Metaverse and NFT coins have made some significant moves in the past week. Let’s have a look at how they are performing in the 4-hour charts.
Metaverse and NFT coins have made some significant moves in the past week. Let’s have a look at how they are performing in the 4-hour charts.
MANA/USDT
After rallying to the top of the range between $0.732 and $0.617, MANA has cooled off and is taking some time to consolidate. The price is now moving back into the support zone, which could be a great buying opportunity for MANA bulls (make sure to do your own research!).
If the price moves below $0.617, the bullish market structure would be broken. $0.5 is the next support below this level.
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SAND/USDT
SAND attempted to reclaim support at $0.779 but formed a negative RSI divergence and got rejected. The price is still in an uptrend.
If SAND bulls hold the top of the previous range between $0.55 and $0.7, there could be another move to the upside that could hit the previous high at $0.85.
RACA/USDT
RACA has fully reclaimed the psychological support at $0.0002, as can be seen by the retest of the level this week. The price has reclaimed its previous range between $0.0002 and $0.00024 and could attempt to break above the high levels.
If the first resistance level around $0.00023 can be claimed, the equal highs (range highs at $0.00024) could be swept.
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STX/USDT
STX continues to go higher and is in a clear uptrend. The support level at $0.247 is quite strong. The price will now try to form a higher low. Once this is formed, traders could look to target $0.3 (DYOR).
As previously mentioned, STX is a higher beta; however, it has not moved up as much in price as BTC. Consequently, it makes more sense to hold BTC over STX to avoid unnecessary risks.
GALA/USDT
GALA is consolidating in a range between $0.055 and $0.043. This will form a major decision point for the token. If the price goes below $0.043, it will likely move down to $0.035, which could be an area for a bounce.
Also Read: Bull Market vs Bear Market: What’s the Difference?
Summary
- MANA has reclaimed a previous range between $0.73 and $0.61.
- SAND is currently in an uptrend, and seems like it could make new highs soon.
- RACA bulls should try to target the equal highs at $0.00024.
- Although the STX chart is in an uptrend, it is still weaker than BTC.
- GALA is ranging between $0.055 and $0.043. Any move on either side will dictate how the token will perform the next month.
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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