Decentraland Rally Strengthens as Data Confirms Bullish Momentum

Decentraland (MANA) continues to build on its recent gains, trading near $0.173 at the time of writing on Friday after rising more than 13% over the course of the week. Unlike many short-lived rallies, this move is supported by both derivatives and on-chain metrics, suggesting that the upside is being driven by real participation rather than thin liquidity. Rising Open Interest, growing network activity, and expanding trading volume all point to strengthening demand, while technical indicators show bulls firmly in control of momentum.

Derivatives data from CoinGlass shows that Decentraland’s futures Open Interest has climbed sharply to $33.49 million, up from $20.99 million just a week earlier. This marks the highest level since mid-October and indicates fresh capital entering the market. Rising Open Interest alongside price appreciation typically reflects new buying activity rather than traders closing positions, a combination that often fuels continued upside when momentum holds.

On-chain data reinforces this bullish picture. Santiment’s Daily Active Addresses metric shows a clear jump in network usage, with active addresses rising to 1,196 on Friday from just 562 earlier in the week. This is the highest level recorded since late December, signaling renewed engagement with the Decentraland ecosystem. Increasing address activity suggests growing demand for the network itself, which tends to support price strength over the short to medium term.

Trading volume across the MANA ecosystem tells a similar story. Aggregate volume surged to nearly $125 million earlier in the week, the highest level since October, before stabilizing around $90 million by Friday. Elevated and sustained volume reflects stronger liquidity and rising trader interest, reducing the likelihood that the rally is driven by isolated or speculative moves alone.

Technical Structure Points to Further Upside

From a technical perspective, MANA’s structure remains constructive. The price recently closed above the 50-day exponential moving average near $0.152, a key short-term trend signal, before encountering resistance at the 100-day EMA around $0.176. Throughout the week, price action has been consolidating between these two levels, and MANA is once again testing the 100-day EMA.

A daily close above $0.176 would be a notable technical confirmation and could open the path toward the 200-day EMA near $0.218. This level also aligns with the 50% Fibonacci retracement of the broader decline from September to October, making it a natural upside target if momentum continues. Momentum indicators support this scenario, with the Relative Strength Index holding at 65, well above neutral territory, and the MACD maintaining a bullish crossover that formed in late December.

That said, the bullish setup is not without risk. If momentum weakens and MANA fails to hold above its short-term support, a pullback toward the 50-day EMA near $0.152 remains possible. For now, however, the combination of rising participation, growing derivatives interest, and supportive technical signals suggests that bulls retain control, keeping the path of least resistance tilted to the upside.