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  • What next for MANA as Decentraland price jumped 10% today?

    What next for MANA as Decentraland price jumped 10% today?

    • Decentraland (MANA) price rose more than 10% in the past 24 hours to trade near $0.54.
    • The metaverse-focused token is flashing bullish but faces some profit taking pressure as price currently hover above $0.50.
    • Recent activity and announcements are likely behind the token’s surge.

    The price of Decentraland (MANA) traded to highs near $0.54 today after surging more than 10% in the past 24 hours. The price of the metaverse-focused altcoin was changing hands around $0.50 at the time of writing amid some profit taking deals.

    Why Decentraland price soared today

    The spike in the spot price of the MANA token to its highest level in two weeks came as bulls extended the rally that began around 12 May when MANA/USD sprung from below $0.43. 

    The token’s upside did coincide with the overall bullish uptick across the crypto market as Bitcoin price rose from below $26,000 to retest resistance near $28k.

    Ethereum price also held impressively above $1,800 as the broader crypto market resumed a positive outlook. Among trending coins on Wednesday was XRP, which jumped on news Ripple had scored another bit of victory in its battle with the SEC.

    As for MANA price, the potential buy Decentraland demand over the past week came as the protocol revealed several upcoming developments. For instance, the platform announced a partnership for a gamified store with NFTLabs, and indicated it would host a metaverse party with popular DJ Dillion Francis on 19 May.

    MANA/USD: What next for Decentraland price?

    In terms of MANA price, the latest uptick suggests that investors could be taking on a new bullish outlook for the metaverse industry. The past few months have all been about the hot narrative of artificial intelligence powered tokens and meme coins.

    However, investors are seemingly unfazed by the setbacks around major tech company steps in the metaverse – particularly that of Mark Zuckerberg’s Meta. Despite this, the metaverse token space, led by the likes of Axie Infinity and The Sandbox, is showing some resurgence.

    If Decentraland continues to see growth amid the release of new features and user engagement, it’s likely its MANA price could claw back most of the losses seen since the crypto winter. The immediate price action might however see sellers eye prices’ recent support levels if prices break below $0.50.

    Decentraland MANA 4-hour price chart. Source: TradingView

    On the 4-hour chart, MANA/USD might rely on the key support zones at $0.47 and $0.43.

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  • This little-known altcoin has jumped by 50% in a week. Arweave token (AR/USD)

    This little-known altcoin has jumped by 50% in a week. Arweave token (AR/USD)

    Arweave (AR) cryptocurrency logo against a global background

    As digital assets continue to endure a crypto winter, Arweave is crafting a name for itself. The cryptocurrency nearly doubled in value in November. The monthly lows remain at $10, with the highest at $17.8 on November 3. Arweave’s token has fallen back to $10.8, and investors could be looking at it as a potential buy on the dip. Should you? 

    Arweave is a Decentralised Storage Network or DSN. It allows people needing extra computer storage solutions to connect with those with extra capacity. Arweave is unique in that it permits permanent storage for a single payment. That makes Arweave different from other blockchain-related storage solutions like Filecoin, which involve multiple payments.

    Arweave token (AR/USD) has been of interest to investors this month after impressive cryptocurrency news. Meta had announced that it would use Arweave to store its non-fungible tokens on its social media platform. That emphasises that big corporations see the opportunity offered by the blockchain platform. The question now is, can the token sustain the bullish momentum it started this month?

    AR on a retracement after the latest gains

    Source – TradingView

    Technically, AR met resistance at the $17.8 level. The zone is a long-term resistance that the cryptocurrency has retested severally in the past. The level is the swing high on the Fibonacci retracement, while the swing low is $8.4.

    From the daily chart above, the Fibonacci retracement levels are $10.681 (23.6%), $12.052(38.2%), $13.16(50%), and $14.27(61.8%). The token is testing the 23.6% Fib level. The MACD indicator is bullish, but momentum is waning. 

    Should you buy AR?

    While the latest price action is positive for AR, we remain cautious about sustainability. The $17.8 level remains a stumbling block for further upside. Coinciding with a weak crypto sector outlook, a sustained price recovery may be hard to register for AR.

    Should a bullish momentum remain for AR, we expect a retest of the $17.8 resistance. On the flip side, AR could next test the $10 support. Also, watch the Fib levels for potential price corrections.

    Where to buy AR

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy AR with Binance today

    KuCoin

    Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies.

    Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods.

    Users can benefit from a beginner-friendly interface and relatively low fees.


    Buy AR with KuCoin today

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