- In the last 14 days, the trading price of the Decentralized (MANA) crypto has advanced by 15.9%.
- MANA crypto chart shows high liquidity.
Decentraland is a virtual reality platform on Ethereum, enabling users to create, experience, and monetize content. Land ownership is recorded on the blockchain, purchasable with the MANA token.
MANA facilitates transactions content creation, and event hosting. Founded by Meilich and Ordano in 2017, Decentraland raised $35 Million in its token sale, launching officially in 2020.
The circulating supply of the Decentraland crypto is 1.893 Billion MANA and the total supply of the token is 2.193 Billion MANA. Also, the fully diluted market cap of the token is $1.117 Billion and the circulating supply market cap of the crypto is $941.648 Million.
The supply inflation of the Decentraland token is 2.05% which is considered medium and the market cap dominance of the crypto is 0.05%. The market cap of the token is up 1.02% over the last 24 hours.
The trading volume of the Decentraland crypto has declined by 7.7% in the last 24 hours resulting in a traded volume of $97.734 Million. Also, the market cap of the token is $964.497 Million which makes it the 75th largest cryptocurrency in the crypto market.
The volatility of the Decentraland token price is medium and the sentiment of the crypto is bullish followed by a fear and greed index indicating extreme greed.
Decentraland Token Derivatives Analysis
The open interest of the Decentraland crypto is trading without a significant change in the last 24 hours. The derivatives trading volume of the crypto has advanced by 20.2% resulting in $91.09 Million.
Also, the long/short ratio of the crypto is 0.9751 and the long liquidation for the crypto is worth $56.84K and the short liquidation for the crypto is $18.39K. The following data of the derivatives represent weakness followed by the last 24 hours.
MANA Crypto Technical Analysis
On the weekly timeframe, the trading price of the MANA crypto was following a strong downtrend and making lower low timeframe on the chart. The following downtrend in the price led to a decline of more than 90% in the trading price.
The price of the crypto after declining to certain lows is trying to rebound from the lower levels and has started to form higher high pattern on the weekly chart. The following behavior of the price of the crypto indicates strength in price. Also, if the price of the crypto breaks above the last swing high, further surge in the price of the crypto could be seen.
MANA/USD Chart by TradingView
The MANA crypto price is following a bullish price action and has broken above the 50 and 200-Day EMAs resulting in a bullish cross of the two EMAs.
The MACD and the signal line has advanced above the zero level and the MACD line is trading at a level of 0.0117. The MACD also has formed bullish histograms on the chart indicating buyers presence in the crypto. The RSI is also trading in a bullish zone and has advanced to the level of 64.06 and is trading above the 14-day SMA. The following behavior of the crypto shows strong momentum in the crypto price.
Summary
In the past 14 days, MANA crypto surged by 15.9%, showing strength in its trading price. Decentraland’s high liquidity and bullish sentiment indicate positive market dynamics. With a rebound from lower levels, forming higher highs, and bullish indicators like MACD and RSI, MANA signals potential further price uptrends ahead.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
