- The presale for FLSK has made MANA holders skip a beat.
- The trading volume reduces by more than 15% amounting to $57.29 million.
- It hosts many VR meetups to promote its platform.
The VR-based platform, Decentraland, is endangered due to the introduction of Flasko (FLSK), which is gaining overwhelming user attention in all the phases of its presale. People may think of switching to this new platform and deserting this token. Decentraland works on the P2E protocol, which directly connects to the Metaverse industry. Many industry enthusiasts, like Brandi Veil, are working on projects that can render the aged projects if not amended. This is high time for them to take corrective measures for this project to bloom and adapt to the new entrants. They schedule regular VR meets, but it may not be enough for the price to break the deadlock.
The diagrammatic session
The MANA price has been sloping down for a long time now. It consistently goes on making lower highs and breaching all prior support regions. The prices also lie flat as the further price action depends upon the new entrants, whether bulls or bears. Currently, the market is functioning for the bears who prevail. The RSI struggles hard to rise to the higher ranges but remains below 50 and moves sideways with a cyclic movement to the oversold zone as the selling pressure increases.
In the recent hours
Decentraland’s native token, MANA, shows signs of falling to the $0.30 price. This is because the price is about to form a steep downtrend if damage control isn’t applied now. The RSI slopes down to return to the neutral zone after touching the roof range. It may undergo a decent drop as the users think of liquidating the token and moving on to more contemporary projects.
Conclusion
The metaverse-based VR gaming platform, Decentraland, is facing crisis times as the marketplace provides users with varied and newer options to hop on and invest. This may create heavy selling pressure on the holders, who may react negatively to this signal.
Technical levels
Support levels: $0.3280 and $0.1905
Resistance levels: $0.7420 and $0.9295
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss
Source: https://www.thecoinrepublic.com/2022/12/01/even-a-log-is-enough-to-survive-from-drowning-mana-tries-to-survive/