Metaverse has had stagnant interest since its peak in 2021. This caused metaverse coin prices to experience sharp declines. However, according to crypto analyst Valdrin Tahiri, the 3 cryptocurrencies have interesting formations that could lead to price increases in the future.
Axie Infinity could lead metaverse coins
AXS price has dropped below a descending resistance line since late January. The line has been in place for this long. This percentage is considered a bearish trend as long as the price is trading below. However, over the past two weeks, AXS price has formed a double bottom, which is considered a bullish pattern. Therefore, an upside move is likely to follow it.
AXS Daily Chart / Source: TradingViewIf the RSI is above 50 and the trend is up, the bulls still have the advantage. However, if the value is below 50, the opposite is true. The current RSI is just below 50. However, it formed a significant bullish divergence (green line). Also, both are rising as signs of an uptrend. As a result, a break from the line is the most likely scenario. If AXS manages to break the support, it is possible to move up to the nearest resistance at $9.40. However, despite this bullish price prediction, a close below the May low of $6.48 will mean that the trend is still bearish. In this case, the price of the metaverse coin is likely to drop to $4.50.
MANA price tries to break through resistance
Similar to AXS, Decentraland (MANA) price has also dipped below a descending resistance line since early February. More recently, this line caused a rejection on April 18 (red icon). This caused the price to dip below the horizontal area of $0.50 in May. The price has bounced since it was once again rejected by the space on May 16 (black icon). A retracement or rejection of the $0.50 resistance area could set the future trend.
MANA Daily Chart / Source: TradingViewIf MANA retraces it, a rise to the resistance line at $0.57 would be the most likely scenario. However, if MANA is rejected, a drop to the nearest support at $0.42 is possible.
The Sandbox price regains horizontal resistance
cryptocoin.com Similar to AXS, SAND price has also formed a double bottom pattern since May 10. This pattern combined with a bullish divergence in the RSI has increased its legitimacy. Moreover, the metaverse coin reclaimed the $0.52 area after the price had previously dipped below it. This is also considered a bullish sign. However, the price failed to break out of the descending resistance line. However, he is now making another breakout attempt.
SAND Daily Chart / Source: TradingViewIf successful, it is possible for SAND to rally as high as $0.70. However, if the metaverse coin closes below $0.52, it is likely to see a significant drop to $0.40.
