As the recovery run in the crypto market gains momentum, all the minor segments are making a comeback. Fueled by the additional momentum in the market, Meta and gaming tokens surge to new heights.
So, let’s have a look at the technical price charts of high-performing metaverse and gaming tokens for bullish openings.
With a triangle pattern in the daily chart, the SAND price action shows a quick reversal from the bottom support trendline. Forming a long-tail candle, the underlying demand propels the meta token back to the $0.26 level.
As per the Fibonacci level, a bullish breakout leading to a breakout run could pump the SAND price higher to the 50% level at $0.48.
Decentraland (MANA)
With a sideways trend in the weekly chart, the MANA price shows multiple bullish support at the $0.25 support level. With multiple bouncebacks from the demand cushion, the recent long-tail formation in the weekly candle teases a bull cycle.
Further, the weekly RSI line shows a bullish divergence in the last two dips at $0.25. Hence, the momentum indicator bolsters the chances of a bull run.
As per the Fibonacci levels, the uptrend in MANA price could aim for the 38.20% Fibonacci level at $0.45, a crucial supply zone.
Axie Infinity (AXS)
With a similar price action to other meta and gaming tokens, the AXS price shows a declining trend. The downfall in the Axie Infinity token forms a falling channel pattern, with the negative cycle hitting the support trendline.
However, the bullish recovery with a long-tail rejection candle leads to a 12.30% jump, forming an engulfing candle. The bullish trend influences a potential crossover in the MACD and signal lines.
Hence, an uptrend in the AXS token can result in a breakout run of the 50D EMA and the overhead trendline. The overhead target for the gaming token is $8.67 and $12.55.
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The bullish momentum in SAND is quite promising, especially with the reversal from the support trendline. A breakout to $0.48 based on Fibonacci levels could be a significant milestone for metaverse tokens.”
“MANA’s consistent support at $0.25, coupled with the bullish divergence in the RSI, hints at a potential upward trend. The $0.45 supply zone seems like a realistic target in the current market recovery.”
“Axie Infinity’s rebound with a 12.30% jump shows the potential for a strong breakout. If the MACD crossover holds, hitting targets like $8.67 or $12.55 could mark a solid recovery for AXS.
It’s exciting to see how the recovery in the crypto market is boosting SAND’s price. The triangle pattern and support at $0.26 suggest a solid bullish outlook moving forward.”
“The multiple bouncebacks from MANA’s $0.25 support level are encouraging. The recent long-tail candle formation might indicate that we are on the verge of a bull cycle.”
“The bullish divergence in the RSI for MANA reinforces the likelihood of a price increase. Aiming for the 38.20% Fibonacci level at $0.45 could be a crucial next step for this token.”
“AXS has shown resilience with its recent 12.30% jump, forming an engulfing candle. If the bullish trend continues, a breakout above the 50D EMA could propel the price further.”
“With the current momentum in the market, SAND’s potential rise to $0.48 is certainly a target to watch. The Fibonacci levels provide a solid framework for understanding the price action.”
“As the gaming and metaverse sectors gain traction, keeping an eye on these tokens is vital. Their recovery patterns indicate promising upside potential in the coming weeks.