Decentraland [MANA] halted at psychological $1 mark as it sees a short-term range formation

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. On the lower timeframes, Bitcoin BTC has held the $23.5-$23.7k area as support over the past couple of days.

Timeline of Decentraland

Decentraland is surging 15% in three days and with these gains, crypto investors are expected to buy more of MANA so let's have a closer look at today's latest altcoin news. MANA sustained the bullish streak despite the smaller decline that was seen in the past trading sessions.

With the recent gains of Decentraland (MANA), crypto aficionados are expected to buy. MANA has sustained its bullish streak despite minimal decline seen in the past trading session.

Since Bitcoin reached a new all-time high of $67,000 in 2021 and fell below the $20,000 line this year, investors have been in the market for a new coin that can bring them as much profit as the early BTC adopters raked in with Bitcoin.

The popular CBS comedy show Ghost lays the groundwork for entering the virtual world. The entertainment platform has unveiled its planned immersive experience, which CBS will host on the Web3 network, Decentraland.

Decentraland's [MANA] descent below the $2-mark has constricted the alt within the bearish shackles. The alt has been struggling to find a position above the EMA ribbons for over three months now.

As the Metaverse mania spreads throughout a number of nations, the virtual reality platform has changed to bullish. For today, the MANA price analysis remains bullish as prices rise above the resistance, which was found at $0.990.

 The Metaverse is a rapidly growing space with many important industry players supporting its growth. Huge organizations, including Grayscale Investments have even claimed it has the potential of being a $1 trillion industry.

About a week ago, we explored the possibility of MANA exiting its triangle pattern. Fast forward to the present and that breakdown took place, courtesy of a crypto market sell-off that commenced this past weekend.

Novice crypto traders seek out ventures with significant room for expansion. But experienced traders hunt for cryptocurrency ventures that will deliver a long-term return by approaching trading, such as by making investments.

Decentraland remains one of the largest metaverse projects by market cap (Worth $1.6B, at press time), despite the latest bear market. In fact, MANA enjoyed a strong bullish performance in 2021 on the back of the metaverse's hype.