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Decentraland: MANA defies negative trend in the crypto market

Decentraland’s (MANA) price has managed to break away from the other altcoins and their weak trendline over the past 24 trading hours.

By Finst News
• 2 min read
Decentraland: MANA defies negative trend in the crypto market

The price of Decentraland (MANA) has managed to break away from the other altcoins and their weak trendline over the past 24 trading hours. Decentraland (MANA) rose by 4.1%.

One of the reasons could be the Decentraland Metaverse Fashion Week. From March 28 to 31, well-known fashion designers like Dolce & Gabbana, Tommy Hilfiger, Adidas, and DKNY will showcase digital images of their fashion collections.

If we look at several price analyses, we see two scenarios. Decentraland is currently trading at US$0.61. The bottom of the first relevant resistance zone. If MANA can reach a price of US$0.63, it will likely push toward US$0.66. If the next resistance zone is surpassed, many experts think the MANA price will move toward US$0.74.

The upside target for Decentraland right now sits around US$0.84. The high of the past year. However, we won’t reach this level until the market recovers further. The bearish scenario: if the MANA price falls below the broad support area between US$0.56 and US$0.53, we could see a sell-off, similar to January 13, 2023. Back then, MANA dropped to US$0.43.

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