What is it?
Decentraland
Decentraland is an Ethereum-powered virtual reality platform. In this virtual world, you purchase plots of land that you can later traverse, build upon, and monetize. There’s no limit to what you can do. It’s the first digital platform that’s completely owned by its users. Similar to games like Skyrim and Fallout, Decentraland is an all-immersive virtual universe. However, instead of playing on a 2-dimensional screen, you participate in a 3-dimensional world. It seems to be the logical next step before creating full-blown AI-based games in the physical space à la Westworld.
MANA
MANA is Decentraland’s cryptocurrency token. It’s an ERC20 token that you use to purchase plots of LAND as well as pay for in-world goods and services. So, essentially, you wouldn't have Decentraland without MANA, and there would be no point in having MANA without Decentraland.
Let's Trade
Analysis
Below you will find a chart I've quickly produced for MANA/BTC pulled from the Binance exchange using Tradingview. This is a 1-Day chart. You can see that the previous All-Time High (ATH) served as resistance until just recently we've witnessed a break-out re-test take place. If this previous ATH holds as support, and we see some volume move in, this thing could be to the moon in no time. Below the chart you will find my "Entry", also known as my "buy-up-to", price, and also a "Stop-Loss" price. I will go into more detail on all of this information in a later post, but for now just know that my "stop-loss" is set mentally for several reasons. I do not have a physical stop loss entered into the order book. With that said, take a look below, and feel free to share any pertinent information or thoughts you have on the MANA/BTC trading pair!
Entry: up to 2000 satoshis
Stop Loss: 1750 satoshis (or a daily close below the previous ATH)
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. These are merely my opinions and you may take of them what you wish. My posts are meant to be for informative and entertainment purposes. My posts do not represent recommendations to buy or sell any cryptocurrency or investment holdings. I am simply documenting my trading journey as it happens in real time.
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