- The MANA price bucks the general crypto trend with a 3% increase
- Decentraland has risen by around 35% since the beginning of the month
- General uncertainty in the crypto market leads to slightly bearish sentiment but long-term prospects still good for MANA
Although the crypto market seems to be in slightly bearish mode over the past 24 hours, the MANA price seems to have bucked the trend with a 3% increase. Decentraland is now flirting with the psychologically significant $1 level and appears to have some momentum.
With the spectre of regulation continually on the horizon, the cryptocurrency market appears to be passing through a state of uncertainty although the recent pullbacks have been minimal at worst. The MANA price seems to have quite a bit of staying power as it has been on an impressive rise with a 35% rise since 1st August.
If you haven’t yet bought some MANA then you should take a look at this How To Buy Cryptocurrency Beginner’s Guide.
Short Term Prediction For MANA Price: Trading Sideways With Small Moves Either Way
As the larger cryptocurrencies such as Bitcoin and Ethereum hover within a tight trading range, other altcoins seem to be waiting in the wings to determine their path. MANA is no exception as it continues on a slight ascending channel with some pullbacks expected short term.
Having reached the $0.91 mark on 21 August, a descent of around 5% was experienced a day later. The MANA price recovered with an upward trajectory to reach the $0.96 level on over the past 24 hours. However, a slightly bearish mode seems to have entered the market with rejection at the $0.96 level.
If a bullish mode prevails, the MANA price would be expected to make an attempt for the $1 level where it would encounter considerable resistance. If that price point is reached, then Decentraland would attempt to tag the $1.10 level which signifies an almost 100% rise from the July 20 low. However, such large movement looks unlikely at this stage.
A bearish thesis is more likely to play out at this point. If that happens, the MANA price would sink below the $0.90 level and settle at around the $0.85 mark. Strong support is expected at this level although another sell off could continue to push the price down to the $0.80 point of critical support.
If you haven’t yet started trading cryptocurrency, then have a look at these Top Cryptocurrency Brokers.
Long Term Prediction For Decentraland: More Bullish Momentum Expected After Recent Pause
Although the short-term prediction for the MANA price remains slightly in flux, long term forecasts are bullish. As the much-awaited bull run towards the end of the year begins, Decentraland should at least tag the $1.50 level which would be an all time high last reached in May.
The general situation in the cryptocurrency market is also a considerable factor in all this argument. With the NFT market growing considerably, MANA is well poised to continue growing on a long term basis.
Where to Buy MANA
If you want to purchase MANA, 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 Decentraland 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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Gerald Fenech
