By Alicia Maher
Even though the technical chart revealed that bears had heavily attacked Meta Coins during the latest correction period, more well-known companies and businesses have joined the Metaverse ecosystem in the last few years, including Meta (formerly known as Facebook) and Apple and Disney. Additionally, the reclaiming of the $40K mark by BTC has had a favorable effect on market sentiment, causing altcoins to climb.
MANA Investors Attempting to Regain the $3 Mark
MANA/USD price chart Source: TradingView
The MANA price fell below the 0.786 Fibonacci retracement level ($1.71) underneath the weight of the downward trendline, signifying a 70 percent loss from the ATH resistance of $5.9. Nevertheless, throughout the past 2-weeks, the cryptocurrency price has recovered by 77 percent, piercing the volatile resistance pattern.
The bulls have broken over a key common resistance level of $2.9 as well as the fifty-day SMA, signaling that the purchasers are set to launch a comeback surge. Investors will propel the altcoin to $3.43 or $3.9, assuming the cryptocurrency provided a daily candle close above this resistance.
Despite popular belief, assuming buyers struggle to maintain the cryptocurrency above $3, the altcoin price will drop to $2.4, then $2. Regardless, the MACD indicator indicates that the MACD and the signal line are gradually nearing the bottom’s midline. People long in the stock market would be very happy to see this bullish crossover.
GALA Teases With the Bullish Breakout From the Consolidation Stage
GALA/USD price chart Source: Tradingview
GALA purchasers have been protecting the $0.17 mark with enthusiasm for the previous 2 weeks. The significant selloff at $0.23, on the other hand, resulted in the formation of a small spectrum as the price breakouts from both of its levels, like consolation, offer a significant upward move.
Currently, the token has formed a big bullish candle that has pierced the paired resistance of $0.23 and the falling trendline, signaling that a positive reversal is possible. The GALA value increased by 42 percent from the $0.17 support level; nevertheless, cryptocurrency traders must wait for a daily candle to close over this resistance level to verify the breakthrough.
Assuming buyers can keep the altcoin above $0.23, it will climb to $0.288 resistance, then 0.36 resistance. 50-day moving average dips below the 100-day moving average. This bearish breakthrough urges sellers to press on with their bearish assault.
AXS Gains on Double Bottom Breakout
AXS/USD price chart Source: Tradingview
Following the AXS coin value hit $160, it started a correction step inside of a falling channel trend that can be seen on the daily chart. This is what happened. Only the $50 support level may demand to be found for the descent.
Cryptocurrency price movement develops a double bottom around the $50 support zone, which may soon threaten the descending channel’s resistance trendline. Bullish efforts are also met with dynamic opposition from the 20-day EMA.
Once the slope breaches and exits the oversold zone, the RSI index signals a jump in intrinsic bullishness from a technical standpoint. In this case, a rising divergence between the two bottoms of the double bottom trend is evident as the slope rises above the 14-day simple moving average. $85 is a possible barrier for a post-breakout upswing. When it comes to a bearish rebound, $50 and $32 serve as support levels.
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