Decentraland Eyes Rally Ahead of Metaverse Fashion Week


Key Takeaways

Decentraland’s first Metaverse Fashion Week commences tomorrow.
Renowned fashion brands like Dolce & Gabbana and Tommy Hilfiger are participating. 
MANA looks poised to benefit from the increased hype surrounding Decentraland.

Share this article

Decentraland’s MANA token appears to be building bullish momentum for a potential breakout in the lead-up to its Metaverse Fashion Week event. 

Decentraland Hosts Metaverse Fashion Week

MANA could be gearing up for a significant bullish impulse as Decentraland prepares to host its first Metaverse Fashion Week event. 

Starting tomorrow, Decentraland will host a four-day virtual catwalk featuring multiple runway shows, afterparties, and pop-up shops. The event will occur in Decentraland’s Luxury Fashion District and is set to feature a host of big names from the fashion world, including Dolce & Gabbana, Tommy Hilfiger, Dundas, and Etro. Several digital fashion brands, including the Fabricant, will virtually showcase their new collections. 

“Through [Metaverse Fashion Week], we endeavor to broaden the horizon of what “Metaverse” means. We just leveled up the playing field for the world of fashion and decreased the limitations. Even in the Metaverse, you’ll be needing a “fit”,” Decentraland Foundation’s Creative Director Sam Hamilton said in a press release.

The first-of-its-kind event has brought a significant amount of attention to Decentraland. It comes after a recent Gartner report estimated that 25% of the world’s population would spend at least one hour per day in the Metaverse by 2026. Although MANA has not reacted yet to the news, it could be positioning itself for a bullish breakout. 

MANA Poised to Break Out

The Metaverse token appears to be developing a head-and-shoulders pattern on its four-hour chart. A decisive close above the technical formation’s neckline at $2.52 could result in a 12% upswing toward $2.88. The optimistic target derives from the distance between the pattern’s neck and head. 

Source: TradingView

It is worth noting that MANA must continue to trade above the $2.35 support level for the optimistic outlook to prevail. Any signs of weakness around this price point could encourage traders to exit their positions. Under such circumstances, MANA could retrace to $2.20. 

Disclosure: At the time of writing, the author of this piece owned BTC and ETH.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

What is Rarible: A DAO for NFTs

What was once dismissed as a silly and expensive sector, NFTs give creators access to global markets in a way that’s never been possible before, and it’s all thanks to blockchain.Those familiar…

What Can You Do in Decentraland’s Metaverse?

Join Crypto Briefing as we explore the events, games, and attractions bringing players into the virtual world of Decentraland.  What Is Decentraland?  Decentraland is a 3D virtual world owned by…

Samsung Opens Virtual Store in Decentraland’s Metaverse

Electronics giant Samsung is opening its first virtual store in Decentraland, a blockchain-powered Metaverse world. Samsung Enters The Metaverse Samsung is expanding its presence to the virtual world. The electronics…

What Is Decentraland?  Introduction to LAND and MANA Token

What Is Decentraland? Decentraland is a blockchain-based virtual reality platform built on the Ethereum ( $3,852.46 ) blockchain. Like Minecraft or Second Life, there’s no real objective in Decentraland. Instead, users traverse a…



Source

Recommended For You

About the Author: wp4crypto