Due to the short-term pullback in Bitcoin, two popular metaverse/NFT coins may be approaching the low-risk entry zone. To review his technical analysis, let’s take a look at the market analysis of investment expert Deron Wagner.
These 2 NFT coins are approaching the opportunity zone
Investment expert Deron Wagner is assessing the levels ahead for investors who missed the short-term Bitcoin leap that showed up last night. Bitcoin (BTC) price bounced back to new support at the 50-day MA of $42,700 with momentum on Feb. 14. According to the analyst, this move of Bitcoin provides suitable entry positions in the two cryptocurrencies currently prepared for a potential buy entry in the NFT coin market. The altcoin projects that we will examine in the continuation of the article will be Gala Games (GALA) and Request (REQ).
Since the collapse of Bitcoin on January 24, the NFT gaming and metaverse industry has been displaying extraordinary relative strength. The NFT market may witness more institutional adoption during the year due to its direct link to the BTC price and high growth potential. As it is known, metaverse-focused cryptos MANA and SAND are two volume giants that most investors are familiar with. On the other hand, GALA has been in a quiet accumulation period in recent weeks and has now pulled back to offer a low-risk buying opportunity close to the 50-day MA support. Another Ethereum-based crypto Request (REQ), NFT is not directly related in the gaming/metaverse industry, but its recent collaboration with SAND will lead us to see itself in this trend, according to the analyst. As a result, Wagner considers GALA and REQ tokens to be in the zone of opportunity, based on technical analysis.
What are GALA and REQ?
- Request (REQ) is an Ethereum-based decentralized payment system launched in 2017 where anyone can request and receive payments in secure ways. It aims to eliminate the need for third parties to provide a cheaper, more secure payment solution that works with all global currencies.
- Gala Games (GALA) describes itself as “a platform that aims to take the gaming industry in a different direction by giving players back control of their games”. Gala Games’ mission is to build “Blockchain games you’ll really want to play”. The project wants to change the fact that players can spend hundreds of dollars on in-game items and countless hours spent playing the game that can be bought from them at the click of a button.
cryptocoin.com You can review the metaverse guides that we have prepared as part-1, part-2 here.
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