Last week, NFT and metaverse tokens failed to give bullish signs. Let’s see if they have recovered with the recent bounce! Author: TraderScarpa Editor: YousraAASheikh
price is still ranging. It may boost the rise of altcoins when it bounces from support. However, BTC is right at the resistance level currently, which means it will also drag the altcoins down. Therefore, taking some profits on any longs is advised.projects, those did not look very bullish last week. Let’s see if they have recovered with the market on this bounce.bulls held the demand zone at $0.7 again.
This is a must-hold area. If buyers cannot hold it, then the price will likely test the $0.75 lows again. The price was rejected at a supply zone around $0.95. Therefore, to be bullish it needs to clear this zone.seems to be bottoming out. This is since buyers reclaimed wick support from around $0.00035 to $0.0003689.
If you are very bullish and looking to go long, a $14.13 reclaim is a good play. Caution is advised though, as the price is now in a 4h downtrend. If there is a breakout above $16.21, AXS will likely move to $18. However, it is ranging until proven otherwise, therefore looking for reversion to the mean strategies is the best play.upside momentum is decelerating with the market structure break to the downside.
MANA, GALA, AXS, and APE are currently ranging. Therefore, it is good to look to fade any move into the extremes. Currently APE is at its upper extreme , and GALA is close to its lower extreme . These could therefore be good fades. AXS and MANA are in the midrange, taking a position there is not advised.
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