After years of underperforming, seems to be finding its footing after a pump of over 40% over the last 10 days.
With Virtual reality evolving rapidly and Companies like Meta introducing high-resolution, lightweight VR headsets, can VR make a comeback in crypto?
Will Mana continue to pump and lead VR-related crypto into making a comeback? What drives the current pump? Let’s talk about its potential.
Some coins have had a very painful bear cycle. Based on their latest outlook, this bear cycle that has been going on since 2021 may be over. After that, I expect them to start a new bull cycle.
https://x.com/justhodler/status/1911720550826664108Since its launch in 2017, Decentraland has led the VR and Gaming category in crypto and achieved notable success. Over the years, it gained the attention it deserved until it hit its peak in 2021.
Where gaming and VR were booming, crypto and MANA were the perfect choice for investors, where it reached a market cap of $8.5 billion. Since then, VR as a whole has not performed as well, and MANA has lost most of its value.
However, with the struggles many people face in real life, virtual reality and games are the best choice for people to escape to a new world for a break.
With the Decentraland team continuing to deliver updates and improve the game, a still-strong community behind it, and new life being pumped into crypto Gaming, MANA has caught the eyes of investors once again.
Due to the increased interest around the metaverse and virtual reality driven by new innovations in VR technology there’s a renewed excitement around VR Experiences.
Additionally, Decentraland’s ongoing updates and improvements to its platform have contributed to growing optimism and also the recent growth in the crypto market overall also plays a role. As investors look for new opportunities in the crypto space.
The weekly chart shows a strong bullish move, a classic breakout pattern, with higher lows and a breakout above the resistance.
The volume surges on the breakout indicate strong buying interest and investor confidence. The price has recently found support at $0.2250. Any pullback toward this level could be seen as a potential buying opportunity.
The next major resistance lies near $0.28, where the price previously faced challenges. A break above this level could signal continued upward movement towards $0.30.
In conclusion, MANA is showing strong bullish momentum. Key support levels are holding, and breaking through resistance could open the door for more upside. Investors should keep a close eye on these levels for potential opportunities, but remain cautious if the momentum starts to slow.