Technical Analysis of NFT Tokens – MANA, SAND, AXS, GALA & XTZ

The crypto space from the past couple of days is displaying a significant upward trend which needs to be maintained ahead. The top 2 cryptos are on the path towards their crucial resistance levels, most of the altcoins also appear to follow them. Also, the popular NFTs which had faded of-let, display a huge possibility of recording a bullish close and opening the weekly trade on a bullish note. 

Decentraland MANA Technical Analysis for Short-Term 

Source: Tradingview

• Decentraland price is attempting very hard to ease out the bearish trend and try to stabilize a minor uptrend
• The asset is hovering within small regions for the past couple of days, leaving the resistance and support levels compressed and hence the Bollinger Bands
• However, the price currently resides within the upper bands and hence manifest the possibility of ranging high as an outcome of the Bollinger band squeeze
• With a breakout, the MANA price may initially test the upper and immediate resistance around $2.7 which may lay the path towards the upper targets.
• The Decentraland MANA price at the press time is around $2.46 with a jump of 3.37% with a market capitalization of $4.5 billion and a circulating supply of 1,840,855,768 MANA

Read More: Decentraland(MANA) Technical Analysis: MANA Price in Decisive Phase, Will it Make it or Break it?

The Sandbox SAND Technical Analysis for Short-Term 

Source: Tradingview

• After a gigantic spike, from the past couple of days, the SAND price is currently consolidating hard within a bullish flag 
• Breaking from the bullish flag may ignite a notable rally towards the upper resistance close to $3.4. 
• Similar to a previous couple of attempts, the price may yet again witness a rejection here that may keep the price swinging very close to the resistance.
• As the volume has reduced significantly, the pace of a rebound may also be lowered, eventually compelling the price to continue with the consolidation
• The SAND price at the press time is $3.18 with a jump of 3.15% and a market capitalization of $3.6 billion and a circulating supply of 1.14 SAND

Read More: The Sandbox(SAND) Technical Analysis: SAND Price Could Surge Another 15% to Close Day’s Trade!

Additional Read: Latest happenings in the Metaverse and NFT world at Top Crypto News Weekly.

Axie Infinity (AXS) Technical Analysis for Short-Term 

Source: Tradingview

• Unlike the other two, the AXS long-term forecast is still pretty bearish as the asset is constantly following constant lower highs and lows
• After multiple rejections of breaking through the descending triangle, yet another attempt is on the verge to get nullified
• The price may eventually slip towards the lower support yet again and failing to flip here may lead to another drain below $40 which may be unlikely
• Therefore, the price may attempt hard to maintain within the triangle and close the weekly trade above the danger levels
• The AXS price at the press time is around $50.77 with a jump of 2.54% with a market capitalization of $3.1 billion and a circulating supply of 60,907,500 AXS

Read More: Axie Infinity(AXS) Technical Analysis: Will AXS Price Break Through the Crucial Levels? 

Tezos (XTZ) Technical Analysis for Short-Term 

Source: Tradingview

 

• Manifesting extreme bullish momentum, the XTZ price has broken from the symmetrical triangle and raised above the immediate resistance levels
• However, the asset is facing slight exhaustion here, as the asset volume has squeezed a little mainly dominated by sellers
• The asset may consolidate here for a while before taking off towards the next target close to $3.4. 
• The XTZ price at the press time is around $3.2 with a jump of 5.24% with a market capitalization of $2.8 billion and a circulating supply of 888,018,878.21 XTZ

Read More: Tezos(XTZ)Technical Analysis: XTZ Flashes Huge Bearish Signal, May Drop Nearly 25% Soon!

Gala (GALA) Technical Analysis for Short-Term 

Source: Tradingview

• GALA price after a couple of fakeouts in both the directions is consolidating healthily within the same resistance and support zones
• Slightly elevated from before, the support levels currently stand close to the middle bands pointing towards a breakout during the weekend
• However, the buyers are a little exhausted while the sellers remain passive and hence the volatility id decreased a bit
• With a slight change in the market trends, the price may again test the upper resistance but whether it will sustain at these levels is mainly dependent on the volume induced at that time
• The GALA price at the press time is around $0.2314 with a jump of 4.71% with a market capitalization of $1.6 billion and a circulating supply of 6.98 billion GALA

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].
The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.

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