Published 5 hours ago
Top 5 metaverse crypto coins set to explode in 2023: the Metaverse market received huge popularity in 2022 and showcased its utility to investors worldwide. However, the current bear cycle has heavily discounted these tokens, and considering the increasing adoption of Web3; they may show huge potential in the near future.
Apecoin(APE)
Source- Tradingview
Amid the ongoing bear trend, the Apecoin price tumbled 90.45% from its All-time High of $39.4. However, over the past seven months, the coin price has showcased a steady under the influence of a descending trendline.
By press time, the APE price trades at the $3.6 mark and gradually approaches the overhead trendline. A bullish breakout from this dynamic resistance could drive the prices 150% higher to hit the $9.16 mark.
Theta Network(THETA)
Source- Tradingview
The Theta coin has witnessed a steady downfall since April 2021. Thus, from the All time high of $15.9, the prices have tumbled by 95.1% and currently trade at the $0.779 mark.
However, for the past seven months, the THETA price has mainly traded in a sideways rally indicating the bearish momentum is getting exhausted. If the prices manage to sustain above the $0.82 or $0.575 support, a potential recovery cycle may lead this coin to the $1.7 mark by mid-2023.
The Sandbox(SAND)
Source- Tradingview
In a V-top reversal, the SAND tokens price has dropped from an all-time high of $8.4 to $0.44, registering a 94.4% decline. However, Over the past four months, the coin price has been wobbling inside a falling channel pattern.
In theory, this bullish continuation pattern may encourage a strong direction rally upon the breakout of its resistance trendline. This breakout could lead the prices to the $1.5 mark.
Axie Infinity(AXS)
Source- Tradingview
The AXS price shows a textbook example of a V-top reversal from the $165.37 all-time high. Amid the ongoing downtrend, the prices have tumbled 95.77% from the peak and currently exchanging hands at $7.05.
However, the price action starting to lean sideways suggests the bearish momentum is gradually fading. Thus, If the Axie infinity coin manages to bottom around $6 or $5, a bullish recovery to $20 is plausible by mid-2023.
Decentraland(MANA)
Source- Tradingview
A steady downfall from November 2021, the MANA coin price turned down from an All-Time high of $5.90 and slumped 94.80%. However, the RSI indicator, which reflects the strength of price movement, is dumped to the oversold region.
The RSI value of 27% in the weekly chart indicates the selling activity has overextended or discounted to a large extent. Thus, if the price manages to sustain above the $0.23 mark, a possible recovery may encourage a price jump to 0.7 by mid-2023.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/top-5-metaverse-crypto-coins-set-to-explode-in-2023/