MANA - Impulsive Wave Finished

Decentraland´s MANA Token had a blast to the upside this year, gaining over 150%. But is it time to buy?

We have a valid wave count to consider that the impulsive wave is over. We also have RSI divergence, as indicated by the green line.

On the daily timeframe, RSI hit above 90 (extremely overbought), and price is being rejected at the junction of an important resistance level and a falling trendline.

As traders, we have to avoid FOMO and wait for the right conditions to enter a trade, and MANA is definitely not in that spot.

I´ll be waiting for a correction, first targeting 0.60 support, and possibly 0.50 (50% pullback).