With the market showing low volatility at the moment, let's check the price performance of metaverse and NFT tokens!
Metaverse and NFT coins are still consolidating as the market is showing low volatility. Let’s look at how they are performing in the 4-hour chart!
MANA/USDT
The $0.617 support continues to hold for MANA as buyers are preventing the price from falling below the level. If the bulls fail to hold it, MANA will likely move to $0.528, making a fall of over 10%.
There are also equal lows present near $0.62, which will be targeted by the price as there is a lot of stop-loss liquidity there. Therefore, maintain caution while trading near these lows.
SAND/USDT
SAND has been consolidating on top of its previous range. The RSI is currently attempting to reach 50. If it succeeds, the chances for the price to start moving up into the November range lows will be higher.
However, if there is no bullish momentum, and the price moves into its previous range, it will likely travel to the midrange at $0.62, or the range lows.
RACA/USDT
RACA has moved back into its range between $0.00024 and $0.0002. The price is currently consolidating around midrange.
However, as pointed out on the chart, there are lots of stop losses below the local lows at $0.000217. If the price sweeps these lows, there could be a large move down as the sell orders will be triggered (DYOR).
On the other hand, there is a double bullish RSI divergence present in the chart, which could allow the price to move to $0.00023.
STX/USDT
STX has continued its ascent this week. Apart from the retest of the support at $0.8445, there has been no clear buying opportunity (read: major dips) visible on the chart. The volume gap has not been tested yet.
The chart shows multiple bearish RSI divergences, which could force a dip to happen (not financial advice).
GALA/USDT
GALA failed to hold the support level at $0.0434 and broke below the trendline.
This fall may continue unless the bulls manage to reclaim the original support. If they fail in doing so, a move towards $0.033 is probable. If that happens, this level will offer good support, as it is a breakout level that has hardly been tested.
Summary
A quick recap of all the coins:
- MANA has equal lows present near $0.62.
- SAND is consolidating on its range highs.
- RACA is consolidating above lots of stop losses.
- STX continues to move up with very few dips.
- GALA has broken below a trendline.
Writer’s Disclaimer: This article is based on my limited knowledge and experience. It has been written for educational purposes. It should not be construed as advice in any shape or form. As always do your own research.
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