• Decentralized price action is developing a bullish breakout setup despite the bearish market fallout from Russia’s invasion of Ukraine.
• The bulls are trying to hold MANA in a support zone to avoid further declines.
• Volatility is expected to remain extremely high, with dramatic ups and downs continuing.

Decentralized price action, like all financial markets today, is at the mercy of the volatility caused by Russia’s invasion of Ukraine. However, that hasn’t stopped the price action from developing a needed bullish reversal setup on its Point and Figure chart.

Decentralized Price Could Pull Crypto Market Out Of A Downtrend, Major Rally Likely If Buyers Enter

Decentraland price recently converted into a bull market on its $0.20/3 box reversal point and pattern chart when it hit $3.60. The current O column is the first pullback since converting to a bull market and is seen as a sign of strength, not weakness.

The long trade setup is a buy stop order at the three-box reversal of the current column O, currently at $3.20. The stop loss is a four-box stop (currently at $2.40) and the profit target, based on the vertical profit target method, is $6.60. A trailing stop of two to three boxes would help protect any implied profit trade entry.

The trade setup for Decentraland price is a 4.25:1 reward for risk with an implied profit target of 121% after entry. However, profit is rarely achieved in a single column. Instead, multiple smaller trades hitting profit targets at $3.80, $4.80, and $5.80 is a good strategy.

MANA/USDT $0.20/3 boxes Reversal Points and Numbers Chart

The trade setup is only invalidated if the Decentraland price moves to $1.20 or lower.