Decentraland a.k.a. MANAUSD May Have Formed A Bullish Setup

29 May

Decentraland with ticker MANAUSD may have formed a nice textbook bullish setup formation. We see a five-wave rally into wave A/1 from the lows, followed by an a-b-c correction in wave B/2 right into the former wave "iv" and 61,8% Fibo. support area. So, it can lift the price higher within wave C or 3 towards 1.0 area for wave C or maybe even higher for wave 3.

We can actually already see it breaking above channel resistance line, but to confirm that wave C or 3 is in play, we need to see a recovery back above 0.55 region.