Decentraland is a token based on Ethereum and is used for various purposes such as purchasing, creating and monetizing content. It has 2 tokens MANA which is and ERC-20 token which is used to buy NON Fungible ERC721 tokens. So to be short and precise we can say Decentraland is an NFT token and you can also play games in Decentraland.
Characteristics
It has a total supply of 2,194,309,127 and 1.5Billion are in circulation. It has a current capitalization of $1,146,015,308 and 1 token is trading at $0.725
Technical Analysis
The picture above shows how MANA has been performing, around March it was trading around $0.2 and the markets were bullish and it managed to push up and has an all time high of $1.63 which it set 2 months ago and now its down to $0.72.
The price it trading above the support zone of $0.63 and its trying to break the trendline which is acting as the resistance level and if it manages to break above and retest that zone then it will be going for the resistance at $1.If it manages to break above we will be looking forward for it to trade above $1.2.
