NFT sales totaled just over $1 billion in June, compared to a peak of $12.6 billion in January. BAYC NFTs with a total of 93 customers were down 8% from the previous week. Thus, it achieved sales of 11.7 million dollars. It seems that NFT coin projects are also under the influence of the decline in the cryptocurrency market. Today’s cryptocurrency market is still sideways. However, support for Bitcoin and Ethereum managed to hold. Some Metaverse cryptocurrencies have increased by more than 20% over the past few weeks. Thus, it signaled a slight bullish momentum.
Metaverse and NFT coin projects that you should have on your radar
As the cryptocurrency market continues to decline, some NFT coin projects are giving bullish signals. cryptocoin.com We have compiled 3 NFT tokens for you that you should have on your radar. Let’s examine together.
ApeCoin (APE)
ApeCoin (APE) is designed for use in the Bored Ape Yacht Club ecosystem. As an Ethereum-based NFT coin, its value has dropped 65 percent in the last 30 days. The ongoing cryptocurrency market crash has caused the token to depreciate far more than any other gaming-related asset. However, Bored Ape Yacht Club NFTs associated with the APE also lost tremendous value. As it is known, ApeCoin owners have the opportunity to participate in the management by voting in the BAYC NFT community. Now let’s take a look at the APE price.
APE will reverse course if it fails to overcome the $5.0 resistance level. If this happens, it is possible for the coin to return to the key support level of $4.20. However, low volatility is considered neutral to price action. In the medium-term, APE must surpass the $5.0 resistance level to rise once again. If this happens, the NFT coin should hold its price above the $5.0 barrier. Thus, it could reach the resistance level at $7.0.
Decentraland (MANA)
MANA, a Metaverse and NFT coin, is also among the cryptocurrencies you should keep on your radar. Despite the latest market drop, Decentraland is one of the largest projects in terms of market cap. It currently has a market capitalization of $1.6 billion. In fact, the buzz around the metaverse has helped MANA have a good bullish year in 2021. But the bear market shown below then resulted in all profits being wiped out. Let’s examine the MANA price levels.
NFT coin recently broke the resistance level at $0.94. However, he could not overcome the psychological barriers. It could bounce back to the $0.67 or $0.76 support levels once again. However, the bearish thesis will be invalidated if the Bulls break past the $0.94 resistance level and close above it. If this happens, the key resistance levels at $1.0 and $1.28 are possible targets for MANA.
Efinity (EFI)
The team behind Enjin created the Efinity Metaverse blockchain, which was released in August 2021. Efinity’s main function is to serve as an NFT highway for cryptocurrency projects and dApps. Blockchain, which allows EFI to have a separate economic structure, is a parachain built on Polkadot. Efinity and Enjin’s continued ecosystem development is a contributing factor to the latest price increase. Let’s look at the EFI price levels.
EFI recently lost the critical support level of $0.15. This price level will act as resistance for the next few days or weeks. The NFT coin has now found some support at the $0.13 price level. EFI needs to surpass $0.15 for a short-term uptrend to outweigh the downside momentum. It will be reached if it crosses to the next resistance level of 0.19.
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