This article features metaverse coins that offer bullish opportunities on the daily timeframe. Despite the continued decline in the crypto market, the following metaverse coins are showing some positive technical signals that will see significant growth in 2023.
Metaverse coins to follow in 2023
Apecoin price has been falling for the past seven months under the influence of the resistance trendline stretching to May. Meanwhile, an established descending trendline has been recorded. Multiple reversals of prices from this resistance trendline indicate that sellers are selling aggressively in rallies. Apecoin price is also trading below the $3.76 resistance in this environment. Also, it has been on a horizontal path for the past two weeks. This shows the uncertainty in the crypto market. As a result, a possible rise from the trendline will ignite a new recovery with the ideal target of $9.16, according to analyst Brian Bollinger.
Sandbox is currently following a steady decline in response to a falling parallel channel. Despite the recent volatile phase in the crypto market, price action has been following this pattern for about six months. However, SAND was weaker than the rest of the market, maintaining a steady decline. Therefore, if the selling pressure continues, there is a possibility of retesting the support trendline to renew the bullish momentum.
All in all, a potential bullish breakout from the formation resistance trendline will encourage buyers to take control of the trend and extend the bullish rally to $1.5 in idea condition.
The ongoing downtrend in Decentraland (MANA) price has reached a new support zone of $0.295-0.29. MANA is currently trading slightly higher at $0.3. However, the daily candle shows that it failed at the $0.295 level. This means that prices are struggling to stay above the lower support.
Also, the daily RSI is bullish, reflecting the strength of recent price movements. This bullish divergence indicates a high probability of a price reversal. Additionally, this bullish reversal presents the formation of a double bottom pattern encouraging a continuation of the bullish rally to $0.425.
Meanwhile, one of the prominent names in the metaverse market in 2022 was the Shiba Inu. cryptocoin.com We have included the details in this article. Last year, Shiba Inu land sales reached $20 million. In June, 19,473 land buyers out of the first 32,000 plots in the metaverse were received. Meanwhile, the SHIB team dominates the game market outside of the metaverse. Therefore, it will be important to follow Shiba’s metaverse projects in 2023.