• Metaverse Token Price Analysis: SAND, MANA, AXS

  • Since the major Facebook name change to ‘Meta’, the Meta Universe token has gained a special place in the hearts of cryptocurrency inventors. Reacting to the big news, most Meta tokens have experienced an influx of investors who want to be a part of this promising technology. Check out the price analysis of SAND, MANA and AXS tokens.

    4 Hour Frame Chart of SAND/USD

    On November 3, the SAND token’s rally hit a new all-time high of $3.45 before beginning a small pullback phase. Trying to recover from this pullback, the token price rechallenged overhead resistance, only to face another strong rejection.

    However, the SAND token has gained renewed interest from cryptocurrency investors thanks to its recent announcement that it will launch Sandbox Alpha on November 29. The technical charts show the impact of this news, with a 17% gain on the November 16 session.

    The token price managed to break out from the previous $ATH 3.3 mark, indicating an excellent long opportunity for cryptocurrency traders. The token is currently in the backtesting phase and should verify if this breakout is real.

    Furthermore, the Relative Strength Index (74) shows a strong bullish sentiment towards the token’s price. However, the RSI chart also shows a bearish divergence, and therefore, the cryptocurrency should be cautious enough to accept the possibility of a false breakout.

    4-hour frame chart of MANA/USD

    The MANA/USD chart shows a reasonable possibility of forming a cup-and-handle pattern in the 4-hour time frame chart. The neckline of the pattern is located at the $3.68 mark and the price still needs to complete its handle part.

    Once the price properly breaks above the resistance, cryptocurrency traders can take a good long opportunity. Moreover, in this chart, the 100 EMA line acts as an important support for a minor pullback.

    Moreover, the Relative Strength Index (49) indicates a slight bearish and neutral sentiment for the token. Moreover, the bearish divergence evident in the RSI chart creates a great concern for the MANA token.

    The 4-hour frame chart of AXS/USD

    The AXS token has shown a significant rally in its technical charts, as the token price keeps breaking through one high resistance after another. However, a similar event occurred on October 29, when the price broke through the previous all-time high resistance mark of $141.50.

    The token failed to rally much higher, and with a star candle at $162 each night, the token initiated a bearish reversal and even broke through the support area around $141-$135. Regardless, the token charts also suggest a lower price rejection candle below this support level, so cryptocurrency traders can wait for a break of the $116 mark to confirm the short.

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