If you bought Decentraland‘s MANA in December or early this month, good for you. Up until recently, when it ran into trouble at a key level, it had been doing very well. MANA is currently trending in metaverse news.
But the question would be whether investors should expect to make less money or more But the question would be whether investors should expect to make less money or more money.
Decentraland is still one of the most well-known blockchain-based metaverse projects. Metaverse projects aren’t getting as much attention as they did in 2021 and 2022, though.
Metaverse projects aren’t getting as much attention as they did in 2021 and 2022, though.
This makes anyone who is keeping an eye on MANA wonder about its long-term potential. All of it comes down to the project’s plans for the future, and the most recent news about it might give some answers.
In the update, it says that Decentraland wants to improve its network and use. The network is working to add more creators as part of its plan to grow. But what does this mean for people who have a MANA?
One point of view is the idea of development. Decentraland wants to get more developers to use its platform, which could make development stronger by 2023.
Most cryptocurrency projects have had a lot of development activity since the beginning of January, but Decentraland’s has been mostly erratic and down since then. But it has gotten worse in the last five days.
Decentraland is trying to help the economy grow
A look at both the bulls and the bears in the MANA market. If you bought Decentraland’s MANA in December or early this month, you did well. Up until recently, when it ran into trouble at a key level, it had been doing very well.
But the question is whether investors should expect to make less money or more money.
This makes anyone who is keeping an eye on MANA wonder about its long-term potential. All of it comes down to the project’s plans for the future, and the most recent news about it might give some answers.
In the update, it says that Decentraland wants to improve its network and use. The network is working to add more creators as part of its plan to grow. But what does this mean for people who have a MANA?
One point of view is the idea of development. Decentraland wants to get more developers to use its platform, which could make development stronger by 2023.
Most cryptocurrency projects have had a lot of development activity since the beginning of January, but Decentraland’s has been mostly erratic and down since then. But it has gotten worse in the last five days.
A project from Santiment that is decentralized and growing
In the past, projects with a focus on the long term have been more active in terms of development. If history is any guide, and Decentraland is successful, investors will have more faith in it.
If the results are good, MANA may become more well-known in the coming months. Still, the near-term outlook is still not clear, especially since demand is slowing.
Even though the metaverse alt has been moving sideways since mid-January, it has stayed just above the 200-day moving average.
The way MANA is right now puts an emphasis on relative strength. Still, there is still a chance that volatility will come back.
What should investors expect?
If demand increases in February, MANA could start another bullish uptrend and move toward the next level of resistance at $0.80.
On the other hand, a bad result could push prices down to as low as $0.60. Since the middle of the month, Decentraland’s network growth has slowed, and it is now at a new monthly low.
But it’s important to note that the realized cap has reached a new monthly high. If investors are fooled by FUD, this could mean that there is enough liquidity to allow investors to take profits.
The “glass half full” point of view says that investors are keeping their coins instead of selling them. This means there is hope for a better recovery in the next few weeks.
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