The MANA after getting a short pump has once again gone into side-way consolidation. It is interesting to see how the BTC run might affect the future of the MANA. I personally would take the perspective of Holder which prefer to see the price drop to an agreeable range for more entry opportunity. It seems we have very good support from the previous shoulder, however, I still think the bear is going to take over to push the price of MANA downward furthermore. The recent bust of Decentraland trading parcel on opensea has increased 65% and is currently ranked #14 in opensea. The reason why I mentioned this is when you go to the metaverse, there are 2 major things you need to take into consideration are cloud systems and gaming/application. As of now, people are busy buying and selling Decentraland parcels, which means not much MANA would need to be burned yet as the land are still sole in ETH and MANA token only being used to develop or buy items inside MANA metaverse. However, this bear trend is a good accumulation for new investors or people who want to enter if you missed or reinvesting. The reason is 6 months from now when MANA is actually being used and burned to develop on the parcel. Yes, that is right, I think in the current situation Decentraland is in its adoption stage before the tokens are actually being used for real purpose in the metaverse. So I drew 2 scenarios here, a bullish one is when people actually realize the usage of MANA and the power of MANA token in the metaverse; the bearish one is when the hype fades away and people put money without knowing what MANA and Decentraland are for and got their hand to burn hard. After those "to the moon" boys left and BTC run to 120K, the leftover is the true investors which are the backbone of the support lines here. This is not financial advice but merely my perspective, please be responsible with your own money!
Comment:
This morning one of the Caribbean islands Barbados made a territory on Decentraland and called it their ambassador. My friend, I think this would be an awkward moment that I think MANA is going to $10 within the next few months.
