- Summary:
- The Decentraland platform is slowly becoming a hub for Asian billionaires. This is despite the MANA token dropping by more than 45 percent
The Decentraland platform is slowly becoming a hub for Asian billionaires. This is despite the MANA token dropping by more than 45 per cent in April and 54 per cent since the year started. In today’s trading session, however, MANA prices are showing signs of a resurgence, with a 2 per cent price gain in the markets.
According to Forbes, some of these billionaires include Singaporean billionaire Kwek Leng Beng and Hong Kong Billionaire Lo Family. The billionaires have taken a particular interest in Decentraland’s virtual properties. According to reports, Millennium Hotels and Resorts, which Leng owns, announced they were launching a hotel in Decentraland. They also added that the virtual metaverse hotel would become a place to gather and discover the virtual reality universe in the metaverse platform.
Regal Hotels Group, which Lo Family owns, also expressed a similar vision by indicating they were developing a green metropolis in Sandbox, a platform similar to Decentraland. These investments and mainstreaming of the Decentraland platform are expected to have an impact on the prices of MANA. In addition, there is a high likelihood of an increase in userbase and trading volume. In most cases, this translates to growth in native cryptocurrencies, which can result in a MANA price surge in the future.
MANA Price Prediction
The price of MANA has recently broken a long-term support level of $1.71 to the downside. Looking at the daily chart below, we can see the prices have recently started trading sideways. This comes after the latest aggressive bearish move that saw the prices break below the support level.
The chart also shows that the Williams Alligator and the RSI indicators show a strong bearish move. Therefore, despite today’s bullish signals, my MANA price prediction expects the prices to resume the current long-term move to the downside. There is also a high likelihood that the prices will trade below $1.35, setting a new price low that has not been broken since October 30, 2021. The current price correction also looks likely to end soon, starting another aggressive bearish move.
MANA Daily Chart
