Top 5 NFT Coins to Buy Before Entering 2023
Published 10 minutes ago
Top 5 NFT Coins to Buy Before Entering 2023: In 2022, the NFT market received immense attention from investors, which caused the coins associated with it to skyrocket in a short period of time. However, the ongoing downtrend in the crypto market dropped these coins significantly and gave big discounts to interested buyers.
Apecoin (APE)
Source- Tradingview
As a result of the ongoing downtrend, the Apecoin price dropped 89% from its all-time high of $39.4 to now trade at $4.31. Furthermore, the technical chart showed that prices have fallen in response to a downward trend over the past seven months.
On December 11, the altcoin broke this long-term trend line, indicating an early sign of a trend reversal. The potential growth program encourages a bullish rally to $27.6 by mid-2023.
Chiliz(CHZ)
Source- Tradingview
Chiliz(CHZ) price fell for almost two years, losing 84.73% from the highest level of $0.891. However, this decline shows the formation of a falling wedge pattern in the monthly time frame chart.
This bullish pattern is set to trigger a significant rally when the resistance trendline breaks out. The coin is currently trading at $0.13, but completing this pattern could push prices to reach $1 by the end of 2023.
Theta (THETA)
Source- Tradingview
From the All-Time High of $15.9, the ongoing downtrend THETA price dropped 94.82% to today’s price of $0.822. However, this altcoin has been sideways for the past seven months, suggesting that the bearish momentum has been exhausted.
If prices reach near the $0.82 support, the trend-based Fibonacci extension suggests that potential growth could reach $2.55 by the first or second quarter of 2023. Moreover, the indicator shows the next supply zone at $4.4.
Sandbox (SAND)
Source- Tradingview
A V-top reversal from the $8.44 all-time high plunged SAND prices by 93.49% to reach the $0.55 mark. Furthermore, the altcoin is showing a break from the $0.574 support indicating that the sellers may resume the ongoing downtrend.
Thus, the collapse could drop the price by 71% to reach the current market cap of $0.55.
However, the holder may witness a recovery attempt if the SAND price shows sustainability above the long-term support at $0.55 or $0.18. This recovery could push the price close to the supply zone of $2.5, followed by $3.5.
Decentralized Land (MANA)
Source- Tradingview
Amid the ongoing downtrend, MANA price lost 93.56% from its all time high and fell to today’s price of $0.38 mark. The coin price is currently testing the June 2021 bottom support of $0.37.
Thus, the altcoin could witness a significant rebound if the buyers were able to maintain this old support. The potential target for MANA price could be 363% higher $1.7 during the first half of 2023
The content presented may include the author’s personal opinion and is subject to market conditions. Do market research before investing in cryptocurrencies. The author or publication has no responsibility for your personal financial loss.
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