MANA has moved sideways in the last 4 months

MANA’s relative strength index showed growth, which indicates an increase in buying activity.

  • New developments in Decentraland, partnerships contribute to the price increase
  • Decentralized social quotas increased by 89.07%
  • Mana cost increased by 1.04%.

There are a lot of exciting developments happening for Decentraland (MANA), such as the partnership of Estadio Plus with Spanish soccer league giant LaLiga.

The partnership will allow LaLiga to feature virtual terrains starring the city of Vegas, which owns Decentraland’s largest entertainment, gaming and sports areas.

That being said, a significant reversal is possible by breaking the $0.84 resistance and hitting the $1.26 mark.

according to CoinMarketCapMana is up 0.15% or trading at $0.7431 as of press time.

Mana/USDT pair: side rally

The MANA/USDT pair has seen a sideways movement over the past four months. With this support trend, the $1.15 resistance is now a barrier to any bullish outbreak. However, support levels between $0.756 and $0.74 have set up an active bullish move.

Decentraland’s price dropped to key support at $0.71, following a rebound in the second half of August and higher CPI data following strong retail sales. On the upside, MANA tested the support level several times, triggering a recovery.

At this point, buyers can recover prices from the ground and set up a bull run at the key resistance of $0.756. However, to do so, the buyer would need to break the $0.84 supply level to confirm this rally.

On the other hand, a breach below the $0.71 mark would indicate a bearish trend that could see MANA lose the $0.71 support.

Decentraland social parameters up

Decentraland is sparking massive social engagement following its development announcements with LaLiga. Stephen Ibbotson, Head of Franchises and Licensing CEP, said: “This licensing agreement allows us to reach a new and significant audience like Decentraland.”

The news boosted Decentraland’s NFT numbers significantly. Decentralized social citations increased by 89.07%. Social participation improved by 30.6%. Moreover, Decentraland’s NFT prices rose to 1.66 ETH, an increase of 9.42%.

Miles Anthony, CEO and Co-Founder of Decentraland Games, tweeted about the huge progress seen in Decentraland at the end of Q4.

“Yesterday, on Day 2 of ICE Poker Flex live, we had an all-time high of 614 DAU (Daily Active Users) and 593 tournaments played,” he said.

MANA total market cap at $1.37 billion on the daily chart | Source:

Featured image from Binance Academy, Chart:

(The analysis represents the author's personal views and should not be construed as investment advice).

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