Some of the top metaverse coin projects such as Decentraland (MANA), Gala (GALA) and Axie Infinity (AXS) have witnessed a significant decline in the last two months. However, this overextended sell-off in the majority cryptocurrency market has brought potential buyers back to the market and has created little uncertainty among investors. Here are the analyst views and critical levels for Gala, Mana, AXS…
Will mana 2 dollars exceed the psychological limit?
As we have reported as Kriptokoin.com, the massive declines in the global crypto money market have also hit metaverse coin projects. However, the stir in the last two days has caused investors to turn their attention back to the cryptocurrency market. Consolidation can bring some great entry opportunities for buyers who study and engage in price behavior. In the past two months, Decentraland(MANA) price has slumped below the declining trendline effect, dropping to the $0.63 level. The downtrend caused the MANA price to drop nearly 77.6% from the March 31 high of $2.85.
Amid the ongoing uncertainty in the cryptocurrency market, MANA price followed a sideways path, giving the overhead resistance trendline a chance to rest a few more times. However, on May 31st, the altcoin witnessed an 8 percent jump in its intraday level and pierced the descending trendline. A one-day candle close above the trendline could push the MANA price up another 90 percent to the psychological $2 level.
This level can be an entry opportunity for those who want to invest in GALA
Looking at GALA, GALA price started the new week on a bullish note after a steady two-month decline and eight straight red candles on the weekly timeline chart. . However, this drop took the altcoin to a low of $0.0494, or about 83 percent. Also, the two-week consolidation in GALA price reacted to a short descending trendline, limiting its bullish activity to a specific range. However, the altcoin rallied about 7 percent on May 31, marking an upside break from the resistance trendline. The anticipated retest could offer interested traders an opportunity to enter at the $0.12 level.
If AXS breaks this critical resistance level, a new rally can start
Axie Infinity (AXS) buyers fiercely defended the $44.5 support from late January to April. However, increasing selling pressure in the crypto market triggered a bearish breakout from this support on April 25. The resulting drop brought AXS price down 64.4 percent to $17.16. Also, over the past two weeks, metaverse coin buyers have formed a minor consolidation with multiple unsuccessful attempts to break through the overhead resistance of $25-26. However, AXS price bounced back from the $17.65 support and started an intraday rally of 8.2 percent. The altcoin is currently aiming to break the $26 resistance again. If buyers manage to break this resistance, traders can expect their target at $35 or $45.5.
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