Published 9 hours ago
Top 5 NFT Coins To Buy Before Entering 2023: In 2022, the NFT market received tremendous attention from investors, causing the coins associated with it to skyrocket within a short period. However, the ongoing downtrend in the crypto market tumbled these coins significantly and brought heavy discounts for interest buyers.
Apecoin(APE)
Source- Tradingview
As a result of the ongoing downtrend, the Apecoin price tumbled 89% from its all-time high of $39.4 to currently trade at $4.31. Furthermore, the technical chart showcased the prices have been falling in response to a downtrend for the past seven months.
On December 11th, the altcoin breached this long-coming trendline indicating an early sign of trend reversal. The potential growth show encourages a bullish rally to $27.6 by mid-2023.
Chiliz(CHZ)
Source- Tradingview
The Chiliz(CHZ) price falling for nearly two years, lost 84.73% from the all-time high of $0.891. However, this downfall shows the formation of a falling wedge pattern in the monthly time frame chart.
This bullish pattern is set to trigger a significant rally upon the breakout of its resistance trendline. The coin currently trades at $0.13, but completing this pattern may push the prices to reach $1 by last 2023.
Theta(THETA)
Source- Tradingview
From the All-Time High of $15.9, the ongoing downtrend plummeted the THETA price 94.82% down to its current price of $0.822. However, this altcoin has been sideways for the past seven months, suggesting the bearish momentum has been exhausted.
If the prices reach near $0.82 support, the Fibonacci trend-based extension hints the potential growth may hit $2.55 by the first or second quarter of 2023. Moreover, the indicator shows the next supply zone at $4.4.
Sandbox(SAND)
Source- Tradingview
A V-top reversal from the $8.44 all-time high plunged the SAND prices by 93.49% and reached the $0.55 mark. Furthermore, the altcoin shows a breakdown from the $0.574 support indicating the sellers may resume the ongoing downtrend.
Thus breakdown could tumble the price by 71% to reach its current market value of $0.55.
However, the holder may witness a recovery attempt if the SAND price shows sustainability above the long-coming $0.55 or $0.18 support. This recovery could push the price near the supply zone of $2.5, followed by $3.5.
Decentraland(MANA)
Source- Tradingview
Amid the ongoing downtrend, the MANA price lost 93.56% from its All time high and slumped to the current price of $0.38 mark. The coin price currently retests the June 2021 bottom support of $0.37.
Thus, the altcoin could witness a significant upswing if the buyers managed to sustain this old support. The potential target for MANA price could be 363% higher $1.7 mark within the first half of 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-nft-coins-to-buy-before-entering-2023/