Decentraland price hit the ATH level of $5.90 two days ago. However, the price of the metaverse coin project fell and failed to recover after the digital plot was sold to Tokens.com. Analysts expect the downtrend to reverse in Decentraland.
Analysts are optimistic about trend reversal in Decentraland price
Decentraland price reached the ATH level at $5.90 on the metaverse coin rally. The price of the token then plummeted and fell about 20% below the ATH level in two days. Ahead of the sharp price movements, Metaverse Group, a real estate company focused on digital real estate, announced that it has spent $2.43 million on virtual real estate in Decentraland. The firm paid twice the asking price for digital real estate.
Now, despite peaking with investor interest, the Decentraland price is not recovering from the decline. After gaining 40% over the past two weeks, the metaverse coin is struggling to make a comeback. On the other hand, Axie Infinity, a competitor from the blockchain gaming and metaverse ecosystem, witnessed a massive price increase after the sale of digital real estate. Those seeking new investment opportunities expected a similar turn of events in Decentraland; however, MANA is currently 20% off ATH.
Analysts share price predictions for metaverse coin
As for the forecasts, cryptocurrency analyst Ian Culley evaluated the Decentraland price trend and set a target of $8.8 for the next step:
MANA offers a potential entry with well-defined risk. If we see the final consolidation as a flag half lowered, we can aim for 8.80 in the next leg.
- cryptocoin.com On the other hand, Michaël van de Poppe, whose analysis we share with you, predicts that the MANA price may drop to $3.20 and offer opportunities for long-term transactions. The analyst advises to look for scalping opportunities and waits for Decentraland price to recover.
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