentraland gained no less than 9% over the past 24 hours to come in at the $0.75 mark. The crypto market seems to have shrugged off the Gensler speech on more crypto regulation with many coins also on the up.

It seems that the MANA price is now in a bullish cycle and should continue its ascending path over the next few days. Unless bearish pressure comes into the equation, the Decentraland price should continue to rise considerably after having retraced from its 28 July high of $0.80.

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Short Term Prediction For MANA price: Recovery well underway

MANA price

The MANA price suffered a sharp fall on July 28 after having reached the $0.80 level which was a 40% rise from its July 20 low. Decentraland descended to the $0.72 level which was a 10% decrease but is now on the up again.

A bullish forecast for the MANA price would see it rise to the $0.80 mark from where it should find another springboard to attack the $1 mark. It should encounter considerable resistance at the $0.85 mark which is a level that was last seen back in June although buying pressure is once again very strong.

Alternatively, a bearish thesis should invalidate this prediction for the MANA price. If that were to occur, Decentraland would sink below the $0.70 level where a sell off could push the price down to the $0.62 level where support may be found. However, that scenario does look slightly unlikely, at least for the time being.

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Long Term Price Prediction For Decentraland: Spectre of Regulation Still Holds But Not All Is Dark

Whilst the Gary Gensler speech may have created some short-term jitters for the crypto market, this should not just be seen in a negative light. On a long-term basis, the crypto market would definitely benefit from better regulation as some Wild West cowboys still remain.

It remains to be seen what the long-term effects may be on the MANA price. Predictions have it reaching the $1 mark by the end of September and the $1.50 mark by the end of the year. With the crypto market appearing to have turned the corner, it looks rather positive for MANA (Decentraland).

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