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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