Profit taking in the blue area

Decentraland (MANA), a leader in the world of virtual reality and blockchain gaming, is the focus of this analysis. We focus on MANA price prediction for the coming period with technical analysis from our premium environment

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Take advantage of the price drop on Decentraland (MANA).

Even though the price of MANA appears to be headed higher, analysts at Crypto Insiders see opportunities arising from a decline. She shared the following with all members in the Premium environment:

“Our analysis of MANA shows an interesting pattern on the charts. We see a 3-wave pattern in the form of an ABC Elliott wave. We are currently in the B wave, which in this case acts as an upward correction wave.

According to our estimates, the price of MANA is likely to move between the 100% and 123.6% Fibonacci levels, or between $0.5089 and $0.5329. At this point we plan to take a short position. We have drawn a red sell zone in this area as we expect the price to fall into the blue zone from here, which is between $0.3221 and $0.3737.

We want to take our profit in this blue zone. We expect a trend reversal and expect the price to rise again after reaching this zone.”

Date of analysis: January 28th. Link to trading view:

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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences. These therefore serve exclusively educational purposes.

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