- Bullish MANA price prediction ranges from $1.33 to $4.12.
- MANA price might also reach $10 this 2021.
- MANA is an ERC-20 token built on the Ethereum blockchain.
This Decentraland Price Forecast for 2021 article is based on technical analysis alone. Below, you will see the key measures that we have taken into consideration in coming up with our MANA price analysis and prediction.
MANA price reached an all-time high price of $1.19 on March 14, 2021. Moreover, it also reached a 24-hour trading volume of over $886 million.
Nevertheless, the crypto market is moving sideways lately, and most cryptos are losing their previous gains. Is the scenario the same as the MANA price? We’ll find out shortly in this MANA price analysis 2021 article. But first, let’s have a look at what MANA is.
What Is MANA Token?
Decentraland (MANA) is a virtual reality platform based on the Ethereum blockchain. Moreover, it allows users to create, experience, and monetize content & applications.
Decentraland launched after a $24 million initial coin offering (ICO) that happened in 2017. In addition, the virtual world launched its closed beta in 2019, and also opened to the public in February 2020.
MANA is an ERC-20 token that has to be burnt to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a variety of wearables, avatars, names, and many more on the Decentraland marketplace.
Currently, the top crypto trading platforms for MANA are Binance, Huobi Global, OKEx, 1inch Exchange, and BitZ.
Do you think this market performance of MANA could make it a profitable cryptocurrency this year? Are you curious to find out? To learn more, let’s head to the MANA chart and find out if the price patterns will give us any clues as to how MANA price will move in 2021.
MANA Price Analysis 2021
Currently, MANA holds the 56th place on CoinGecko. But will the recent changes and developments in the blockchain help the digital currency’s price to reach higher? Let’s proceed to the chart analysis part of this MANA price prediction article.
Over the last month, as shown on the chart below, we can see an Ascending Scallop pattern. Usually, this is succeeded by an uptrend. However, the pattern can also shift into a downtrend. However, the pattern itself suggests a break further to the upside level. More so, this pattern took half a month to form.
As shown above, at the beginning of this period, MANA turned from a bearish trend to bullish. This shows a high trade volume in that period. The Relative Strength Index (RSI) is at 77, which means that MANA is in an overbought state and may trigger a price reversal at any given time.
Therefore, traders must trade wisely and resist being influenced by the market hype. Considering this, traders can be cautious and avoid losses due to the cryptocurrency market’s wild swings
Since the start of 2021, MANA’s price has seen many bullish moves which each next one higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, MANA has a competitive market so far in 2021. Moreover, some crypto experts predict March will be altcoin season.
MANA Price Prediction 2021
As shown below in this MANA price forecast chart, in a smaller time frame, MANA has shown a bullish uptrend.
The above Decentraland price forecast shows that MANA displayed a bullish uptrend. In ideal cases, this might even lead to a price breakout.
More so, in the short-to-mid term scenario for our 2021 MANA price prediction, MANA has to break past the Fib retracement level at $1.8. To do this, it has to establish more support at the Fib level at $1.59. If not, bears may gain the upper hand and drag MANA to their territory.
MANA has a great future ahead of it in 2021. With ongoing developments happening within the MANA ecosystem, as well as in the overall crypto market, we may see MANA reach new heights.
Moreover, our long-term 2021 MANA price prediction is bullish. In addition, MENA has a high possibility of surpassing $2.1 and can reach above $2.9 this year. However, that will happen only if it breaks past a few psychological barriers.
As shown above, MANA may even reach $4 if investors have decided that MANA is a good investment in 2021 along with mainstream cryptocurrencies like Bitcoin and Ethereum. Moreover, it has a chance to reach $10 in the latter parts of this year as well.
Decentraland (MANA) is a virtual reality platform based on the Ethereum blockchain. Moreover, MANA is an ERC-20 token.
Users can obtain MANA tokens by purchasing them from cryptocurrency exchanges such as Binance or Huobi Global.
MANA is a good investment in 2021. However, crypto traders need to take extra care when trading in cryptocurrencies, as they are extremely volatile.
As per the Bull Run goin on now, Its possible that MANA token will hit 10$ before end of 2021.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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