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In this Elliott Wave video on Decentraland, we’ll dissect the current pullback unfolding in MANA/USD to identify where it fits within the larger uptrend from the 2022 lows. Ideal entry levels are highlighted based on the correction’s structure.
The metaverse crypto token has been undergoing a multi-wave retracement after the recent rally, which appears to be forming Wave 4 of a broader 5-wave impulse sequence. Applying Elliott Wave guidelines combined with technical analysis allows us to anticipate where this pullback could complete.
Fibonacci retracement levels are used to map out support areas and potential downside targets for Wave 4. The internal wave subdivisions and relationships provide further confluence for price inflections.
This comprehensive MANA wave guide prepares traders for the next move, whether the correction continues deeper or an impulsive Wave 5 rally resumes soon. Risk management principles are included.
Stay ahead of Decentraland by tracking this Elliott Wave analysis and price forecast. Join me to see if the pullback is completing or if more weakness lies ahead based on the developing pattern.
#MANAElliottWave #MetaverseAltcoins #FibonacciCryptoSupports #WaveTradingCrypto #AltcoinAnalysis
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