Will MANA Hit $2 by the End of July 2022?

Key Takeaways

• The Decentraland (MANA) price closed the previous day’s trade at $0.9322 with a market capitalization of $1.71 billion and a circulating supply of 1.85 billion MANA
• The MANA price is swinging within a narrow region from more than a month and hence appears to be primed to surge more than 30% but only after a corrective move of nearly 12%

DecentralandPrice Analysis for July 2022

Current Price	$0.9826
Market Cap	$1.81 billion
Circulating Supply	1.85 billion MANA
Total Supply	2,193,629,627
Vol (24H)	$465,894,298
Change(7D)	+18.84%
Change (30D)	+10.10%

Check latest MANA INR Price, Charts, and Data

Will MANA Price Hit $1.5 in the Upcoming Week?

Decentralalnd (MANA) price faced two consecutive rejections from $1 since the beginning of the week. The asset is swinging within a bullish pattern and hence the price may continue to regain $1 in the next couple of hours. However, the asset is hovering close to the upper resistance and hence the probability of an upswing by more than 5% and head beyond $1.2 in the coming week. An extended rally may uplift the price close to $1.5.

Will MANA Price Reach $2 in July 2022?

The Decentraland price remained pretty active since the beginning of the monthly trade. Despite a major pullback, the price recovered quickly ganing more than 30%. No doubt, the price dropped significantly but regained the levels in no time. The price is swinging within an ascending triangle, and pretty distinct from the its apex.

Therefore, in case of a pullback, the price revisit $0.85 levels again throughout the upcoming week. By the end of the week and the monthly trade, the asset may head towards the crucial phase, the apex of the triangle. Here, the price is expected to break the pattern and move as per the volume induced. 

In case of a notable buying volume influx, the price may surge beyond $1.5 but $2 could be pretty distinct. 

Will MANA Price Reach $10 in 2022?

The current month close may have a major impact for the upcoming price trend for the rest of 2022. The asset has been extremely bearish since the beginning of 2022 and has maintained a stagnant trend for nearly a couple of months. Therefore, it appears like the MANA price is accumulating strength to pull a notable leg up in the coming days. 

As mentioned before, the asset is swinging within an ascending triangle and hence may consolidate until the first week of August. Later, a significant breakout is expected to uplift the price beyond the pattern and lay down a notable bull run ahead. Therefore, by the end of Q3 trade, the prices may hover close to $3. Further by the end of 2022, the asset may beach towards $4.5, surpassing crucial resistance at $4. 

Decentraland Price Prediction: MANA Price Trend Comparison with SAND

Source: Tradingview

• Decentraland and the Sandbox, both are considered as top NFTs in the cryptospace, whose trend are closely relatable
• While MANA price has maintained some consistency from past couple of days, SAND price had lost grip over the rally in between
• However, the SAND price regained the levels and eventually trading very close to that of MANA price
• While MANA price after a rebound from -16% is trading at +3.52% at the press time, SAND price leaped long from -42% to as high as +2.72%

Additional Read: MANA vs SAND

Correlation of MANA/USDT and MANA/BTC 

Source: Tradingview

• Bitcoin prices tumbled down significantly since the beginning of June and hence the BTC trading pair volumes rose along with the price
• The MANA/BTC pair surged high, displaying enough strength after it met its bottoms in the first few days of June and maintained a consistent trend since then
• On the other hand, the MANA/BTC price drained notably and unable to gain bullish momentum 
• The MANA/USDT itrading at +3.49% after rebounding from -16% whereas MANA/BTC is trading around +34.6%, flipping from its lows at -12%

Decentraland  Technical Analysis

• MANA price is testing the upper resistance and after a couple of rejections, these levels may have become pretty weak to hold. 
• However, in the short-term, the asset has formed a minor double-bottom pattern that may end up pulling a notable leg up
• The immediate target may be to achieve $1 at the earliest and later secure levels above $1.12 
• The major resistance lies at $1.25 and surging beyond which may certify the revival of a bullish trend ahead

Additional Read: Bitcoin Price Prediction

Impact of Crypto Crash on MANA Price

The MANA price underwent a huge rally during the last few days of 2021 and before the end of 2021, a huge bearish trend was much in place. However, the asset tried to rebound and materilaize a strong uptrend but with multiple events that created huge FUD within the space deteoried the rally to a large extent. 

On the other hand, the newly imposed Tax regime within the Indian Subcontinent has hampered the trading activities within the country. As per the new policy, a trader is required to pay 30% tax on his crypto earnings and 1% TDS on every transaction. This has dried huge volume within the exchanges.

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.

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