Decentraland

The Sandbox

Date: Sun, Nov 24, 2024, 09:45 AM GMTThe cryptocurrency market is showing bullishness as Bitcoin’s dominance begins to ease, dropping to 59% from its recent peak of 60.40%. This shift has allowed major <a href="https://coinsprobe.com/jasmycoin-jasmy-builds-momentum-can-the-next-breakout-start-a-rally/" rel="noopener noreferrer nofollow">altcoins</a>, including Metaverse tokens, to catch the spotlight. Notably, Sandbox (SAND) and Decentraland (MANA) have experienced remarkable surges, rallying over 60% and 40%, respectively, in the last 24 hours.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/ae1342a1c3d749f48087f149ba4e90d1.png" />Source: CoinmarketcapThis sudden upward momentum in the Metaverse narrative, a trend that dominated the 2021 bull run, is sparking hope among investors after enduring a prolonged three-year downtrend.Both tokens are on the verge of breaking through long-standing resistance levels, which could solidify a bullish trend if surpassed. Let’s look into the charts and patterns for each token to analyze the potential breakout levels and targets.<h3 id="sandbox-sand">Sandbox (SAND)</h3>As per the weekly chart (SAND-1W), Sandbox is attempting to recover from its extended downtrend, forming a potential breakout pattern above the $0.78-$1.00 resistance range. The Relative Strength Index (RSI) has risen significantly, currently at 67.59, suggesting rising bullish momentum.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/331d627ac326423aa983561baa733dc2.png" />If SAND clears the $1.00 resistance, it could target $1.50 initially, followed by a stronger resistance level near $3.58.<h3 id="decentraland-mana">Decentraland (MANA)</h3>The weekly chart for MANA (MANA-1W) showcases a similar scenario, with the token approaching a critical resistance zone at $0.67-$0.83. MANA’s RSI has climbed to 70.17, reflecting bullish sentiment.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/f59fb660c7b24ef1a8900152a345c1c1.png" />A breakout above $0.83 could set the stage for a rally toward $1.11 in the short term and potentially $2.80 in the medium term.<h3 id="what-to-expect-ahead">What to Expect Ahead?</h3>Both SAND and MANA are showing strong bullish signals, as indicated by their rising RSI levels and formation of double-bottom patterns. If these tokens manage to break through their respective resistance zones — $0.78-$1.00 for SAND and $0.67-$0.83 for MANA — we could anticipate a significant upside rally in the near term.A breakout above these levels would confirm the reversal of their prolonged downtrends, potentially setting the stage for a robust recovery in the Metaverse sector. However, sustaining this momentum will require continued bullish sentiment, support from trading volumes, and favorable macroeconomic conditions.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.Also Read: <a href="https://coinsprobe.com/ldo-and-core-approach-key-resistance-levels-are-breakouts-on-the-horizon/" rel="noopener noreferrer nofollow">LDO and CORE Approach Key Resistance Levels: Are Breakouts on the Horizon?</a>

SAND and MANA Makes Comeback: Will The Next Move Confirm Metaverse Rally?

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