A cryptocurrency analyst identifying as CryptoFaibik on Twitter has mentioned SAND, AXS, ENJ, and MANA as the metaverse coins that look promising for June and July. CryptoFaibik explained his position using chart screenshots of each token with some graphical analysis.
Using a three-day SAND/USDT chart from Binance, CryptoFaibik revealed that SAND has been on a downward diagonal channel since November 2021. Since then, the price fell from $8.5 and has been in a steady fall, with intermittent pullbacks until its current price of $0.5. In the process, SAND lost about 94% of its value.
CryptoFaibik thinks that SAND’s fortune is about to change. He predicts a breakout to the upside that would see SAND rally toward the $2.2 price region.
CryptoFaibik predicts a similar trend evolution for AXS, which has displayed the same pattern with SAND over the same period. AXS dropped from $171.85 to $6.9 in a similar downward diagonal. AXS lost about 96%, but CryptoFaibik thinks the trend will reverse. He predicts an upward breakout will push AXS to around $29.82 within two months.
For ENJ, CryptoFaibik plotted a descending triangle from which the token has already made an initial breakout. After pulling back to retest existing support, the analyst thinks the price will bounce and head upwards. His projection for ENJ is $1.0076 from the current price of $0.3272. ENJ lost 93% of its value when it dropped from $4.999 in November 2021.
CryptoFaibik projects that MANA is on the verge of breaking out of a symmetrical triangle after a protracted downtrend. MANA fell from $5.9 in November 2021 to a current price of $0.45. The drop represents a 92% loss from which the analyst thinks the price will rebound. CryptoFaibik projects MANA will post a full recovery by climbing to $5.79 on the bounce.
Disclaimer:The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Read the full article here
Discussion about this post