Decentraland (MANAUSD) is almost on a +70% rise since yesterday’s Low, with the rebound coming on the 1W MA150 (red trend-line), which got hit for the first time in history. The fractal though resembles that of the mid April High both in terms of price action and 1D RSI .

That sequence rebounded on the 1D MA200 (orange trend-line) instead of the 1W MA150 but as it failed to break the 1D MA50 (blue trend-line), it eventually dropped to a Lower Low below the 1D MA200. The Fibonacci level below the 1W MA150 is the 0.236 at $0.5300. As a result we believe that until the 1D MA50 breaks, which was the bullish break-out point in 2021, MANAUSD remains bearish .

Notice how well those Fibonacci levels (extensions and retracements) have been accuratelly providing Resistance and Support levels these past 12 months.

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