Price Analysis

NFT’s Experience Massive Downfall, Will AXS, MANA & SAND Price Stabilize the Downfall?

Written by: Sara K

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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Feb 22, 2022

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Highlights

    Crypto folks explore P2E projects for investments in the midst of a market-wide plunge.

    AXS, SAND, and GALA exhibit potential traits for buy-orders in the dip.

Decentraland(MANA) Price Analysis

The Decentraland price has maintained a steep descending trend since the mid of February 2022. Also the very recent attempt to flip from the bearish trend has gone in vain as the price nullifying the uptrend, slashed and revisited the lower support. Currently, the MANA price has attempted a notable flip from the lower support at $2.4 and heading toward one of the important resistance at $2.8 which may offer interim relief from the bearish trend.

The buyers and the sellers are in a tough brawl to capitulate the trend accordingly. But the price appears to be poised to hit the upper resistance after undergoing some jumps and pullbacks. The MANA price currently swinging within a narrow range could hit the upper resistance in the coupleof days and also experience an interim pullback. However, the asset may not reach the lower support and ignite with a rebound much before and smash levels beyond $3 slicing through the pivot levels in between $2.7 to $2.8. 

The Sandbox(SAND) Price Analysis

The SAND price is currently testing some crucial phases or support levels where a rebound towards the upper levels is the need of the hour. However, after striving for some time, the asset is expected to be dominated by the bears who may drag the price to the lower support close to $1.5. Here instead of rebounding quickly, the price may consolidate along the support levels to gain some strength. 

The SAND price is currently holding the support levels pretty strong but the buyers may get exhausted any moment from now. And here’s when the sellers may jump in to capture the market. Therefore a steep drop much below $2 may be possible in the near future which may drag the price around $1.5. Once the yearly lows are marked, a notable upswing could thrive in to uplift the price back towards $3. 

Axie Infinity(AXS) Price Analysis

Axie Infinity after faking out just a couple of days before is on the verge of repeating the same trend yet again. However, the trend currently is appearing pretty bearish as the price is swinging within the same descending trend from the past seven days. Interestingly, the buying volume has outpowered the price rally and hence a healthy consolidation at the current levels may be imminent. 

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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