Top Five Metaverse Coin To Trade in September 2022 – Coin24h.com
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Metaverse is a hybrid virtual reality. A virtual world where people can live, work, shop and do other things from the comfort of their homes in the physical world. Simply put, Metaverse is the future of the Internet.
Ever since Facebook changed its name to Meta, the value of these coins has risen in popularity. There are many Metaverse coins available, but not all are for trading.
Here we give you a list of the top 5 Metacoins to trade in September:
On the daily chart, the price of ApeCoin (APE) expects to gain 50% in September. The coin reached critical support near $4.71. After testing said level on July 17, the price zoomed 45% to swing highs of $7.33. The formation of a revolving top near a higher level, which is a bearish reversal pattern, set up a downtrend.
APE returned to the same level by forming several Doji candlesticks, indicating a consolidation.
The RSI (14) indicator is in the oversold area. New buying pressure may push the price forward.
We expect a short-term target of $7.0.
2 Axie Infinity (AXS) coin
Axie Infinity (AXS) has gained nearly 20% over the past month. It started the new trading session higher. In the last five days, the token’s growth was 14%. If the price breaks above the 21-day exponential moving average, we can expect the current uptrend to continue.
A double top formation near $19.70 led to a downtrend that started on August 13th.
Additional purchase participation would affect the required price. When the price moves higher, it can recapture the recent rally.
However, bullish claims were called into question if the price fell below the $13.0 monthly support.
In that case, another selling round could start below $10.0.
3 SushiSwap (SUSHI)
On the daily chart, SushiSwap (SUSHI) token has a short-term resistance near $1.60. Because it formed a “Tripple Top” pattern, a bearish reversal technical formation. The price fell almost 36% to test a low of $1.02.
Buyers found reliable support at the mentioned level as SUSHI confirmed on several bases at this level. The formation of a bullish hammer at the beginning of the September series had the bulls hopeful for a quick recovery.
An oversold RSI (14) indicator combined with a positive divergence calls for bullish momentum. It currently reads 37.
The market structure shows that the bulls are on the front foot. The first upside target is $1.40. Additional purchases cost $1.60.
A break below $0.90 would make the all-time low at $8.0 or below.
4 Enjin (ENJ) Coin
The Enjin (ENJ) coin on the daily chart was previously trading in a “Rising channel” pattern, making highs and lows. From the top of the channel, the price formed a Double Top structure and fell more than 35% from the peaks. On August 26, the token issued a breakdown of a “Rising Channel” formation with above-average volumes, confirming the upcoming downtrend.
However, the $0.50 price level acted as a short-term price barricade for the bears. If buyers are able to reverse this level, we expect the first bullish target of the upper trend line of the Rising Channel at $0.85, this would be a reversal level.
Since last week, prices have stabilized in a tight range, so volumes have decreased. If the price breaks below $0.49 on the daily chart, we can expect a sharp drop to $0.37, levels last seen in June.
5: Decentraland (MANA)
The price of Decentraland (MANA) declined by more than 20% in the previous month. MANA faces strong rejection near the $1.10-$1.00 resistance area. As the bulls did not stay above said level since June 2022.
We expect the price to recover quickly to immediate resistance around $0.85. Next, market participants could jump back to the psychological $1.0 level.
Currently, the price is hovering near the $0.70-$0.77 demand zone. It is a crucial trading area, if this range were to break it would wreak havoc.
In summary, we expect a recovery in the crypto space as the market is in technically oversold territory.