Decentraland (MANA) Price Drops Alongside Decreased Sales

Decentraland (MANA) has broken down from a short-term support level and risks invalidating its bullish structure. The post Decentraland (MANA) Price Drops Alongside Decreased Sales appeared first on BeInCrypto.

Timeline of Decentraland

In the Metaverse, anything is possible. Want to fly? No problem. What about participating in a life-like dungeon exploration? You got it. But there are two aspects of the Metaverse that many are particularly excited about: owning plots of land and wearing high-end luxury watches, both ordinarily inaccessible to the average person.

Decentraland (MANA) price has been steady in the range of $0.75 to $1.05 as it hovers with intensified upward movement. MANA price on the daily chart is trying to hold the consolidation of the upper trendline from the lows seen on 2021 Decentraland price has managed to hover above 20 EMA and 50 EMA and warming up for the 100 and 200 DMA MANA price has spiked by 0.13% and currently trading at $1.05 Decentraland (MANA) has been sitting within the same region since June 2022.

Decentraland (MANA) shows an uptick after it has successfully breached a critical supply level adjacent to $0.9405. Decentraland (MANA) on an uptrend following breach on critical supply mark near $0.9405.

The bear market is in full gear and Bitcoin (BTC) and the alt coins have not been spared from price slashing. With crypto tokens seeing as much as 80% in price cuts, token holders have become quite reserved and liquidity seems to be exiting the markets.

Decentraland (MANA) may appear bullish as seen in the past couple of days due to buyers keeping the prices up hovering above 200 DMA as observed on the hourly chart. Regardless, the token still trades the sideways horizontal range with $0.75 for support and $1.0 resistance.

Decentraland (MANA) price has been on a surge for quite some time after registering a gain of 15% for the past four days. The rise in trading volume implies that traders and investors are overall happy with the increase in prices.

Not to be confused with Decentraland, Decentral Games is a non-custodial casino protocol designed to function as a play-to-earn game operator within Decentraland. On the gaming platform, ICE Poker, its Play-to-Earn metaverse poker built around “Texas hold'em,” is the most successful game on Decentral Land.

As the Bitcoin price is sustaining above $23,000, the altcoins gain notable bullish momentum and rise high. On the other hand, after surging by more than 10% in the past week, Ethereum's price is also aiming to rise high to test the immediate resistance at $1840.

Over the last seven days, the Metaverse economy's leading cryptos have noted unimpressive price performances. In fact, according to data from CoinMarketcap, ApeCoin's APE and Decentraland's MANA registered gains of only 1.12% and 0.80% over the last seven days.

As civilization goes deeper into the digital sphere, non-fungible tokens (NFTs) have started dominating the investment sector. The world of cryptocurrencies is becoming more intriguing, especially with the introduction of NFTs.