With the recent sell-off, Decentraland's MANA reached its lowest level since early August of last year. The selling pressure should now intensify further to push the price down to the anticipated new bear market low of the green corrective wave [2]. From there, the next magenta five-wave upward sequence is expected to begin and finally break through both resistance levels at $0.59 and $0.85 during wave [iii]. However, according to our 33% probable alternative scenario, the price could reverse upward now and directly start the impulse wave alt.[iii]. In this case, the precursor wave alt.[ii] of the same color would conclude at the current price level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.