Decentraland Price Prediction 2022 — Will MANA Hit $6 Soon?

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Decentraland Price Prediction — Will MANA Hit $6 Soon?
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  • Bullish MANA price prediction is $3.2 to $5.10.
  • The MANA price will also reach $6 soon.
  • MANA bearish market price prediction for 2022 is $0.05.

In Decentraland’s (MANA) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about MANA to analyze the future movement of the cryptocurrency. 

Decentraland Current Market Status

According to CoinGecko, the price of MANA is $3.05 with a 24-hour trading volume of $929,517,408 at the time of writing. However, MANA has increased nearly 12.7% in the last 24 hours.

Moreover, MANA has a circulating supply of 1,512,254,275 MANA. Currently, MANA trades in cryptocurrency exchanges such as Binance, OKX, FTX, CoinTiger, and Bybit.

What is Decentraland (MANA)?

Decentraland (MANA) is an ERC-20 token powered by Ethereum blockchain. Users can now use MANA to purchase land and pay for goods and services in Decentraland. The MANA token can be purchased from a variety of centralized exchanges, decentralized exchanges and swapping services.

Decentraland (MANA) Price Prediction 2022

Decentraland holds the 35th position on CoinGecko right now. MANA price prediction 2022 explained below with a daily time frame.

MANA/USDT Descending Channel Pattern (Source: Tradingview)

A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. The descending channel pattern is also known as a falling channel or channel down. The upper line is identified first, as running along with the highs and is called the trendline. 

The lower line is identified as parallel to the trendline, running across the bottom. It is a bearish chart pattern defined by trendline support the series of lower lows and a diagonal resistance level connecting the lower highs.

Currently, MANA is in the range of $3.05. If the pattern continues, the price of MANA might reach the resistance level of $5.104. If the trend reverses, then the price of MANA may fall to $1.66.

Decentraland (MANA) Support and Resistance Level

The below chart shows the support and resistance level of MANA.

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MANA/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of MANA.

Resistance Level 1 $3.27
Resistance Level 2 $6.03
Support Level 1 $1.68
Support Level 2 $0.75
Support Level 3 $0.38
Support Level 4 $0.1312
Support Level 5 $0.05
Support and Resistance Level

The charts show that MANA has performed a bullish trend over the past month. If this trend continues, MANA might run along with the bulls overtaking its resistance level at $6.03.

Accordingly, if the investors turn against the crypto, the price of the MANA might plummet to almost $0.05, a bearish signal.

Decentraland Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of MANA shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of MANA lies below the cutoff line, indicating weaker participants in the current trend.

More so, the MANA’s Moving Average (MA) shown in the chart above. Currently, MANA is in a bullish state. Notably, the MANA price lies above 50 MA (short-term), so it is completely in an upward trend. Therefore, there is a possibility of a reversal trend of MANA at any time.

Meanwhile, the relative strength index (RSI) of the MANA is at level 59.33. This means that MANA is in a neither overbought nor oversold state. However, this means a major price reversal of HNT may occur in the upcoming days.

Decentraland Price Prediction 2022 — ADX, RVI

Let us now look at Decentraland’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

The above chart represents the ADX of Decentraland. Currently, MANA lies in the range of 34.98, so it indicates a strong trend. 

From the above chart, the Relative Volatility Index (RVI) of MANA. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of MANA lies above the 50 levels, indicating that the direction of volatility is high. In fact, MANA’s RSI is at 59.33 level thus confirming a potential buy signal.

Comparison of MANA with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Decentraland.

BTC Vs ETH Vs MANA Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC, and MANA is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and MANA also increases or decreases respectively.

Conclusion

With continuous improvements in the Decentraland network, we can say that 2022 is a good year for MANA. For this reason, the bullish price prediction of Decentraland in 2022 is $5.10. On the other hand,  the bearish MANA price prediction for 2022 is $0.05.

Furthermore, with the advancements and upgrades on the MANA ecosystem, the performance of MANA would help to reach above its current all-time high (ATH) $4 very soon. But, it might also reach $6 if the investors believe that MANA is a good investment in 2022.

FAQ

1. What is Decentraland?

Decentraland is a decentralized metaverse based on the Ethereum blockchain that enables users to explore, communicate, and exchange NFTs for virtual land and other commodities.

2. Where can you purchase MANA?

MANA has listed on many crypto exchanges which include Binance, OKX, FTX, CoinTiger, and Bybit.

3. Will MANA reach a new ATH soon?

With the ongoing developments and upgrades within the MANA platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Decentraland?

On Nov 25, 2021, MANA reached its new all-time high (ATH) of  $5.85.

5. Is MANA a good investment in 2022?

Decentraland (MANA) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of MANA in the past few months, MANA is considered a good investment in 2022.

6. Can Decentraland (MANA) reach $6?

Decentraland (MANA) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Decentraland (MANA) will hit $6 soon.

7. What will be the MANA price by 2023?

Decentraland (MANA) price is expected to reach $7.5 by 2023.

8. What will be the MANA price by 2024?

Decentraland (MANA) price is expected to reach $8.8 by 2024.

9. What will be the MANA price by 2025?

Decentraland (MANA) price is expected to reach $10 by 2025.

10. What will be the MANA price by 2026?

Decentraland (MANA) price is expected to reach $12 by 2026.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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