An analyst predicts a rise for the metaverse coin Decentraland (MANA), which has recently come to the fore with its partnership with South Korea-based famous technology firm Samsung. The analyst also draws attention to the future plans of Decentraland, one of the pioneering metaverse projects, and shares his price expectations. As Kriptokoin.com, we convey the details and expected levels…
Major developments took place in Decentraland (MANA)
In the last months of 2021, the worldwide metaverse movement has intensified, with Facebook changing its name to Meta and the company’s announcement that it will now work in this area. This was also seen in the cryptocurrency space, with metaverse-focused coins rising one after another. One of them was Ethereum-based Decentraland, which allows users to create, experience and monetize content and applications.
Decentraland has been on the agenda with various partnership and integration news since then. The project recently announced its collaboration with Samsung. Samsung has created a blockchain-based virtual space called 837X. Being part of 837X will require connectivity via Decentraland. On Samsung’s platform, users will be able to buy and sell land NFTs, wearables, and more.
Increasing expectations in metaverse coin price outweigh
Ashish Kumar, an analyst, looks at technical analysis as well as major developments in MANA. According to Kumar, the bulls in the altcoin managed to break an important resistance of $ 2.9, the 50-day moving average. This is considered by buyers to signal the beginning of a recovery rally. According to the analyst, if the coin stays above this resistance, the price could rise as high as $3.43 or $3.9. Currently, MANA is trading at $3.11.
Continuing to gain momentum with the increasing interest in Metaverse, Decentraland has become the platform of choice for many organizations to open a virtual store. Apart from Samsung integration, technology giant Microsoft invested $69 million to assist the development of Decentraland. In addition, the metaverse will hold a 4-day Metaverse Fashion Week on March 24, 2022. More than one famous brand will take part in this event.
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