Decentraland (MANA) Shows Signs of Recovery After Long Bear Market

• 13 September 2025
• |
• 06:00

Decentraland (MANA), once a favorite of retail traders during the 2021 bull frenzy when it peaked above $5, has spent most of the bear cycle languishing near the bottom of the charts.

The token even dipped to $0.20 at its lowest point, reflecting the deep capitulation that swept through the metaverse sector.

Now, signs are emerging that MANA’s long period of weakness could be coming to an end. Research group Alphractal pointed out in a new analysis that speculative inflows are beginning to show up On-chain

One of the indicators catching attention is the Net Unrealized Profit/Loss (NUPL), which hit rock bottom earlier this year. Analysts see this as a potential marker of a cycle bottom. At the same time, MANA’s unrealized price sits near $0.67, more than double its current market value of roughly $0.32. That level is also flagged as a critical resistance point—if broken, it could trigger a stronger rally.

Additional on-chain metrics are also leaning bullish. The Realized Capital Impulse, which tracks short- and long-term capital rotation, is trending upward, suggesting speculative capital is returning. Likewise, the Delta Growth Rate has flipped positive, indicating that fresh Liquidity

Alphractal argued that these combined factors mirror the slow recovery phase seen between 2018 and 2020, when MANA spent years consolidating before breaking higher. While no breakout has yet occurred, the firm believes the current backdrop is increasingly supportive of a rebound.

If momentum continues building, MANA could be preparing to leave behind its lengthy Bear Market