Published 8 hours ago
In this article, we analyze the top metaverse tokens in the daily time frame chart to find bullish opportunities. Despite the ongoing downtrend in the crypto market, this below-mentioned coin has shown some favorable technical setups that may provide significant growth in 2023.
Apecoin(Apecoin)
Source- Tradingview
Under the influence of a resistance trendline, the Apecoin price has been falling for the past seven months, creating an established downtrend. The prices have reversed from this resistance trendline multiple times, indicating the sellers are aggressively selling at rallies.
Amid the ongoing uncertainty in the crypto market, the Apecoin wavering below a local resistance of $3.76. The coin price has been walking a sideways path for the past two weeks, indicating uncertainty in the crypto market.
Today, this meta coin trades at $3.69 with an intraday gain of 1.65%. However, this rising price may retest the combined resistance of the resistance trendline of $3.76.
Anyhow, a potential bullish breakout from this trendline will ignite a fresh recovery whose ideal target may reach $9.16.
Sandbox(SAND)
Source- Tradingview
The Sandbox coin is currently following a steady downfall in response to a falling parallel channel. Despite the recent volatile phase in the crypto market, the price action has respected this pattern for nearly six months and should provide its potential target.
However, amid the sideways movement in the majority of major coins, the sandbox coin seems weaker than the rest of the market, maintaining a constant downfall. Thus, if the selling pressure persists, this altcoin may retest the support trendline again to replenish the bullish momentum.
Thus, a potential bullish breakout from the pattern resistance trendline will encourage buyers to wrest trend control and extend a bullish rally to $1.5 in idea condition.
Decentraland coin(MANA)
Source- Tradingview
The ongoing downtrend in the Decentraland coin(MANA) price reached a new support zone of $0.295-0.29. This coin price currently trades for $0.3 with an intraday gain of 1.14%. However, the daily candle shows lower-price rejection at this $0.295 level indicating the prices are trying to sustain above the bottom support.
Moreover, the daily RSI indicator, which reflects the strength of recent price action, shows an upward movement. This bullish divergence indicates a high possibility of price reversal. Thus, with sustained buying, the $0.358 barrier.
In addition, this bullish reversal may bolster the formation of a double-bottom pattern, which encourages a bullish rally continuation to $0.425.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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