Price Analysis View Non-AMP

With A Comeback For Metaverse Tokens, Is A Bull Run At Hand?

Published by
Sohrab Khawas

With the meme coin sector making waves, the different sectors in the crypto world are gradually finding demand for a comeback this year. In a similar condition, the Metaverse tokens are starting to accelerate and tease a bull run at hand, teasing an altseason’s arrival. 

With the anticipation of a bull market like 2021, the metaverse tokens are on the verge of massive gains this week. So, let’s have a look at the technical price charts of high-performing metaverse tokens like the High Street, Decentraland, and Gala to find out their possible bullish targets.

Rounding Bottom In Highstreet Metaverse Token

With a 50% surge within 5 days, the HIGH token price trend shows a massive surge in the bullish momentum. Further, the metaverse token shows a rounding bottom reversal in the weekly chart. 

The bull run in the metaverse token surpasses the 78.60% Fibonacci retracement level. This increases the possibility of a bull run for a new all-time high this week. 

As per the Fibonacci levels, the breakout run can find resistance at the $7.260 mark. However, a breakout rally might push the token higher to the $11.225 mark, surpassing the $10 psychological mark in June. 

Trendline Breakout Gala Price Eyes 50% Surge

Amidst the broader market recovery, the sideways trend in the GALA token price projects a potential uptrend. The metaverse token shows a trendline breakout rally but struggles to gain momentum as it goes sideways under the 50D EMA. 

As the dynamic resistance 50D EMA declines, the possibility of a death cross increases. Further, the 3.82% intraday drop undermines the possibility of a trend reversal. 

However, improving underlying sentiments could boost the metaverse token price to $0.061, which is the 50% Fib level.

Will MANA Price Reverse The Death Cross?

Following a death cross in the daily chart, the MANA price shows a sideways trend under the 50D EMA. However, the recent surge from the $0.40 mark shows a bullish revival aiming for a trend reversal. 

Currently, the MANA price trades at $0.4481, with an intraday drop of 4.40%. However, the bullish trend in the MACD and signal lines bolsters the possibility of a bullish trend. 

As per the Fibonacci levels, the MANA price could reach the $0.5867 mark or the 50% Fibonacci level if it surpasses the 23.60% level at $4850.  

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

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