MANA - A Unique Virtual Reality Platform - Kakiforex.com - Financial Market Media No. 1 in the World MANA - A Unique Virtual Reality Platform MANA - A Unique Virtual Reality Platform
InstaForex

June 11, 2021

MANA - A Unique Virtual Reality Platform

 Decentraland is powered by the ‘blockchain’ Ethereum (ETH) which is a decentralized virtual reality world gaming platform founded by Ariel Meilich and Esteban Ordano who have extensive experience in the ‘cryptocurrency’ world.


In Decentraland, users can own their own ‘land’ in the virtual world. They can create, experience and control their content and applications. Its platform space known as LAND can be purchased using MANA (ERC20 token).


In that way, the owner will own the 'land' and have the right to control the environment, including developing their own applications.


Interesting to see on the MANA/USDT chart, the price movement has seen a jump of up to 2,000% this year from the price level of just $ 0.07 to the latest all -time high (ATH) at the $ 1.67 price level.


But the surge has returned to gloom as the NFT market faced a price correction that proved it was in a ‘bubble’. Not only that, the decline was also driven by the declining cryptocurrency market price.


At the end of the May market, the MANA price movement was slightly positive when it made a jump to test the SBR (support become resistance) level around the $ 1.0 price before declining again.


The MANA price movement moved slowly at the beginning of the June market for the price to trade around the $ 0.70 level which is still waiting for sentiment to move the price.



If the decline continues, it is likely that the $ 0.55 support level will remain the focus level that will be tested to re -support the rising price.


On the other hand if the price continues to make lower declines, the price is expected to head to the $ 0.30 price level and may reach a lower level.


However, if the price movement returns to the rise, the SBR level of $ 0.75 will be tested first before the price movement returns to the $ 1.0 level.


If the NFT market continues to gain dominance during the Non-Fungible Token (NFT) platform which will be officially launched at Binance on June 24, it is not impossible for MANA to also make a higher leap.


For a higher price spike, it is likely that the price will re -test the $ 1.20 resistance level before testing the $ 1.67 ATH level and subsequently will probably make the latest ATH level.


As of 11.00 am local time, the MANA price was slightly down around 1.35% for the price to trade below the $ 0.70 price level.