The crypto market has continued to record a bearish price action by losing 2.27% in valuation over the past 24 hours with a total trading volume of $68.25 Billion, a change of +15.73%. Moreover, the Bitcoin price has failed to hold its value above $57K and has lost 2.32% within the past day.
On the other hand, the Metaverse category has recorded a significant rise in buying and selling pressure, highlighting increased price action. Planning on investing in Meta tokens, but concerned about its future prospects?
Dive in as, in this article, we have covered the price analysis and potential short-term price targets of the top 3 Metaverse tokens that have the potential to record massive gains during the upcoming bull rally.
STX Price Successfully Retests Its Crucial Support Level:
Despite recording a correction of over 3% within the past day, the Stacks price has surged 20.89% over the past week, highlighting a rising bullish sentiment in the market. Moreover, with a market cap of $2.326 Billion, this altcoin has secured the 32nd position in the global crypto-list.
The Relative Strength Index (RSI) has displayed a sharp rise above its oversold range. However, it has failed to surpass its mid-point, indicating a bearish influence in the crypto space.
On the other hand, the SMA indicator records a bullish crossover in the 1D time frame, suggesting a mixed sentiment for the altcoin in the market.
If the market pushes the STX price above its important resistance of $1.675, the bulls will regain momentum and head toward its upper level of $2.135 this month. Conversely, if the bears overpowered the bulls, the Stacks price will prepare to retest its low of $1.265.
Floki Price Displays A Neutral Price Action:
The Floki price has failed to surpass its important resistance level, resulting in it recording a correction of over 7% within the past 24 hours. Notably, the Floki memecoin has been hovering close to its resistance/support level for over seven days, highlighting a weak bullish sentiment in the crypto space.
The EMA 200-day constantly acts as a resistance to the FLOKI price chart in the 1D time frame, suggesting a strong negative influence.
The technical indicator, MACD, displays a constant flatline, indicating a weak price action. Further, with its averages recording a neutral trend, the Floki memecoin shows uncertainty in its future price movement.
Suppose, the bulls regain momentum and the Floki price breaks out of its important level, in such case, the memecoin will prepare to test its upper resistance of $0.00021435. However, bearish action could pull the price toward its support of $0.00010190.
Render Price Hints A Potential Bullish Break Out:
Amid increased bearish sentiment in the crypto space, the Render price continues to record a negative price action by losing 30.39% to its value over the past month. However, the altcoin is trading at a discount of 57.12% from its ATH, making it a potential entry point for the upcoming bull rally.
Further, the RNDR price has continued to trade with a descending channel pattern since June, highlighting a long-term bearish sentiment. Positively, the price hovers close to its resistance trendline, hinting at a potential bullish reversal.
Negatively, the technical indicators, SMA and RSI display a strong bearish price sentiment, suggesting a weak bullish influence this week in the cryptocurrency market.
If the market regains momentum, the Render price will test its resistance trendline. Moreover, in case of a breakout, this AI token will head toward its upper level of $9.450 this July. Conversely, if the bears continue to dominate the market, the Render token will test its low of $5.30.
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