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Metaverse Tokens Skyrocketed. Is There a Correlation With the Crash of Altcoins?

Despite the chart’s technical details showing enormous bear attacks against Metacoins over the current correction period the fundamental growth that the ecosystem of Metaverse has dramatically been accelerated.

This is because more well-known firms and industry giants, like Meta, Apple, and recently Disney, have entered the metaverse. Additionally, the significance of Bitcoin’s reclaiming of that $40000 milestone has helped boost the confidence of investors which has led to the rise of altcoins to higher levels.

It’s certainly been difficult for investors in cryptocurrency to assess the state of affairs. A variety of high-flying cryptocurrencies with substantial growth motives have performed well in 2021. However certain metaverse cryptos have seen a rough start until 2022. Metaverse tokens have been soaring, but does it coincide with the decline of other coins? Let’s examine what could boost three of the best metaverse cryptos higher this year.

Getting to Know What Metaverse Is

The metaverse is a reference to technological advancement in the form of 3D virtual environments. People in the metaverse utilize its tokens, also known as metaverse tokens as their own virtual currency. Users can make, buy and sell tokenised financial assets and goods and many promising tokens are expected to increase in value over the next months.

Some metaverse tokens can be used only within the metaverse ecosystem, some are offered through exchanges like WazirX, Binance and platforms such as Bitcoin Profit. It is interesting to note that experts are very excited about the Metaverse-related tokens. Haim Israel, a strategist from Bank of America, assured the users that metaverse tokens represent a massive, massive opportunity” .

Metaverse Coins Soaring Higher

A variety of metaverse-related cryptos have become extremely popular. This is an area which is getting a lot of attention in the present. According to research, investors are interested in the possibility of disruption that a variety of blockchain-based networks provide in this area.

With this in mind an overwhelmingly flow of green on cryptocurrency charts shows that investors may take a risk-on approach to the rise of metaverse tokens in the present as a variety of industries that are hyper-growth are trading at a higher level. With this in mind we’ll take a look at the three most popular rising metaverse tokens.

AXS Rises With Its Double Bottom Breakout

It is believed that the Price of the AXS token is beginning an upward correction inside the downward channel pattern visible from the day-to-day chart, after having identified supply near the $160 mark. But, the price decline breaches multiple levels of support before hitting demand at the $50 level of support.

In addition it is worth noting that also, the token AXS price fluctuation is a double bottom close to the support zone of $50 and could challenge the channel’s downward regression line. Additionally twenty-day Exponential Moving Average serves as an ongoing resistance to bullish moves.

Technically the RSI indicator is a sign of a rise in bullishness underlying as the slope breaks out and crosses that oversold line. The slope is above the 14-day simple moving mean which indicates the presence of an oversold divergence that is bullish in Double Bottom pattern.

MANA Pursuing To Reclaim Its $3 Mark

MANA price fell to the value of the MANA coin dropped towards the 0.786 Fibonacci retracement level, which is $1.71 in the context of the trendline downward and revealing an increase of 70% of that All-Time High resistance of $5.9. But, the price rebounded by 77% over the past two weeks, and broke through the trendline of resistance that is dynamic.

In addition the bulls have managed to break through a crucial mutual resistance threshold of $2.9 and also the 50-day SMA which suggests the buyers are poised to begin a rally in its rebound. But, if the cryptocurrency closes its daily candle higher than this level and buyers push the price of this cryptocurrency upwards to $3.43 (or $3.9. Contrary to popular opinion in the event that buyers do not maintain the coin’s value above the $3 threshold, the price will plummet to $2.4 and then $2.

GALA With A Tease In Breaking Out From Its Consolidation Phase

GALA Buyers of HTML0 have been fighting for a way to fight their $0.17 mark with determination for several weeks. The intense selling pressure of $0.23 On contrary has led to the creation of an extremely narrow price range. When the value of the investment breaks out of any level and creates a strong directional shift.

Recently, the cryptocurrency has formed a large bullish candle, which has penetrated the resistance that is $0.23 and the trendline downwards which could be the beginning of a bullish rebound. The GALA price jumped by 42% since its $0.17 support level. However, crypto traders must be patient to see if a daily candle closes above the resistance mark to confirm the breakout.

If buyers hold their position at or above $0.23 the price will climb to $0.288 as a first resistance which will be followed by $0.36.

What now?

The sales of real-estate digitally as well as in-game NFTs continue to rise. And , despite the high volatility there are a myriad of positive arguments about what these tokens are worth to think about. However, these leading metaverse cryptocurrency assets are one to look into in the present for people who are serious regarding both user and developer development in this field.

There is however an argument that can be made for the holding of one of these coins. In the light of speculations, demand has soared the market value of these tokens over only a short time. While portfolio de-risking continues and the cryptos that have experienced the greatest growth will likely to plummet to the lowest in a climate of risk-off.

At present the value for these coins will depend on the way investors who are risk-averse behave in the short-term.

Final Thoughts

If you are looking to develop the metaverse has an array of investment options. The cryptocurrency community is one of the top places for investors who want to reap huge rewards.

There’s certainly a convincing argument to be made in favor of these currencies. In the end, real functionality is being designed for players because the majority of players do not care about whether or not games online are built upon the blockchain. If the overall interaction and gaming experience is just as good and there’s some money to be made from playing the game it’s not difficult to imagine how the growth rate of the various tokens could be enormous. Like any other digital currency asset the metaverse-inspired tokens have a risk.

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