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- Investors expect MANA to reach $5 by 2025.
- Price action relates to future Metaverse developments.
Decentraland is a Virtual Reality platform that allows users to create, experience and monetize content and applications. This platform is very popular among the metaverse community, a developing notion that is predicted to go mainstream in the coming years.
Metaverse maestros predict the concept to develop further and bring facilities to support Web3 functioning. With this, VR and AR-featured projects will certainly gain success. Decentraland has already taken the lead and hosted many events to highlight this feature. The prospects of future investment in MANA are very charming and promising. In the past, many companies like JP Morgan and Samsung have already partnered with Decentraland and opened their virtual stores that facilitate the intra-system attributes. The future could offer value additions if bigger players like Nvidia plan to shake hands with the metaverse platform and support its success.
Price propulsion by 2025
Decentraland’s MANA has tested several support zones over the past few weeks. In mid-2022, MANA fell drastically, motivating many investors to redeem themselves from the market. The volume for the passing year has been cold and less volatile, despite the turbulent market conditions. The MACD and RSI suggest a neutral scenario and slightly bullish above the $0.5 support zone.
The bears placed selling orders at swing highs such as $2.20 and $1.70 but also bought at levels near $1.05. Sellers were seen overpowering the buyers and resisting any possible price rise. A positive image can be formed if buyers break the 20-EMA, and a strong bull momentum may be established if prices breach 50-EMA. The prices have been consolidating for over half a year, suggesting a price rally in the coming year. The coming year can witness bulls regaining dominance and uplifting the price of MANA.
How much return will you get if you invest $100 in MANA in 2023?
Keeping in mind the potential metaverse projects hold, if you think of investing $100 in MANA, you will hold around 312 MANA tokens in your wallet. This value is as per the current trading price of $0.32. If prices reach $5, pertaining to the huge bullish momentum, the investment of $100, which gave 312 MANA, would be worth $1560, a return of over 1400%.
The initial quarter can offer hints of the price reaching the desired target unless anything dramatic occurs. The buyers may try to accumulate MANA to benefit from the predicted rise and appreciate its utility.
Conclusion
Inventors can trust the $0.5 support zone to buy MANA. Analytical indicators like RSI and MACD suggest bullish outlook, with steady escalations and continuous testing of new resistance zones.
Technical levels
Support level: $0.5
Resistance levels: $3 and $5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
