Price Analysis

Is Trend Reversal Near For, The Sandbox (SAND), Decentraland(MANA), & Enjin Coin(ENJ)!

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As the crypto space continues to embrace the evolution of distinct technologies, Metaverse has also engulfed massive traction of the mainstream audience. Interestingly, post-Facebook’s rebrand to Meta, the respective protocols have soared beyond expectations. Moreover, while the crypto market strives to escape from the bear trap, Meta tokens emerged as saviors of the crypto space. 

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Notably, The Sandbox (SAND), Decentraland (MANA), and Enjin Coin (ENJ) soared by more than 450% post the trend reversal to meta. Yet the tokens have been trading at their peak of the bull cycle, correction in the short-term looks imminent. 

The Sandbox (SAND)

The Sandbox price has been a revolutionary project in the world of gaming. With the incredible surge in the trading volume of 28.54% round the clock, the price of the asset has reached a new ATH of $7.02 on 24th November. The asset has been clinching higher highs with short corrections of 5 to 8% prior to its every leg up. SAND price hasn’t yet undergone a trend reversal if it happens anytime from now, then its price would plummet to $3.35. 

Decentraland (MANA)

A Decentraland price network has been built on the Ethereum blockchain. With an incredible surge of trading volume of 59.28% round the clock, the protocol has claimed an ATH of $5.31 on November 24th. The MANA price has maintained a slow and steady rise throughout the month. With healthy consolidations, the price has made a solid move. Though the price has not undergone a major pullback yet, the price would decline by more than 20 to 30% reaching crucial support around $3.6. 

Enjin Coin (ENJ)  

Enjin, a blockchain-based gaming firm looking strong for the past couple of days to overthrow SAND and MANA. With a more than 100% surge in trading volume, ENJ’s price has hit an ATH of $4.50 on November 24th. Unlike other chief Meta tokens, the protocol has shown positive volatility throughout the year. Hence, in case of a trend reversal, the price would drop to the immediate support of $3.2. 

Collectively, the aforementioned Metaverse tokens have been trading at their peak of the bull cycle. However, it’s been a while they haven’t undergone a requisite correction yet. In case of a trend reversal, the tokens would experience a correction of 10 to 15% for a longer period. Hence, before investing in projects at their ATH, it is mandatory to do a thorough research of the asset. 

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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