Price Predictions

Decentraland Price Prediction 2023: MANA Price Gearing up to Reach $1.5 Soon!

Decentraland Price Prediction 2023

Key Takeaways:

  • The Decentraland price has undergone a notable upswing and surged by nearly 170% in just a fortnight 
  • The price is experiencing a minor bearish action, much required to attract new traders that may keep up the bullish momentum for the rest of the year 
  • The rise in development activity points out towards the bullish narrative of the asset in the long term

Additional Read: The Sandbox Price Prediction

Price  $0.6538
24H Price Change  -5.56%
7D Price Change +61.98%
MarketCap  $1.21 billion
Circulating Supply 1.85 billion
Trading Volume  $399.38 million
ATH $5.9
ATL $0.007883

Decentraland  Price History

  • Decentraland, one of the top NFT platforms on Ethereum, was launched following a $24M ICO in 2017 and released its beta in 2019. Further, the token went live in February 2020.
  • The price primarily traded under the bearish influence since the beginning below $0.1 which was flipped during the 2021 bull run
  • The price surged high to reach $1.4 in its first attempt while displaying a monstrous rally during its second attempt and marked ATH around $5.16 
  • Woefully, the price has been trading under extreme bearish pressure since then, while the recent rebound kept some hopes alive 

Decentraland  Technical Analysis

Dcentraland (MANA) Price Predictions 2023

Source: Tradingview

  • The Decentraland price displayed a parabolic recovery to regain the lost levels in November 2022 due to the market collapse fueled by FTX fallout
  • After reaching the neckline of the parabolic curve, the price faced a minor rejection and underwent a minor pullback 
  • In case of extended bearish action, the price may test the interim support that may trigger a notable upswing back towards the neckline and may consolidate for a while.
  • Further, a notable bullish push may elevate the prices towards the higher targets above $0.8 at around $0.87 

Overview of Decentraland  On-chain Analysis:

Decentraland  Daily Active Address

Decentraland Price Prediction 2023

Source: Santimnet

The daily active address is calculated considering all the addresses that interacted with the platform in a day. The address may either indulge in a buy trade or a sell trade or just swap their tokens to others. Each address is counted just once per day while both the sender’s and receiver’s address is accounted for. 

The DAA of Decentraland had risen significantly in November when the market crashed indicating more traders had sold MANA extensively. Since then the platform has become more active as the DAA is forming more variations, keeping the platform active. The DAA has risen notably but failed to reach the previous levels. 

Decentraland  MVRV Ratio

Decentraland Price Prediction 2023

Source: Santiment

The MVRV ratio or the Market value to Realized value ratio is defined as market capitalization divided by the realized capitalization. It describes the ratio between the current price and the average price. If the value increases, then it indicates that the traders are willing to extract their profits as it gives an idea of whether the token is undervalued or overvalued.

The MVRV ratio of MANA price has dropped heavily in the negative regions indicating that the traders are accumulating and not willing to sell the token. Decentraland is largely undervalued at the moment and hence is expected to rebound at the earliest in the coming days. 

Decentraland  Development Activity

Decentraland Price Prediction 2023

Source: Santimnet

The development activity of a project is calculated on the GitHub repositories wherein the developers submit their commits. A rise in the development activity indicates that the developers are serious about the growth of the project by delivering new features in the future. However, the possibility of the project being an exit scam reduces. 

The development activity of Decentraland has been rising significantly ever since the beginning of the second half of 2022. Regardless of the bearish price movements, the activity remained elevated which signifies that the fundamentals of the projects are becoming stronger. Therefore, notable growth in the fundamentals and price may be expected.

Read More: Top Metaverse Tokens In 2023

Decentraland  Price Prediction for 2023

Decentraland price traded within a descending trend substantially throughout 2022 and formed the bottoms below $0.3 by the end of the year. The start of the yearly trade in 2023 appears to be fruitful but the bearish interference may also be predominant. Therefore, now when MANA price is trading at $0.66, it may close the Q1 trade beyond $1 and Q2 around $1.3 if levels are around $1.15.

The price is believed to maintain a notable rally in the next half of 2023 and reach levels around $1.5 in a short while. Further, the price may head towards $1.65 but the bears strengthened their grip and slash the prices lower. By the end of 2023, the MANA prices are believed to hover around $1.75 after withstanding bearish pressures.

Decentraland  Price Prediction for 2024

The start of the year 2024 may be fairly bullish as the bulls may have accumulated significant strength by undergoing a minor upswing throughout 2023. However, the market sentiments are expected to turn bullish as the star crypto, Bitcoin is believed to undergo halving, probably in April. The markets are believed to kickstart a notable upswing later that may rise the price close to its ATH.

The MANA price could have risen above $2 during the H1 2024 and soon after the halving, a notable upswing may begin. The bulls may outperform the bears and uplift the price close to $2.5 by the end of Q3 2024. As the trade approaches the last quarter of the year, the bull run may get intensified which may uplift the price beyond $3 to $3.2. 

Decentraland  PRICE PREDICTION 2025-2030

The year 2025 may be largely bullish, as the MANA price is believed to maintain a strong upswing until it does not form a new ATH. After forming new highs in 2025, the price is believed to remain inflated and rise another 20% to 30% above the current ATH. During 2026, the MANA price hovers around $6.5 to $7 in the first few months and later falls into a deep bearish trend. 

The bearish trend could prevail throughout 2028 but the lower support at $5.5 to $5.8 may be held firmly. However, with a slight increase in the bullish momentum in 2029, the price may again rise high to regain the lost levels. After recovering to some extent, the bulls may have absorbed significant strength by which the price is believed to rise high close to a double-digit figure in 2030. 

Year Decentraland  Price Forecast
2023 $1.7 to $1.75
2024 $2.2 to $2.8
2025 $3.1 to $3.5

Should you invest in Decentraland in 2023? 

Decentraland is one of the popular NFTs in the crypto space that ignited the NFT boom during Q4 2022. While the prices have been heavily consolidated since then, the token carries the potential to rebound finely in the coming days. However, before investing in MANA or any other token, having in-depth knowledge of the fundamentals, the roadmap, and the vision of the project is very important. 

FAQs

What will the Decentraland be worth in 2023?

The Decentraland price may trade between $1.7 to $1.75 by the end of 2023

What will be the price of 1 Decentraland in 2030?

The MANA price may aim to mark a 2-digit figure by the end of 2030 by remaining slightly consolidated below $10.

Will Decentraland ever hit $10?

Decentraland price displays the huge potential to reach the desired target at $10 but could consume some more time than required.

Is Decentraland a safe investment?

Decentraland with the 2021 upswing has displayed its potential to rise high and by holding above the crucial support in 2022 manifested its strength. Therefore, may be considered for investment but studying the price movements before a investment is imperative to manage risks properly

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