Decentraland & The SandBox carry on with their bullish trend that began almost a month before. Both the NFT’s had a monstrous rally of more than 600% and 1000% respectively which appears to be unstoppable currently. The MANA price & SAND price seem to be in a race against each other aiming at a double-digit target somewhere in the Q1 of 2022.
Decentraland (MANA) Price May Hit $25
Decentraland emerged from a thin space and outperformed well-established NFT’s like Theta, Tezos, Enjin Coin, Chiliz, etc. MANA price after being calm for more than a couple of years got a major push during the bull run 2021. The price rose viciously to hit highs somewhere around $1.6.
The second bull run came out to be more aggressive and accumulated more than 600% gains within a month. Yet the rally is expected to continue with more strength in order to hit $10 very soon. However, the upcoming rally may also include a notable plunge again back to $3-$4 levels as per one of the analysts.
Despite the correction, the analyst is still bullish on the asset and expects a huge flip to higher levels. Considering the 2020 lows as the support for the FIB levels, the current price is hovering around 4.9 levels. The analysts believe the asset may range high to the next FIB level at 28 which lies around $25 to $32. Therefore, Decentraland is pretty bullish considering a longer and higher time frame.
The SandBox(SAND) Price Could Still Be A Good Buy!
The SandBox like MANA maintained a substantial upward trajectory since the beginning of 2021. However, the spike which hit the SAND price since the beginning of November was pretty unexpected. The asset’s bull run of more than 1000% caught everyone’s attention and hence the rally does not appear to face a pullback or correction until the end of the month.
The SAND price is $8.19 after smashing the new ATH at $8.32 with a jump of nearly 20% in the early hours of trade. Despite surging constantly for a week, the asset may get a little exhausted and hover around $5.5-$6. However, the pullback may be short-lived which will be overcome by a gigantic leap beyond $10.
Collectively, Decentraland & The SandBox are completely focusing on a huge upward trajectory, nullifying the possibilities of a pullback. However, the possibilities are still alive as the assets usually tend to exhaust after reaching some milestones. And hence despite minor corrections, MANA price & SAND price appear to be pre-programmed to smash a 2-digit figure soon.
Decentraland to move below $3 despite MANA recovery from flash-crash
- Decentraland price outperformed the broader crypto market during the Saturday flash-crash.
- Extreme overbought conditions remain, and a true correction remains likely.
- Extreme bearish divergences on the weekly chart point to a deep dive lower.
Decentraland price action, before the flash-crash, showed signs that it was slowing down and momentum was waning. However, because the flash-crash was due to NOS (Non-Organic Selling), the outlook for Decentraland has not changed.
Decentraland price to correct by 30%, flash-crash recovery not important
Decentraland price and the broader metaverse and gaming token sectors remain highly overbought. Parabolic is the name for it. A false sense of relief was probably felt by bulls after a spectacular recovery and positive daily close on Saturday was accomplished. However, that feeling may not last.
NOS (Non-Organic Selling) is a technical term to describe any price action that is done mainly due to resting buy and sell orders or, as is often the case in the cryptocurrency market, forced liquidations from leveraged positions in derivatives markets. The flash-crash on Saturday is a perfect example of what NOS looks like and what the expected recovery should look like.
There remains a massive discrepancy on the weekly Decentraland price candlestick chart and its oscillators. The Composite Index and the candlestick chart show no significant divergences over the long term. But between the Relative Strength Index and the Composite Index, a massive and drawn-out divergence does exist. That divergence is known as regular bearish divergence.
Regular bearish divergence occurs when higher highs are made on the candlestick chart, but lower highs are made in the Relative Strength Index. Regular bearish divergence is a warning that the current trend may face an imminent correction or broad trend change.
MANA/USDT Weekly Ichimoku Chart
The likelihood of this occurring is strong because of the extreme overbought conditions in the Relative Strength Index. Additionally, the slope of the Relative Strength Index, Composite Index, and %B have a slope that exceeds 45-degrees, generating a bearish ‘hook’ pattern. The projected zone for major support is near the $3.00 value area.
This near-term bearish outlook is invalidated if Decentraland price makes a new all-time high weekly close.
ETH, BUSD, and MANA Market Activity Dominates Crypto Space
- Top 10 crypto assets with a solid performance in the market.
- Altcoins surge market positions.
The crypto world is now back on its feet and shows no sign of slowing down. In fact, many altcoins are currently surging their position right now in the market. The performance of these crypto-assets contributes a lot to the recent uptrend position of the space.
These made LunarCrush Social Intelligence for Crypto, an organization that gathers crypto information, react in a tweet post:
Real-time Top 10 Coins by AltRank™ with leading social + market activity.$eth #ethereum$dexe #dexe$luna #terramoney $any #anyswap$usdt #tether$mana #decentraland$sfund #seedifyfund$req #requestnetwork$busd #binanceusd$mx #mxtokenhttps://t.co/wjRPiDJS9g pic.twitter.com/XQLOKLLW46— LunarCrush 🪐 Social Intelligence for Crypto (@LunarCRUSH) December 4, 2021
In the tweet post, LunarCrush Social Intelligence for Crypto provides the top 10 crypto assets that are doing a solid performance in the market. This solid performance includes the social and market activity of the virtual assets. The cryptos that are listed in the top ten list include Ethereum, Decentraland, and Binance USD, to name a few.
In terms of the latest trend in the crypto industry, the metaverse remains to be one of the most talked-about topics. Decentraland is one of the crypto assets that integrated its blockchain with metaverse technology. Through this, the activity in the Decentraland network keeps increasing along with the mass adoption of its tokens.
On the other hand, the king of crypto assets, Bitcoin, remains the favorite crypto of investors worldwide. As a result, Bitcoin keeps its position as the number one crypto in the market, with a huge market cap of almost $1 trillion.
Are Metaverse Projects Decentraland (MANA) And The Sandbox (SAND) Inevitable?
The metaverse industry is growing at an exponential rate than ever before. The foray of renowned players like Facebook, and the recent initiative by the makers of Shiba Inu. Are collectively nurturing the booming sector of virtual reality. Metaverse, although at the nascent stage, has been sprawling at an impeccable pace.
Wherefore, projects catering to the sector are exhibiting remarkable gains on the charts despite the market corrections. The digital assets have rebounded very well from the recent fall which cannot be overlooked. The Sandbox and Decentraland, have been receiving startling responses from consumers. The protocols have been strengthening the community while empowering the platform.
The Sandbox And Decentraland Bridging The World To The Future?
The embarkment of bigger firms into metaverse has been a major catalyst. Which has been fueling the propulsion of the existing projects in space. While critics foretold the events to fallout by contrast. However, the transaction volume of SAND has been on a constant rise. The transaction volume has risen up by 123.61% at over $6.8 B in the past 24-hours.
The Sandbox will be initiating the first public Alpha release today at 1 PM UTC. The last chance to be an Alpha pass holder ends at 10 AM UTC. Enthusiasts from The Sandbox community could expect an alliance of the firm with Adidas. As Adidas questions the views of its consumers, in response to The Sandbox asking Adidas for a collaboration.
Decentraland is also chugging ahead in the metaverse space. According to some sources, a yacht in Decentraland has been sold for $650,000. And a parcel of real estate is sold for 618,000 MANA, which tallies to $2.4 M. Decentraland’s metaverse circumscribes over 90,000 parcels of virtual land.
The Sandbox (SAND) Price
SAND price at press time is trading at $7.63 with profit-making gains of 25.8%. The market cap of the digital asset is hovering around $6,952,466,528. The digital coin has been trading along the frequency of price range from $6.06 to $7.87 since the previous day. The ATH of $8.40 was hit about 4-days ago, which can be reclaimed if the bulls manage to pull up the price above current levels.
Decentraland (MANA) Price
MANA at the time of writing is trading at $5.08 with gains of 9.9%, while the market cap is floating around $6,747,167,894. The trade volumes for around the clock are at $2,663,596,559. The digital asset has been trading in the bandwidth from $4.52 to $5.18 for the past 24-hours. The ATH of $5.85 was claimed about 4-days ago.
Collectively, the growth has been astonishing for the crypto industry. From the recent trends in the markets, we can expect projects like The Sandbox and Decentraland to evolve as flag bearers of the booming sector. With big players joining the industry, netizens have been anticipating a revolution to follow in the near future.