#MANA Correction is Almost Concluded | Will we see a Reversal?
Yello Paradisers! Are you keeping an eye on #MANAUSDT or not? If not, you might want to start now because #Decentraland is showing some textbook Elliott Wave patterns that could signal either a massive breakout or a steep drop:
💎#MANA has completed a classic 5-wave Elliott structure, peaking at Wave 5 near the $0.90 area. This was followed by an ABC corrective wave, pulling #MANA back down into the descending channel. Right now, #MANA is hovering around $0.3229, consolidating just above the strong support at $0.2531.
💎For bulls to regain control, #MANAUSD must break above the descending resistance, currently near $0.5197. A clean breakout here would likely trigger an impulsive rally, pushing towards the major resistance zone between $0.80 - $0.90—the same level as the previous Wave 5 high. But don’t get ahead of yourself. Without this breakout, the bulls remain on shaky ground.
💎On the downside, if #MANA closes below the $0.2531 support, the next critical level is the broader support zone at $0.1691. A close below this would invalidate the bullish setup and open the door for further downside, potentially dragging #MANA towards $0.10 or lower. The SH (swing low) highlighted on the chart would be the next key area to watch if the bearish scenario plays out.
Stay focused, patient, and disciplined, Paradisers🥂
MyCryptoParadise
iFeel the success🌴
💎#MANA has completed a classic 5-wave Elliott structure, peaking at Wave 5 near the $0.90 area. This was followed by an ABC corrective wave, pulling #MANA back down into the descending channel. Right now, #MANA is hovering around $0.3229, consolidating just above the strong support at $0.2531.
💎For bulls to regain control, #MANAUSD must break above the descending resistance, currently near $0.5197. A clean breakout here would likely trigger an impulsive rally, pushing towards the major resistance zone between $0.80 - $0.90—the same level as the previous Wave 5 high. But don’t get ahead of yourself. Without this breakout, the bulls remain on shaky ground.
💎On the downside, if #MANA closes below the $0.2531 support, the next critical level is the broader support zone at $0.1691. A close below this would invalidate the bullish setup and open the door for further downside, potentially dragging #MANA towards $0.10 or lower. The SH (swing low) highlighted on the chart would be the next key area to watch if the bearish scenario plays out.
Stay focused, patient, and disciplined, Paradisers🥂
MyCryptoParadise
iFeel the success🌴
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Do you Want to start trading like a PRO?
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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.