Can Decentraland’s [MANA] stellar brand collaborations trigger its dying uptrend
Decentraland, although is better known for its metaverse capabilities, is also a preferred investment from crypto token holders. But the last couple of weeks during which the market seemed to be marking rallies, MANA, despite rising by 21.11%, already pumped the brakes and activated its reverse gears. But the recent ecosystem developments might change things for good.
As the metaverse hype around the world continues to grow, one can expect more and more mainstream companies to adopt it and take advantage of the ensuing excitement. Both Samsung and Amazon did the same this week.
For the launch of the OnePlus’s new phone, Amazon India established a metaverse event on Decentraland, where the phone was set to be unboxed.
Although the interest in the metaverse is still growing in India, such strategies from a major marketplace would certainly further that.
Secondly, after launching its virtual world 837X in Decentraland this January, Samsung held an event a few days ago, showcasing its upcoming home entertainment innovation lineup and enabling visitors to design their own NFT art.
But while the bullishness hit the market for a short while, it disappeared soon after, and MANA is back to trade at $2.67, stuck within the four months long consolidation zone between $3.51 and $2.41.
Making things further worse for the altcoin is the active downtrend that took charge of the MANA market four days ago. But it may not pick up the pace since the broader market cues are quick to influence a trend change.
This is why, since February, not once has the Average Directional Index (ADX) crossed the 25.0 threshold to give strength to the active trend.
Decentraland price action | Source: TradingView – AMBCrypto
Should the coin be able to test the
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