The “Crypto Winter” has been a tough period for crypto investors, but this past week has seen one of the most dramatic rallies in recent memory. From January 1 to January 7, MANA grew by 10% from $0.0577 to $0.0632 – putting it at around 4th place on CoinMarketCap’s list of top cryptocurrencies alongside Bitcoin and Ethereum. The blockchain-powered digital gaming platform is now valued at over $100 million USD just 12 months after its ICO raised only 13 BTC goals
The “robinhood” is a cryptocurrency that has rallied by more than 10% in the past 24 hours. The “MANA” rally comes at a time when many other cryptocurrencies are struggling to maintain gains.
Due to the increased attention generated by Facebook’s foray into the metaverse universe, metaverse currencies have been surging in recent days.
MANA, the Decentraland ecosystem’s native currency, has been one of the best-performing currencies in recent days. Over the weekend, the token hit a new all-time high of $4.11, but it has since retreated significantly and is again trading around the $3.5 mark.
MANA is up about 10% against the US dollar at the time of writing, and if the trend continues, it might seek to reclaim its all-time high price of $4 in the next hours or days. MANA has risen in value, as have the other metaverse currencies, since Facebook stated over the weekend that it has renamed to Meta in an attempt to become a metaverse-focused firm.
The entry of a behemoth like Facebook into the metaverse did wonders for bitcoin startups already operating in the realm. As a consequence, MANA and other metaverse-focused currencies such as SAND have recently risen to new all-time highs.
Levels to keep an eye on
The MANA/USD 4-hour chart is quite positive, according to the token’s recent success. MANA’s MACD line is firmly in the positive zone, while its 14-day RSI of 64 indicates that the token is approaching oversold territory.
MANA is now selling at $3.24 a coin and might continue to rise in the coming days if it continues its present trend.
What to watch out for next
MANA may climb higher in the next hours, breaking above the $3.7 barrier level. To have a chance to soar higher during the following four hours, it would have to avoid the $3.2 pivot level. MANA might attempt to break above the second major resistance level at $4.00 if the larger cryptocurrency market continues to climb.
However, if the bears seize control of the market, MANA might go below $3 in the following several hours. MANA should easily hold above the $2.7 level unless there is a lengthy sell-off phase.
The “nasdaq hood” is a cryptocurrency that has rallied by more than 10% in the past 24 hours. The rally was caused by the news of the company being acquired by Nasdaq.
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