The NFT coin market started to move again towards the end of the year with new staking announcements. The ongoing downtrend of the market offers ideal deals at discounted prices. In this article, let’s take a look at the price targets of the 5 NFT coins that are technically giving green signals.
5 NFT coins that need close monitoring before entering 2023
Apecoin (APE)
Apecoin’s decline recently found support at $4.31. Its price has lost around 90% since the ATH level at $39.4. Technical analysis shows that the price is following the seven-month downtrend line. Also, the December 11 price action broke this long-standing trend line. At current levels, it signals a trend reversal. Analyst Brian Bollinger expects Apecoin price to rise to $27.6 by mid-2023. cryptocoin.comAs you follow, Apecoin opened staking pools this month.
Chiliz (CHZ)
The popular fan token has been in a downtrend for the past two years since its peak. During the process, the ATH level dropped 84.73% at $0.891. This drop forms a falling wedge pattern on a monthly period. This pattern, which usually results in a bullish trend, will trigger a significant rally upon the break of the resistance trendline. CHZ is currently trading at $0.1411. The formation reveals a pattern that will allow it to reach $1 by 2023.
Theta (THETA)
Similar to APE and CHZ, THETA price has been down for a long time. So far, the ATH level has lost 94.82% at $15.9. As of December, it is trading around $0.8. Technical analysis shows that the NFT coin price has been moving sideways for the past seven months. This indicates that the bearish momentum is finally exhausted. If THETA price approaches the $0.82 support, the potential growth target for 2023 will be $2.55. Also, indicators point to the next demand zone at $4.4. In such a case, THETA price will use $4.4 as a strong support base.
Sandbox
Sandbox price made a V-top return from the ATH level at $8.44. Thus, it fell 93.49% to $0.55. It is also about to break the $0.574 region, which shows the strength of the bears. SAND price will head towards $0.55 after this point. If it sustains in the $0.55 or $0.18 region, there is an attempt at a recovery. This recovery is leading the price to $2.5 and then $3.5.
Decentraland (MANA)
MANA price slumped as low as $0.38 amid the ongoing downtrend. This means 93.56% depreciation from the ATH level. The NFT coin is currently retesting the June 2021 lower support at $0.37. If it breaks this support, the bulls will move for a new rise. Analyst Bollinger sets a price target of $1.7 for MANA, up 363% through the first half of 2023.
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