MANA makes a new ATH following the largest metaverse land sale

MANA

The Decentraland token (MANA) has made a new all-time high at $5.48 with the largest metaverse land sale, priced at 618,000 MANA or $2,428,740.0 USD at the time of the sale.

While rival metaverse tokens also continue to rally, Decentraland token rises above them all. On the whole, metaverse tokens continue to make new highs.

As of 2:30 AM GMT, the MANA token is priced at $4.91, which is an 11.03% low from its all-time high.

The data from CoinMarketCap shows a 174.06% change in the trading volume, which currently rests at $9.4 billion. On the other hand, the token’s market capitalization also rose by 16.94%, ranking the token at 24 in the market.

MANA opened the day at $5.16 and reached a high of $5.19, followed by the lowest price of $4.6. This indicates that the current daily candle is down by nearly 6% from the previous day.

According to the data provided by CoinGecko, the Decentraland token rose by 503.7% in the last 30 days, followed by 97.0% in the last 14 days. Furthermore, the website also tracks that MANA rose 44.2% in the past seven days.

MANA price analysis on the daily chart

In the price chart below, it is clear that the bulls still influence the price momentum. The RSI levels are still in the overbought zones, i.e., above 60. The gradient, however, is negative and indicates a surge in selling pressure as traders take profit.

The MACD indicator shows that the MACD line is continuing above the signal line (orange), which means that the bulls are still in control. As a result, the MACD histogram is also full of green bars.

MANA price analysis
MANA price chart by TradingView

The chart below paints a bullish picture as the prices broke out from the upper end of the Bollinger Bands and are currently in the same region. This indicates that the buyers are winning in a longer time frame.

On the other hand, the 50-day and 100-day Moving Averages continue to progress below the price fractal, which means that the prices are high as compared to previous days, and bulls are in charge.

MANA price analysis
MANA price chart by TradingView

Decentraland’s domination continues, and Grayscale’s high stakes in the cryptocurrency are finally paying off. The metaverse industry has come to the forefront of blockchain technology with a promising future.

The first country to adopt Bitcoin as legal tender recently entered the metaverse as citizens can now purchase virtual land NFTs in El Salvador.