MANA eyes 21% gains thanks to the world’s largest event for the art and science of game making

• Decentraland price is on a 10-day uptrend as it moves diagonally along an ascending trendline.
• MANA could ascend 21.68% from the current price to tag the $0.7330 resistance level last tested on February 21.
• The bullish thesis could be invalidated if the gaming token drops below the uptrend line at $0.6015.

Decentraland price (MANA) has been on an uptrend for 10 consecutive days, moving above an ascending trendline as investors raked in more profits. The uptrend came as investors made a countdown to the 2023 Game Developers Conference (GDC), touted as the 37th edition of the world’s largest event for professionals dedicated to the art and science of making games.

The GDC, held at the San Francisco Moscone Convention Center, is a week-long conference with over 330 exhibitors, 1,000 speakers and more than 650 sessions, workshops, roundtable discussions and networking events. The agenda constitutes deep dives into specific game development disciplines or markets to promote learning and collaboration among specific communities. 

MANA targets a 21.68% ascent

Decentraland price is up 23.61% from a low of $0.4828 recorded on March 10. The price action during the 10 days has seen MANA record higher highs and higher lows moving diagonally along an uptrend line. At the time of writing, the gaming token was exchanging hands for $0.6019.

An increase in buying pressure from the said level could see Decentraland price shatter the immediate obstacle presented by the 100-day Exponential Moving Average (EMA) at $0.6051 before confronting the 50-day EMA at $0.6165.

If buyer momentum is still intact past this level, potentially fueled by recognition and celebrations of the industry’s top games and developers at the GDC, Decentraland price could skyrocket to tag the $0.6738 resistance level within the next three days of the event, which ends on March 24.

Flipping this buyer congestion zone into support could pave the way for the Decentraland price to confront the 200-day EMA at $0.6861 before facing the $0.7330 resistance level. Such a move would denote a 21.68% increase from prevailing rates.

In highly ambitious cases, the Decentraland price could tag the $0.8183 resistance level, which would signify a 35.91% increase from current levels.

MANA/USDT 1-day chart

Conversely, if sellers take charge, the Decentraland price could descend below the support provided by the ascending trendline at $0.6015, exposing the gaming token to a cliff that could see the MANA drop 17.33% to the $0.4959 support level.

 

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