Decentraland (MANA) price attempted a recovery earlier this week with a 2.5% weekly gain. The all-significant exponential moving averages are holding above the current price of the MANA token. The MANA token belonging to the bitcoin pair is down 2.7% at 0.000003546 satoshis. Decentraland Token (MANA) is nearing its 2022 low. Currently, the bears are targeting a new 2022 low while managing costs below the $1.0 level. In mid-August, buyers witnessed a dramatic drop which dashed the expectations of the buyers, subsequently, they continued to receive rejection of the trend reversal.

The global crypto market has demonstrated a sharp bearish reversal with most altcoins including Decentraland (MANA) trading in red.

Described as the “first-ever virtual world” where users can buy plots of land and wearables as NFTs, Decentraland [MANA] kickstarted its Decentraland Metaverse Music Festival 2022 on 10 November. The 4-day virtual event would feature over 200 artists worldwide performing on over 15 unique virtual stages.

Decentraland is one of the largest metaverse projects in the crypto ecosystem, but its token MANA has been on a steady downtrend in recent weeks. After a brief foray beneath the $0.72 support, the price has rallied by an impressive 80%. However, this rally might be near its end, and rejection at a resistance zone could occur over the next day or two for the crypto asset.

What happened: Virtual land tokenized as an NFT just sold for $4,756, which is 2.22x the current floor price of 1.65 Ethereum ETH/USD -2.20% + Free Alerts ($4,756 USD). The collection consists of over 97,000 plots of land –– at the current moment each plot Land parcels are 16m x 16m, or 52 square feet. Land in Decentraland and The Sandbox skyrocketed after Facebook's rebrand to meta, as more investors become aware of what the metaverse is. Most of the time, virtual land sells at a premium due to the size of the lot and its proximity to the center of the metaverse.

Decentraland (MANA), the 47th-ranked coin by market cap, continued to move in proximity to its long-term support level. But with the market starting to look overheated, can MANA price ignite any hopes for HODLers?

Decentraland, the largest metaverse platform according to market cap, has just 379 daily active users. Where are users?

The Decentraland price today is $0.612942 USD with a 24-hour trading volume of $97,770,685 USD. Decentraland is up 2.93% in the last 24 hours. The trading volumes have increased slightly over the past day whereas the volume to market cap ratio stands at 0.08599 for the altcoin.

You can create your 3D avatar and explore a fully-programmable landscape that exists in the Metaverse. This is a great place to learn to code, build a community, or even meet new people. Projects such as Crypto Kitties, a virtual kitten game fueled by LAND, the digital asset that powers Decentraland, proved successful. By providing users the ability to create their digital objects and curate them in this shared online space, developers can turn their creations into revenue streams; Decentraland blockchain is currently being used as a platform for selling CryptoKitties kittens. Here are a few ways to use Decentraland (MANA) with your cryptocurrency portfolio.