Price Analysis

Is MANA, SAND, & ENJIN Price Heading Towards A Doom?

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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Nov 26, 2021

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The market fall is now creeping towards the projects catering to the metaverse industry. While top-tier digital assets register double-digit negative gains on the charts. Consecutively, geeks from the metaverse community bag the dips, for higher returns in the up-cycle.

The booming industry has been thriving at an accelerating rate in recent times, despite the crypto market being bland. The emerging sector has also fueled NFTs and projects catering to the industry. However, the market now is exhibiting red signals on the market charts. The market cap of Metaverse is currently at $51,324,502,982, which is up by 0.81%. The trade volumes are down by 30.49% at $21,476,163,938.

Decentraland (MANA) Price

 MANA at press time is trading at $4.58 while scripting negative gains of 15.5%. The market cap of the digital asset is hovering at $6,013,490,310. While the trade volumes for around the clock are at $4,065,523,064. The crypto has been trading in the range of $4.48 to $5.43 for the past 24-hours. MANA did trace its way towards an ATH of $5.85 the previous day.

The crypto has previously rebounded from its support levels, towards $5.4 from where the asset has seen a pullback to current levels. The retest candle could help the altcoin stick above the support levels. We can expect, MANA to consolidate prior to its moonish trend towards $5.9. The next target for crypto would occur at levels around $6.8.  

The Sandbox (SAND) Price

SAND at press time is trading at $6.811 with gains being negative by 7.0%. The market capitalization of the digital coin is floating around $6,065,239,586. On the contrary, the trade volumes for 24-hours are at $4,449,971,260. SAND has been traversing along with the bandwidth from $6.56 to $7.84 since the previous day. The ATH was claimed a day ago at $8.40.

SAND price can be seen projecting along with the bullish pennant on the chart. A breakthrough from the bullish pennant could take the value of the coin to its ATH at levels around $8.5. The target thereafter for SAND would be at levels around $9.5. 

Enjin Coin (ENJ) Price

Enjin Coin at the time of writing is trading at $3.82 while registering dips of 10%. The market cap of ENJ is currently hovering at $3,480,984,158. On the contrary, the trade volumes are at $1,037,207,690. The digital coin did trace to its ATH of $4.82, the previous day similar to its rivals. Whilst trading in the range from $3.64 to $4.42 since the last day. 

The Enjin coin price has been trajecting along the rising channel. The digital coin has retested its support levels currently. From where the altcoin might expect a rebound to greater levels around $4.84, the target thereafter would be at $5.4. However, a plunge could be unlikely for the digital coin.

Collectively, the metaverse space has accompanied fortunes to the projects catering to the booming industry. And to the NFTs in the crypto town, which might further influence other projects to join the league. We can expect, the space to retrace its levels with the market rebounding from the current trends. 

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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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