|Performance after Monday 13-Jun|
Decentraland (MANAUSDT) price for the week to-date dropped -1.19% or -0.0094 lower to 0.78. At time of writing into Tuesday’s trading session, Decentraland has increased by 1.84% over the past 24 hours. For the record, Decentraland is -86.76% below all-time high of 5.89. On Monday, MANA rose 4.92% to 0.83.
On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is rising but in oversold zone, our analysis is that the price action might be set for a rebound.
For the month-to-date, MANA is down by -28.37% or -0.3087 lower.
What can we expect from Decentraland today?
Looking ahead for the day, to see upside interest, we prefer to look at price breakout of last daily high of 0.88680 or trades above daily pivot 0.81840. and daily low of 0.74070 and 0.75000 (S1) as key support levels. Decentraland need to break on either side to indicate a short-term bias. A break above 0.88680 would suggest bullish bias after recent positive movement.
For the week to-date, take note that Decentraland is falling as the pair posted lower, down by -1.19%. Prior performance for the week ending 2022-06-12 was -19.28%.
Key levels to watch out:
Last updated: 02:34 am UTC, 14-Jun 2022
Decentraland is an Ethereum-powered virtual reality platform. In this virtual world, you purchase plots of land that you can later traverse, build upon, and monetize. There’s no limit to what you can do. It’s the first digital platform that’s completely owned by its users. Similar to games like Skyrim and Fallout, Decentraland is an all-immersive virtual universe. However, instead of playing on a 2-dimensional screen, you participate in a 3-dimensional world. It seems to be the logical next step before creating full-blown AI-based games in the physical space à la Westworld. Similar groupings on LAND comprise Districts. Districts are basically communities that revolve around a shared theme. For example, there may be a District just for crypto enthusiasts with cryptocurrency apps and services.The Decentraland team is led by Ari Meilich (Project Lead) and Esteban Ordano (Tech Lead). Ordano previously worked at Bitpay as a software engineer and founded Smart Contract Solutions, Inc. Both founders have also worked together in creating Stremium and Bitcore. Decentraland has been around for longer than you may think. The team hit their first development milestone, Stone Age, in June 2015. This was a simple, pixelated grid that allocated pixels to users through a proof-of-work algorithm. Most recently, they held a Terraform Event in which they sold LAND in the new, 3D world. The team has also partnered with district0x, Aragon, and imToken to provide some of their services.MANA is the token used to buy lands in Decentraland. The Blockchain platform can be incorporated in order to buy or sell the various digital assets available in the virtual world. An unclaimed land would have the same market pricing on every exchange possible and precisely the developers are on a hunt for such since as they can build on top of it, and attract lot of popularity. However, one must keep in mind that the land parcels are different from them and each one of them varies according to the various market conditions of that time. Mana can be a great investment and can be bought by trading and with other Bitcoin, Ethereum, or any other prominent cryptocurrency and on some of the most notable cryptocurrency exchanges. Specifically, Binance and Huobi are two of the best cryptocurrency exchanges that one can suggest for trading Mana tokens.The Decentraland coin isn’t a minable cryptocurrency as it is issued on the Ethereum blockchain, unlike Bitcoin and other similar currencies. So users looking to engage in some Decentraland mining will be disappointed. Instead, it was sold during token sales and is now being traded on exchanges.
Explore the first decentralized metaverse that is built, governed, and owned by its users—discover different districts, meet people, party at events, and more!
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