Metaverse top 5 cryptocurrencies to explode in 2023: Metaverse market hits popularity in 2022, showing global investors how useful it is. Ho...

Top 5 Metaverse Cryptocurrencies to Break Out in 2023



Metaverse top 5 cryptocurrencies to explode in 2023: Metaverse market hits popularity in 2022, showing global investors how useful it is. However, given the growing adoption of Web3, the current bear cycle has severely devalued these tokens; they may show great potential in the near future.


Ape Coin (APE)


Source - Trade Perspectives


In an ongoing downtrend, the Apecoin price is down 90.45% from its all-time high of $39.4. However, over the past seven months, the token price has shown stability under the influence of a descending trendline.


As of press time, the price of APE is trading at $3.6 and is gradually approaching the upper trend line. A bullish breakout of this dynamic resistance could propel the price up by 150% and reach $9.16.


Theta Networks (THETA)


Source - Trade Perspectives


Theta coin has been on a steady decline since April 2021. The price is down 95.1% from its all-time high of $15.9 and is currently trading at $0.779.


However, over the past seven months, THETA price has mostly traded in sideways rallies, suggesting that the bearish momentum has run out. If the price can sustain above the $0.82 or $0.575 support levels, a potential recovery cycle could take the coin to $1.7 by mid-2023.


Sandbox (SAND)


Source - Trade Perspectives


In the V-top reversal, the SAND token price dropped 94.4% from its all-time high of $8.4 to $0.44. However, the token price has been oscillating within a descending channel for the past four months.


In theory, this bullish continuation pattern could support a strong directional bounce after breaking a resistance trendline. This breakout could take the price to the $1.5 level.


Axis Infinity (AXS)


Source - Trade Perspectives


AXS price shows a textbook example of a V-top reversal from the all-time high of $165.37. In the ongoing downtrend, the price is down 95.77% from the peak and is currently trading at $7.05.


However, sideways price action suggests that the bearish momentum is starting to fade. If the Axie Infinity token manages to bottom out around $6 or $5, a bullish move back to $20 by mid-2023 is possible.


Decentralization (MANA)


Source - Trade Perspectives


Following a steady decline from November 2021, the price of the MANA token plummeted 94.80% from its all-time high of $5.90. However, the RSI indicator, which reflects the strength of price action, is falling into oversold territory.


The RSI reading on the weekly chart is 27%, suggesting that selling activity is heavily overextended or discounted. Therefore, if the price can sustain above $0.23, a possible recovery could encourage a jump to $0.7 by mid-2023.