The cryptocurrency Decentraland (MANA) is currently trading at $0.2769 with a decline of 6.48%. The price action follows a critical Elliott Wave setup, indicating that MANA is in the fourth wave of a five-wave cycle. The chart suggests a potential long-term move towards the $74.50 region. MANA experienced a significant increase of 1,436% during wave three, reaching a peak near $5.90. Traders are now questioning whether MANA can maintain its structure or if further consolidation is likely. The price history of MANA shows a strong rally from below $0.10 in 2020 to almost $6.00 in 2021. The current fourth wave has led to a long consolidation phase between $0.25 and $0.60. Based on historic Fibonacci projections, the next wave, wave five, could potentially take MANA beyond $74. The market sentiment towards MANA is divided, with mixed opinions on its future due to the slow pace of adopting metaverse-related projects and past disappointments in the sector. The Fibonacci levels on the chart suggest that breaking above $1.89 would be the first step towards regaining bullish momentum. However, failure to hold above $0.25 might invalidate the structure and lead to further downside. Immediate resistance for MANA lies within $0.60, and a push beyond this level could trigger acceleration towards $1.29. On the other hand, a loss below $0.25 would indicate weakness and potentially result in retesting lower regions before recovery. The future move of MANA depends on whether buyers can maintain its long-term wave structure and the market conditions surrounding the broader metaverse sector.



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