With BTC making its moves, let's see what the future holds for NFT and metaverse tokens!
With Bitcoin (BTC) forming consecutive higher highs and higher lows, buyers are in control of the trend. Providing BTC holds above the range highs ($22,400), the price should continue to move up. Therefore, looking for altcoins with the potential of new all-time highs is worth it.
Let’s have a look at the performance of the NFT and metaverse
coins in the 4-hour time frame.
is still within the range outlined from $1.05 to $0.78. The price has now swept all liquidity
above these highs. It got rejected above them, showing seller presence. This could be due to the psychological resistance at $1. However, there is a higher time frame uptrend on the charts.
Providing the price does not drop below $0.92, looking to long dips
could be fruitful for a range breakout. If MANA does start to drop further, bulls will have to hold it above the trendline around $0.88, or the value extreme ($0.63) could be tested.
Check out our guide to death cross and golden cross!
is still consolidating close to resistance around $1.32. This is a massive level to be flipped into support. If buyers flip it, the price will move to take out the equal highs around $1.50-$1.53. The trendline needs to hold. If it doesn’t, and sellers step in, then the local lows around $1.15 will be targeted. $1 is the best area to bid if we continue to move lower after sweeping $1.15.
continues to hold those equal lows around $0.00036. After the buyer’s front ran the wick support at $0.000368, the price moved up to test the range highs at $0.00042 again. Since RACA is in a 1D uptrend, any dip should be considered a good buying opportunity unless there is a close below $0.00038.
Want to learn more? Check out our guide on how to trade futures on Binance!
STX has moved back below key support at $0.494 after attempting to form value above it. This is an important level. If the price is accepted above, STX could move to $0.6 — a more than 20% move. The next key level is the wick support at $0.439. Bulls need to step up here, otherwise, sellers could drive the price below the trendline causing a much larger move down.
There are clear equal highs on the GALA chart around $0.073. If the price continues its uptrend, these highs should be a target. The price is around the midrange at $0.58, therefore taking a directional trade here makes no sense. For a move higher, the price needs to start breaking above the value area high at $0.067. If it can do this, GALA can move much higher.
- MANA is currently consolidating below range highs at $1.05. The price needs to break above this level to move higher. If it cannot break out, it is likely to test the other range extreme around $0.78.
- SAND is in a 1-day uptrend. Providing sellers do not break the trendline at $1.20, it will likely move towards equal highs at $1.53.
- RACA is consolidating below range highs, however, if the price breaks above $0.00043, it is likely to test $0.00046. There are equal lows at $0.00036, but these are unlikely to be tested if there is a range breakout.
- STX has been rejected at $0.494. This is a key level, and if buyers can force the price above it again, STX could test $0.6.
- GALA is likely to move into equal highs at $0.073 after testing range lows. This liquidity is going to be a big target for the price as it will be where lots of stop losses are placed.
Not sure whether to invest your hard-earned money in crypto or stocks? Check out our comprehensive guide on Bitcoin vs S&P 500!
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.