Will Metaverse Coins Make a Comeback In June 2023?; $MANA, $SAND, $AXS Price Analysis

05 Jun, 2023

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Decoupling from the broader market sentiment, the Metaverse coin has experienced significant growth for nearly two weeks. These meta coins on a recovery streak are gradually reclaiming higher ground, offering traders the opportunity to take long entries. Therefore, if the market conditions improve as well, interested traders can bet on these coins for even further price rallies.

Also Read: Bitcoin, Crypto Under Selloff Pressure As US Treasury Dept Start Issuing T-Bills

Decentraland (MANA) Price Analysis: Set for Higher Recovery

Source: Tradingview

With an intraday gain of 4.3%, the Decentraland (MANA) price has given a bullish breakout from a horizontal resistance level of $0.516. If the daily candle closes above the mentioned resistance, the buyers will obtain a suitable launchpad to climb higher on the price chart.

The potential rally could surge the price by nearly 12% to poke the long-coming resistance trendline near $0.6. This descending trendline has been carrying the ongoing downtrend in the MANA price, and potential buyers could wait for its breakout to ride a sustained bull run.

Sandbox (SAND) Price Analysis: Edging Toward Breakout

Source: Tradingview

Over the past eleven months, the Sandbox price has witnessed a steady downtrend under the influence of a falling trendline. The multiple reversals from this trendline indicate that traders face high supply pressure at this dynamic resistance.

Currently, the SAND price is trading at $0.606 and is approaching the overhead trendline. A bullish breakout from this trendline will signal a trend reversal and drive the coin price above the $1 mark.

Axie Infinity (AXS) Price Analysis: Bullish Pattern on the Daily Chart

Source: Tradingview

A falling wedge pattern governs the ongoing correction in Axie Infinity’s price. Over the past four periods, the coin price has been steadily falling under the influence of this pattern, preventing buyers from retaining trend control.

By press time, the AXS price is currently trading at $7.35, and with an intraday gain, it is steadily approaching the resistance trendline of the pattern. A successful flip above this resistance will recuperate the bullish momentum and may kickstart a new recovery rally.

A breakout above the trendline could push the coin price to a potential target of $8.45, followed by $9.65, $11.6, and $14.