NFT Tokens ( Non-Fungible-Tokens)

Web3 Tokens Needs Serious Attention, SAND, MANA & AXS Could Explode Only With These Conditions!

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Dec 13, 2021

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Article Highlights
  • SAND price is attempting to break out of the consolidation but just being away from the uptrend due to lack of attention

  • Decentraland(MANA) price gets rejected yet again in an attempt to pierce through the descending trend

  • AXS price also is following serious downtrend testing crucial levels and hence serious attention needed here

The Sandbox(SAND) Price is Attempting a Breakout!

The Metaverse tokens gained huge attention in recent times, as they exploded while the traditional cryptos and the DeFi’s consolidated in a narrow range. Among them, the Sandbox(SAND) price ranged above everyone’s expectation but just fell an inch short to hit a double-digit milestone. However, the asset quickly shed a lot of gains yet sustained above strong support levels showcasing the possibilities of yet another bull run.

Trading view
  • The asset is trending within a descending triangle, yet refusing to break the triangle to move towards the south
  • SAND price is currently testing crucial resistance levels just below $6 and a daily close above these levels could strengthen the asset’s position
  • Yet the higher time target still resides somewhere above $8, slashing the initial target at $6.2 and $7.6

Decentraland(MANA) Price Appears Bearish Yet Bullish

The MANA price appears much in a better position as it’s reaching the apex of the pattern. Ever since the asset smashed the highs around $5.9, the asset initiated a notable bearish trend. Interestingly, the support levels remained elevated, compelling the asset to trend within a symmetrical triangle. The asset failed to break through the triangle in the early trading hours but could rebound and test once again. 

Trading View
  • The MANA price is trending within a symmetrical triangle and currently ranging towards the lower support levels of the triangle
  • Despite a failed attempt the asset appears to be poised to go higher and hence, a notable flip is expected as the asset hits $3.16 support levels. 
  • With the flip, the asset could range high and attain the minimum resistance zone in between $4.2 to $4.3. 

Axie Infinity(AXS) Rising High, Is It a Flip or Fakeout?

Yet another popular Web3 token, AXS price is swinging within the bearish divergence. The asset is flowing through the descending parallel channel. Interestingly, the asset has witnessed a couple of fake-out in recent times, and hence despite a breakout, yet the uptrend cannot be confirmed until the price does not reach the local resistance. 

Trading View
  • AXS price is drawing with a descending parallel channel with the price attempting a notable upturned 
  • No doubt the uptrend could eventually assist the price to break through the descending pattern, yet it cannot be valid until the strong resistance levels in between $136 to $138 are not reached.
  • At the press time the AXS price is hovering around $100 and preventing the price to reach the strong resistance levels at $97.63

On the whole, the Web3 tokens which boomed massively in the past fortnight appear to be completely exhausted. The assets are unable to retain their higher support levels and get flipped into bearish divergence within no time. And hence SAND,MANA & AXS prices need serious traders attention. 

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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