Decentralized(MANA) coin analysis and Prediction

Decentraland has developed a brand-new digital marketplace where users may trade artifacts, play games, and mingle with other users. This platform enables users to participate in a shared virtual environment built on Ethereum. Customers may buy their environments, markets, and applications here.

There are three Decentraland tokens, and each one plays a distinct part in the economy of that place. The three tokens are: Estate, Mana, and Land. Decentraland is not governed by a centralized organization like other virtual worlds are. Users can construct DAOs (decentralized autonomous organizations) on the Ethereum blockchain and its rinke by test network using the software Argon. Through the Argon-created DAO, MANA, LAND, and Estate Holders control Decentraland.

There are 2 distinct decentralized tokens available:

• Token LAND To purchase a land plot in Decentraland, you must have the LAND token. The MANA tokens may be used to purchase unclaimed LAND at a cost of 1000 MANA per LAND.
• Token MANA The MANA coin fulfills the duties of a governance token and is an ERC20 token.

Price

The most recent information available indicates that Decentraland is now trading at $0.38 and that MANA is currently rated No. 58 overall in the crypto ecosystem. Decentraland’s market capitalization is 1,893,095,371 MANA, with a circulating supply of $725,651,229.04. 

The price of MANA has climbed by 8.7% over the past month, adding a massive average of $0.03 to its present worth.

In fact, a boom period, or the bull driving the MANA pursuit, began in December 2020 when the asset increased to the Decentraland price of around $0.5. The similar pattern persisted for MANA until April 2021, when the price of MANA soared to a new high of $1.56. However, after reaching a new high, the MANA kept correcting down, and the price of Decentraland fell below $0.43.

Later, the MANA coins were marked to the end of October 2021, and then there was a significant increase that raised the price of Decentraland above $3.5.  Following that, the currency’s trading behavior remained noticeably positive. Decentraland reached a new all-time high of $5.90 in November 2021. However, after reaching a new ATH, the MANA price had a large correction, which caused the price of Decentraland to drop from about $2 to where it is now, which is $0.4697.

Analysis of Coin

Relative Strength Index, or RSI(14).

It is a momentum indicator that is used to spot overbought or oversold stock conditions.The typical consideration period is 14 days. An RSI value of less than 25 is considered oversold. A bearish circumstance is considered to have an RSI between 25 and 45. RSI readings between 45 and 55 are considered neutral.An interpretation of a bullish circumstance is an RSI between 55 and 75. Overbought is viewed as an RSI reading over 75.

 

Moving Average Convergence Divergence is abbreviated as MACD(12,26,9).

It is a momentum indicator that follows trends. Three moving averages—the 9-day, 12-day, and 26-day EMAs—are used in the computation. Buy/sell signals are determined by dividing the 26-day EMA by the 12-day EMA and using the 9-day EMA as the “signal line” in conjunction with the 26-day EMA. It is seen as a positive indication if the MACD is above 0 and crosses above the signal line. It is seen as a negative indication if the MACD is below 0 and crosses below the signal line.

Stochastic(20,3)

It serves as a momentum gauge. It displays where the close was in relation to the high-low range for a predetermined number of periods. The typical consideration period is 20 days. A security is overbought if the reading is more than 80. Bullish conditions are indicated by readings between 55 and 80. Neutral conditions are indicated by readings between 45 and 55.Bearish conditions are indicated by readings between 20 and 45.A security is oversold if the reading is lower than 20.

Bollinger Bands are represented as Bollinger Band(20,2).

A series of lines that are displayed two standard deviations (positively and negatively) from a simple moving average classify it as a technical analysis tool.A 20-day simple moving average’s upper and lower bands are normally within +/- 2 standard deviations of that average.According to this theory, the market is more overbought or oversold the closer prices move to the upper band and lower band, respectively. 90% of price movement takes place between the two bands. A significant event is any breakout above or below the bands. Breakouts do not serve as trading signals.

EMA

The price of the cryptocurrency has successfully surpassed the 20-day exponential moving average, indicating increased bullish momentum in the price. The 50-day EMA has been rejected by the prior candle, which is concerning.

ROC(20)

Its name means “Rate of Change.” It is a momentum oscillator that evaluates the price at the time in relation to a price from “n” periods ago. The typical consideration period is 20 days. A zero line that distinguishes between positive and negative values is shown against the ROC. A value greater than 0 denotes a bullish state. Bearish state is indicated by a value below 0. A value of 0 denotes a neutral state.

Prediction

Price Prediction for Decentraland in 2023

The minimum price of Decentraland will be $0.3106 based on the technical analysis of prices anticipated in 2023. The price of MANA might rise to a maximum of $0.416. The predicted average trade price is $0.526, roughly. ROI potential: 9.5% 

Price Prediction for MANA for July 2023

Crypto experts predict that the average MANA rate will be $0.332 in July 2023 based on the price swings of Decentraland in the beginning of 2023. The projected lowest and maximum prices for it are $0.306 and $0.358, respectively. ROI potential: -5.8%

Technical Levels

Major Support: $0.33 and $0.36

Major Resistance: $0.51 and $0.57 

Conclusion

Decentraland’s price action and market structure have changed for the better once the price began to rise. The price is currently moving in no discernible direction after encountering resistance at the $0.42 level. Technical indicators point to a potential for consolidation as the price may see a brief decline.