Decentraland Is Surging 15% In 3 Days, But Who Is Buying It?

Decentraland is surging 15% in three days and with these gains, crypto investors are expected to buy more of MANA so let’s have a closer look at today’s latest altcoin news.

MANA sustained the bullish streak despite the smaller decline that was seen in the past trading sessions. The coin opened at a lower price but then maneuvered and retraced after testing the $1.02. Surpassing this level is set to generate more gains and by looking at the charts, MANA surged with an increase of 2.20% in the past day with 15% in the past three days. Decentraland is surging and it managed to retest the $1.01 level once again.

Seeing the inverted Head and Shoulders formation shows a bullish trend that can predict the breach of the higher zone and further MANA’s price is trading above the 50-day EMA as it can be seen in the past few days which only confirms the potential breakout. MANA buyers are looking at the $1.12 mark that can be followed through the $1.30 level.

While MANA moves into the asymmetrical triangle pattern, it formed a double top and with the price retracing from that point, it will likely now test the $0.92 level. Additionally, the price also gave way to the bearish Bat pattern which almost never happens. MANA is shooting for an upward trend on the higher timeframe but the correction moving near this level is possible only in a smaller time frame. Once the price breaches $1.0, it signals a great buying opportunity.

Despite the fast fluctuations of MANA, analysts were quite bullish on the token and since it is a metaverse token, MANA rose in price last year with the launch of META formerly known as Facebook. In a world that is owned by users of the metaverse, MANA proven many times before that it is the leader in the crypto gaming sector and can become the king of the metaverse or the 3D virtual world. Decentraland is known as the first of its kind virtual world which is fully owned by the creators and the users. Decentraland also has its own NFT market and users can explore and trade inside the evolving space. Also, they can buy and sell plots of land and pets with the MANA token.

Moreso, Decentraland has a DAO pretty much like RoboApe, and with that said, the holders of the token can vote about changes in the ecosystem. The meme token culture is shaped and modified in the safe metaverse so up to this date, the Decentraland marketplace has a total of 160,000 sales with a trading volume that peaks at $348 million.