Decentraland Price Prediction – Will MANA Price Hit $10 in 2021?

This Decentraland (MANA) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our MANA price analysis and prediction.

Decentraland (MANA) is one of the most active cryptocurrencies that took the crypto world by storm this year. To be specific, the crypto was able to achieve an all-time-high price of $4.69 on October 31, 2021.

Among the cryptocurrencies that are rallying this year, MANA is perhaps one of the most surprising for some. It is not directly related to Bitcoin, nor is it the most hyped cryptocurrency today. But for those that are aware, MANA has been around since 2019.

In this Decentraland price analysis and price prediction, we take a look at the performance of MANA if it will reach $10. But before that, let us learn more about what Decentraland (MANA) is and its current position in the crypto market.

What Is Decentraland (MANA)?

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.

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.

Decentraland (MANA) Current Market Status

According to CoinMarketCap, MANA trades at $3 with a 24-hour trading volume of $25,249,245,049, as of the time of writing this MANA price analysis. The price of MANA has increased by 42.78% in the last 24 hours.

Furthermore, MANA has a current circulating supply of 1.82B MANA. Currently, the top cryptocurrency exchanges for MANA are Binance, OKEx, Upbit, FTX, and CoinTiger Exchange.

Now, let’s proceed to the next part of this MANA technical analysis for 2021.

Decentraland (MANA) Price Analysis 2021

Currently, MANA holds 35th place on CoinMarketCap. But will the recent changes and developments in the blockchain help the cryptocurrency’s price to reach higher? Let’s proceed to the chart analysis part of this MANA price prediction article.

As shown above, at the beginning of this month, MANA turned from its bear-to-bull trend. High volume of trades occurred during this period. Moreover, in the daily time frame, MANA showed an Ascending Scallop pattern.

Typically, this pattern accompanies an uptrend, but there are some instances when it can change and become a downtrend. In fact, the formation of this pattern in the chart above took place over the past month.

The Relative Strength Index (RSI) is at 88.16, which means that MANA is in an overbought state. Hence, this may lead to 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

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA).

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.

Decentraland (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 $5.8. To do this, it has to establish more support at the Fib level at $4.97. If not, bears may gain the upper hand and drag MANA to their territory.

Decentraland Price Prediction 2022

If this bullish trend continues, MANA will reach $10 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $8. Then this rise will slow down, but no major falls are expected. With upcoming partnerships, and developments reaching $15 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Decentraland Price Prediction 2023

The price of MANA can move even great heights, however reaching $25. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency MANA breaks past the psychological resistance level.

Decentraland Price Prediction 2024

As per the latest upgrades, developments, MANA price prediction, and new project forecasts of the platform. Moreover, this might boost the price of MANA in the crypto market, and it will be the best investment as the price can spike and reach around $35.

Decentraland Price Prediction 2025

In the next four years, MANA prices could race up to $50. However, reaching this level could not be so difficult for MANA as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that MANA has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

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, MANA has a high possibility of surpassing $3.7 and can reach above $5.8 this year. However, that will happen only if it breaks past a few psychological barriers.

FAQ

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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