Despite a bearish sentiment spread across the whole crypto-verse. The Meta-industry has seen some great fundamental perks as more established companies are entering the metaverse. Moreover, due to the recent bloodbath, inventors can grab discounted offers in these metaverse tokens providing enormous growth potential.
MANA Bulls Challenge Major Technical Resistances For Bullish Breakout
The correction phase initiated during late November 2021 had tumbled the MANA/USD pair by 70% while dropping it to 0.789 Fibonacci retracement level. The MANA price has rebounded from the bottom support($1.75) due to strong demand pressure.
- The V-shaped recovery in MANA registered a 40% gain, pumping the token price to $2.51. The price action will soon challenge a shared resistance of 20-day EMA, 0.5 FIB level, and the long coming resistance trendline, indicating an ultimate test for bulls.
- A breakout or rejection from the overhead resistance would confirm the upcoming rally in MANA.
- The Relative strength index(46) shows a parabolic rally approaching the neutral zone(0.00), which projects the growing bullish momentum.
SAND/USD Chart Shows Rounding Bottom Pattern
The recent lower low($2.59) in SAND price shows a 65% fall from the All-Time High of $8.48. The bulls managed to defend the 200-day EMA support, indicating the overall trend is still bullish.
- A recovery rally initiated this week has gained 50% as the price currently trades at $3.93. The price action is at the doorstep of a combined resistance of $4 and 20 SMA, preparing for a bullish breakout.
- Moreover, the token chart shows a rounding bottom pattern in the 4-hour time frame, suggesting a better probability for a $4 breakout.
- The moving average convergence/divergence shows a bullish crossover of the MACD and signals line, providing additional confirmation for a recovery rally.
AXS Price Extends Correction Phase In Falling Channel Pattern
The AXS/USD technical chart shows a falling parallel channel pattern in the daily time frame chart. The price action respecting this pattern has lost 72% from the All-Time High of $165.6 by sliding to the $46.6 mark.
- The sellers marked a new lower low($46.6) at the support trendline, triggering a bullish pullback to the overhead resistance. Thus, until this pattern is intact the AXS price will remain in a bearish trend.
- On a contrary note, the bullish breakout from this falling channel could provide an excellent long opportunity to buyers.
- The ADX(32.8%) slope rallying higher indicates the increasing bearish momentum.
- Prominent Investment Officer Predicts More Downside For Bitcoin Price, Here’s Why
- Investors Move $141 Million Out Of Crypto: CoinShares Report
- Just In: S. Korea Police Seek To Guard LUNA Assets
- Incoming Shiba Inu Rally? Over 22 Billion SHIB Tokens Burned Across 497 Transactions
- French Luxury Brand Balenciaga To Accept Crypto Payments In U.S.
- PayPal May Soon Accept All Forms Of Crypto Reveals Vice-President
- Crypto Analyst Predicts What Will Kickstart Next Bitcoin Bull Run
- Just-In: South Korea May Sue Crypto Exchanges Over Terra Crash
- Breaking: S. Korean Exchanges Redflag Litecoin Mimblewimble Update; May Delist LTC
- Just-In: PlanB Reveals Bitcoin S2F Prediction For 2024 Halving
- What Next For The Fast Recovering FTM Price?
- Ethereum Price Analysis: Triangle Pattern Foretells Upcoming Rally in ETH
- Zilliqa Price Analysis: Channel Breakout Hints ZIL Price to hit $0.1
- Bitcoin Price Analysis: Trapped Bullish Momentum Need Triangle Breakout
- FTM Price Analysis: Buyers Tease Breakout From Long-Coming Trendline
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Solana Price Prediction 2022: Bulls to drive SOL Price to new Highs?
- Theta Price Prediction 2022 : Analysts Insights into the crucial Reversal levels
- Sandbox Price Prediction 2022 : Analysts Show Optimism Towards The Metaverse SAND Token
- Apecoin Price Prediction 2022 : The future of Web3 and NFTs ?