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- Decentraland was currently at $0.7441 with a decrease of 6.20% during the intraday trading session.
- The pair of MANA/BTC was around 0.00003206 BTC with a decrease of 5.10%.
- The current price of Decentraland is above 20, 50,100-, and 200 days EMA.
Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications. Users buy plots of land in this virtual environment that they can later explore, develop, and monetize. A $24 million initial coin offering (ICO) that was held in 2017 led to the creation of Decentraland. The closed beta for the virtual world began in 2019 and it became accessible to the general public in February 2020. MANA and LAND are the two tokens used by Decentraland. Decentraland is designed for content producers, companies, and people who are looking for a fresh artistic outlet, commercial opportunity, or entertainment source.
The current price of Kava was around $0.9848 with a decrease of 4.38% during the intraday trading session. The 24-hour low of ETC was $0.9757 and the 24-hour high of ETC was $1.04. The pair of MANA/BTC was around 0.00003206 BTC. It looks like the start of 2023 was good for Decentraland like other cryptocurrencies. Decentraland has been constantly rising since the start of 2023 after making its 52-week low of $0.279. 2022 was a bad year for Decentaland as it was constantly declining throughout the whole year making its 52-week low just before the start of 2023. Decentraland has broken its major resistance of $0.734 and as we can see that 20-day EMA has shown positive crossover with 50, 100, and 200-day EMA which indicates that buyers are coming in the majority and have taken over the market. If buyers push themselves then Decentralend may enter its supply zone. It looks like this new year was really good for the investors.
The volume of the coin has increased by 13.51% in the last 24 hours. The increasing volume indicates that the number of buyers has increased which may bring support to MANA in reaching its supply zone. The coin’s price is heading above the 20, 50, 100, and 200-Daily Moving averages.
The technical analysis of Decentraland:
The technical indicators show that the RSI of the Decentraland is showing a negative crossover in the overbought zone which indicates that sellers are coming in the majority and taking over the market. The current RSI is around 59.62 which is below the average RSI of 68.37.
The MACD and MACD signal are intersecting but not giving a definitive crossover. But the probability is that the crossover will be negative. Investors are eagerly waiting for any movement over the daily price chart.
Conclusion
Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications. The current price of Kava was around $0.9848 with a decrease of 4.38% during the intraday trading session. The 24-hour low of ETC was $0.9757 and the 24-hour high of ETC was $1.04. The pair of MANA/BTC was around 0.00003206 BTC. The volume of the coin has increased by 13.51% in the last 24 hours. The technical indicators show that the RSI of the Decentraland is showing a negative crossover in the overbought zone and The MACD and MACD signals are intersecting but not giving a definitive crossover as per the technical indicators.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes 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.
