Will the Metaverse Show the Expected Movement?
Amidst the new year rally in the crypto market, Metaverse tokens showed a higher value than other markets. In addition, the persistent rally of many of the meta tokens has broken their critical resistance zone, which can provide long entry opportunities for interested traders. Today, we will examine some of the symbols of this group and their daily time charts.
In the last two months, the price of Apecoin has shown that a symmetrical triangle pattern has been formed. The two trend lines that have been in contact with the model have temporarily restrained the growth of this meta coin as the market as a whole struggles with uncertainty.
On January 5, the price of metaverse APE broke the resistance of the pattern, which indicates the release of the trapped bullish period. The stock is now trading at $4.68.
In addition, at today’s price, the price of Apecoin also broke the regional resistance at $4.57. This break prepares traders for another recovery in the price to $5.14, followed by $6.
Metaverse Decentraland (Mana)
In the recent new year in the crypto market, the Decentraland (MANA) token has seen a collection of directions in the last nine days. During the protest, the price of the token rose to the $2.9 mark and saw a growth of 38%. On the daily chart, the price shows a U-shaped recovery, indicating a gradual and continuous growth in momentum.
In addition, the price of MANA shows a high break against the regional resistance at $ 0.38 today, providing a high basis for buyers to promote further recovery. The next round of trading could prepare traders for a 6% rise to beat the $4.28 barrier. Either way, index holders should be wary of this month’s volatility as it could curb bullish growth.
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In response to improving metaverse market sentiment, the price of the Sandbox token showed a V-shaped recovery from the $0.38 support. So, in the last nine days, the price of the coin showed an improvement of 36% and made it to its current price of $0.52.
Also, SAND price is trying to break another vertical resistance of $0.53. Therefore, a daily candle closing above $0.53 can raise the price another 15-12% before reaching the bottom stop. This principle increases the continuous failure of the Metaverse Sandbox brand, and its stopping mechanism is a key selling point. Therefore, buyers looking for a permanent run should wait for the end of the program before entering the market.