Decentraland (MANA) is one of the top Metaverse tokens in the market. Its early investors have received a return on investment (ROI) that is over 4520%. This means that for each $1 initial investment, they have received over $45.20 as a gain.

Irrespective of the recent decline in the past months that led to a big dip in the worth of portfolios of Cryptocurrency investors, Decentraland has gained about 7.2% in the past 7 days. This could mean that it is on a part of a bullish run. At the time of writing, MANA is trading at $1.19 and is ranked in position 35th in CoinMarketCap.

<strong><em>Some of the data that shows that Decentraland could be on a part of a bullish run include:</em></strong>
<ul>
 	<li>Decrease in its trading volume</li>
 	<li>Increase in the number of indicators that give a buy signal</li>
</ul>
<h3><strong>Decrease in trading volume</strong></h3>
The direction of the volume of trade shows the trend the market might be taking soon. In the past 90 days, the trading volume of Decentraland has moved from $849 million to $375 million. This is from its statistical data between Feb 18th and May 17th. This represents a decrease in trading volume by 126.4%. This shows that Decentraland investors are holding for the long term. These fewer seller activities had also resulted in it's decrease in trading volume by about 24% in the past day.
<h3><strong>Increase in the number of indicators that give a buy signal</strong></h3>
Prior to the recent reversal in the price of MANA in the past few days, most of the indicators show a sell signal. However, from the technical analysis of oscillators indicators and moving average indicators in the link above, three of them are now showing a buy signal, while 9 and 14 show neutral and sell respectively. This increase might be indicating a possible bullish run for Decentraland soon.
<h2><strong>Conclusion</strong></h2>
With the possibility that the price of Decentraland could attain a double bottom soon, if the price plummets further, long term investment should expect a strong bullish run when its price gets to around $1.09.

Is Decentraland ( MANA) on the Part of Bullish Run?

Chukwuemeka Raphael is an author and cryptocurrency news writer/analyst. As a Mathematics graduate and trained analyst, he combines his Math knowledge and strong reading culture in contributing content and analysis for the development of cryptocurrency and blockchain space.

Is Decentraland ( MANA) on the Part of Bullish Run?

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