The Monavale (MONA) cryptocurrency has surged over 55% since the beginning of 2022, rising from a closing price of $717.55 on 1 January to $1,112.49 at close on 12 July. Although this was still 81.39% lower than its all-time high of $5,980.87 on 16 November 2021.
The price of MONA has been largely influenced in recent months by news about the Creative Commons (CC0) decentralised autonomous organisation (DAO) membership non-fungible tokens (NFTs).
Users will be allowed to join the CC0 DAO by purchasing a membership NFT from the DIGITALAX platform or other sale events, or even through contributions to the DAO via a CC0 NFT auction.
What lies ahead for the MONA token’s price for the rest of the year and in the long term? In this article we take a closer look at the blockchain and analysts’ Monavale price predictions.
What is Monavale (MONA)?
Monavale is a token hosted on the Ethereum blockchain network. MONA is the native ERC-20 and governance token for DIGITALAX, a leading indie fashion NFT platform.
Monavale is incorporated throughout the protocol’s architecture, which serves to further boost utility and application in the player-creator economy. It brings together interdependence between developers, designers and players.
As of 14 July, according to coinmarketcap, MONA had a fully diluted market capitalisation of $12.5m. MONA can be purchased on the Coinbase Exchange, Uniswap (V2) and Bancor Network.
Technical overview: Will the MONA token move higher?
According to CoinCodex, the MONA price sentiment, as of 14 July, was neutral. However, the fear and greed index showed ‘extreme fear’ at a reading of 18. A short-term Monavale coin price prediction had the price falling over 7% to $1,041.95 by 18 July.
Volatility of the token, which takes into account the 30-day variation in price, was 60%.
Of technical analysis indicators, there were 16 signalled bullish signals and nine were bearish.
The weekly 50-day simple moving average (MA) indicated ‘buy’ at $ 414.69. Meanwhile, the moving average convergence divergence (MACD) (12, 26) was ‘neutral’ at 3.05.
The Relative Strength Index (RSI) also pointed to ‘neutral’ at 65.56. An RSI reading of 30 or below indicates that a security is underbought or undervalued. Values above 70 indicate that an asset could be overbought.
Also pointing towards ‘neutral’, the Commodity Channel Index (CCI) (20) was at 66.67. The CCI is a momentum-based oscillator used to establish when an asset’s price is reaching overbought or oversold territory.
The Monavale token price’s classical pivot point was $1,148.14, with support levels at $1,026.06 and $943.25. The strongest support level was at $ 821.16. The token’s resistance levels were at 1,230.95, $ 1,353.04 and $ 1,435.85.
The MONA price was most positively correlated with the price of Quant (QNT), Serum (SRM), Chain (XCN), Compound (COMP) and ECOMI (OMI). It was most negatively correlated with the price of Huobi Token (HT), Tenset (10SET), The Sandbox (SAND), Basic Attention Token (BAT) and eCash (XEC) over the past seven days from the time of writing, as of 14 July.
Monavale price prediction: 2022 to 2025
As of 13 July, algorithm-based forecaster Wallet Investor did not offer an optimistic outlook for the Monavale price. The service’s average Monavale price prediction for 2022 was $938.561 by the end of the year, $564.145 in 2023 and $183.572 in 2024. The Monavale price prediction for 2025 predicted an average price of $175.547 by the end of that year.
DigitalCoinPrice had a more bullish Monavale crypto price prediction from 2022 to 2031. The forecaster’s MONA price prediction for 2022 had the average price at $1,448.84, $1,651.72 in 2023 and $1,647.50 in 2024. In its even longer-term forecast the MONA price prediction for 2030 was $5,067.32 and $5,697.28 for 2031.
When studying Monavale price predictions, investors must remember that the cryptocurrency market is extremely volatile. Forecasts are based on inferences drawn from past performance by analysts and can be wrong.
Only you can decide if Monavale is an investment option for you. Always take into account a coin’s collaborations, news, partnership deals and fundamentals before making investment plans. And never invest money that you cannot afford to lose.
FAQs
Is Monavale a good investment?
Whether Monavale is a good investment for you or not will depend on your portfolio composition, investment goals and risk profile, among other factors. Different trading strategies will suit different investment goals with short or long-term focus. You should do your own research. And never invest money you cannot afford to lose.
Will Monavale go up or down?
It’s impossible to say for sure. Although the crypto has been experiencing a bullish run, as of 13 July, forecasts on the future of the token were divided.
Wallet Investor had a negative outlook for the crypto asset over the next 12 months, while DigitalCoinPrice was more optimistic, with the forecaster’s MONA price prediction for 2022 having the average price at $1,448.84, $1,651.72 in 2023 and $1,647.50 in 2024
Should I invest in Monavale?
Only you can decide if Monavale is the right investment for you. You should consider the token’s collaborations and fundamentals, and remember that the crypto market is volatile. Forecasts are based on inferences drawn from the past performance by analyst’s and may go wrong, due to market gyrations, change in policies and unknown parameters.
You should do research and base your decision to buy cryptocurrencies on their attitude to take a risk. Taking into account how comfortable you are about losing money. And never invest money that you cannot afford to lose.
Further reading:
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