Metaverse Tokens To Make A Comeback In Late 2024?
The post Metaverse Tokens To Make A Comeback In Late 2024? appeared first on Coinpedia Fintech News
Altcoins in the crypto market are making a gradual comeback, regardless of Bitcoin price failing to sustain above $60,000. Amid the recovering cryptocurrencies, GALA and MANA tokens showcase a reversal rally for a breakout run in the coming days. So, should you consider buying these Metaverse coins?
Meta Tokens On The Rise: GALA In A Bearish Pennant
Trapped in a falling channel, GALA reveals a bearish influence on the daily chart. The downfall accounts for a price loss of 81% since March 2024.
However, the bullish influence is on the rise, as evidenced by the bullish crossover in the MACD indicator. Furthermore, the VI lines in the DMI indicator are ready for a positive crossover, with the ADX line rising.
Currently, the GALA price is trading at $0.017, with an intraday Doji candle after the 2.74% surge last night.
In the bear channel, the bearish pennant in the GALA price is on the verge of a bullish breakout. This will challenge the overhead trendline to $5 with increasing chances of an extended rally.
Wedge Breakout Run For MANA
With a falling wedge in the MANA price action, the meta token is ready for a breakout run in the daily chart. Concluding the downtrend with a lateral shift, the underlying positivity is increasing.
Similar to GALA, the technical indicators, MACD, and DMI lines give bullish signals. Successively, the MACD and signal line, and the VI lines are ready for a positive crossover.
Currently, the MANA price is trading at $0.2729 with an intraday gain of 1.30%, forming a bullish candle.
Based on the Fibonacci levels, the breakout can challenge the 23.60% Fibonacci level at $0.3774 and the 50% level at $0.5163. On the downside, a slip under $0.25 will nullify the trend reversal opportunity for this Metaverse coin.
