Decentraland (MANA) Surges to Two-Month High as Bullish Momentum Builds
Decentraland’s MANA Token Climbs 10% in 24 Hours, Reaching Highest Price Since February
Decentraland (MANA), the native token powering the popular metaverse platform, has surged over 10% in the last 24 hours, reaching a two-month high of $0.31. This impressive upswing positions MANA as one of the best-performing crypto assets of the day, with key indicators suggesting that bullish momentum may continue in the near term.
The recent rally reflects growing investor interest in metaverse-related tokens, as well as broader optimism across the altcoin market. Analysts point to a mix of technical and sentiment-driven factors fueling MANA’s climb.
Demand Indicators Signal Strong Bullish Sentiment
One of the clearest indicators of rising investor demand is MANA’s on-balance volume (OBV), which currently stands at 9.47 billion—the highest level since December 2024. This metric, which aggregates trading volume based on price direction, is often used to gauge underlying market strength. A rising OBV alongside price typically signals that buying pressure is strong and supportive of the uptrend.
In addition, MANA’s price is trading well above its 20-day exponential moving average (EMA), currently around $0.26. This short-term trendline is often used to assess the asset's momentum. A price position above the EMA suggests that bullish sentiment is outpacing recent averages—reinforcing the view that buyers are currently in control.
Technical Support from Ascending Trend Line
Further bolstering the bullish case, MANA is trading above an ascending trend line on the daily chart. This formation is characterized by higher lows and typically represents sustained upward momentum. It serves as dynamic support and indicates that the market has continued to favor accumulation during price dips.
If the current trend holds, analysts suggest MANA could break through resistance at $0.34. A successful push past that level could open the door for a move toward $0.44—roughly a 41% increase from current prices.
However, the outlook is not without risk. A sharp wave of profit-taking or a shift in broader market sentiment could reverse MANA’s gains. Should this occur, the token may retreat to $0.19, a drop of nearly 40% from current levels.