Rolling motion of MANA over the past 4 months

MANA’s Relative Strength Index shows growth indicating increased purchasing activity.

• New Developments in Decentraland, Partnerships Contribute to Soaring Prices
• Decentraland’s social mentions were amplified by 89.07%
• MANA price increased by 1.04%

There are so many exciting developments happening at Decentraland (MANA), including StadioPlus’ partnership with LaLiga, the giants of the Spanish football league.

The partnership will allow LaLiga to feature virtual land themed plots starring in Vegas City, which happens to own Decentraland’s largest entertainment, gaming and sports areas.

That said, a bullish reversal is possible, crossing the $0.84 barrier and peaking towards $1.26.

according to coin market capitalizationthe MANA price jumped 0.15% or is trading at $0.7431 at the time of this writing.

MANA/USDT Pair: Flat Rally

The MANA/USDT pair has been observed in sideways movement for the last four months. With this uptrend, the $1.15 resistance is a barrier to bullish outbreaks. However, the $0.756 to $0.74 support level is accumulating a brisk bull run.

Decentraland price fell to critical support at $0.71 following the retracement that occurred in late August and the massive selling given the high CPI data flash. Conversely, MANA has repeatedly tested support levels and caused a recovery.

At this point, buyers can revive the price from zero and set up a bull market at the major resistance of $0.756. But to do so, buyers will need to hook the $0.84 supply level to validate this rally.

On the other hand, a break below $0.71 indicates a downtrend where MANA may lose support at $0.71.

Decentraland Social Metrics Up

Decentraland has sparked huge social engagement following LaLiga’s development announcement. Stephen Ibbotson, Head of Franchising and Licensing CEP, said:

The news has dramatically improved the number of NFTs in Decentraland. Decentraland’s social mentions were amplified by 89.07%. Social engagement also improved by 30.6%. Furthermore, Decentraland’s NFT price also he surged to 1.66 ETH, showing a 9.42% increase.

Miles Anthony, CEO and co-founder of Decentraland Games, tweeted about the significant improvements seen in Decentraland towards the end of Q4.

“Yesterday was the second day ICE Poker Flex went live, with a record 614 DAUs (Daily Active Users) and 593 tournaments played,” said Anthony.

MANA total market cap at $1.37 billion on the daily chart | Source: TradingView.com

Featured image from Binance Academy, Chart: TradingView.com

(The analysis represents the author's personal views and should not be construed as investment advice).