Will Meta Tokens Boom In The Anticipated 2023 Bull Run? Apecoin(Ape), Decentraland(MANA), Sandbox(SAND) Price Analysis

The crypto market’s recent recovery has hit a minor roadblock as increasing FUD (fear, uncertainty, and doubt) among market participants has caused some hesitation. However, a temporary consolidation period could potentially benefit buyers, allowing for a recovery of bullish momentum and extending the positive trend observed over the last couple of weeks. Today, we’ll analyze some of the top Metaverse cryptocurrencies showing promising price setups that suggest significant growth potential.

Apecoin(APE)

Source- Tradingview 

Over the past three weeks, the Apecoin price has been trading sideways and revealed the formation of a symmetrical triangle pattern. In theory, this continuation pattern offers a short break period before the prices continue the prior trend.

By press time, the APE price trades at $4.15 with an intraday gain of 3.5%. If the coin price breaks the pattern’s support trendline, the ongoing correction will extend and may revisit a 4-month low of $3.35 support.

On a contrary note, a possible breakout from the overhead trendline will signal an early sign of trend reversal. This breakout could raise Apecoin price to a $5 psychological barrier.

Decentraland(MANA)

Source- Tradingview 

The ongoing recovery rally in the Decentraland coin price takes a major halt at $0.642 resistance. With the increased uncertainty in the crypto market, the coin price witnessed a bearish pullback and plunged 12% to test $0.567 as potential support.

Today, the MANA price rebounded from this support zone with a 2.6% intraday gain and currently trades at the $0.59 mark. Thus, if the coin price shows sustainability above the $0.56 support it will indicate the traders are interested in buying at dips, which is a key trait of an established bull run.

With sustained buying, the coin price will rechallenge the $0.642 resistance to prolong its price rally to $0.85.

Also Read: Top Crypto Copy Trading Platforms For 2023

Sandbox(SAND)

Source- Tradingview 

Amid the ongoing uncertainty in the crypto market, the SAND price witnessed a minor correction phase over the last ten days. However, this bearish pullback revealed the formation of a pennant pattern in the 4-hour time frame chart.

This bullish continuation pattern triggers a significant bull run once the price breaches the overhead resistance trendline. By the press time, the SAND price trades at $0.639 with an intraday gain of 2.63%.

Thus, a potential breakout from the pattern’s resistance trendline could drive the SAND price 35% higher to reach $0.865 mark.