The increasing FUD in the crypto market has limited bullish growth in the majority of major cryptocurrencies. However, this ongoing consolidation phase could follow buyers to recuperate the exhausted bullish momentum and resume a sustained uptrend. Thus, today we’ll analyze some of the best gaming crypto coins to determine potential recovery opportunities for the coming month.
The Apecoin price continues its three-weeks-ling sideways trend within a pennant pattern. Under the influence of this pattern, the prices resonate within two converging trendlines, coiling up for a massive price swing.
Thus, a breakout from either of the pattern’s trendlines will release APE price from ongoing uncertainty and trigger a directional rally. By press time, the coin price trades at $4.1 with an intraday gain of $1.01%.
Anyhow, the bearish pennant pattern favors the continuation of the prevailing downtrend, and thus a potential breakdown from the lower support trendline will accelerate the selling pressure and plunge the APE price 18% down to hit the $3.3.
On a contrary note, a bullish breakout from the pattern’s resistance is possible which will signal signs of a trend reversal
Amid the increasing uncertainty in the crypto market, the Decentraland coin witnessed a minor correction within two converging trendlines. The coin price resonating between these falling trendlines indicates the formation of a falling wedge pattern.
On March 28th, the coin price breached the resistance trendline of this pattern as a sign to resume a bullish recovery. Today, the MANA trades at $0.59 with an intraday gain of 3.84%. However, the completion of this pattern should lead 13% higher to surpass the $0.64 crucial resistance.
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Over the past two months, the Axie infinity coin price has been in a steady downtrend under the influence of a resistance trendline. The coin price has turned from this resistance several times indicating the sellers are actively selling at bullish swing highs.
As of now, the AXS price trades at the $8.46 mark with an intraday gain of 2.55%. Anyhow, if the crypto market gets back on a recovery track, these buyers should rechallenge the downsloping trendline to regain trend control.
A potential bullish breakout from the resistance trendline will indicate a switch in market sentiment from selling on rallies to buying on dips. This breakout could encourage the AXS price to hit the $13 resistance, registering a potential rally of 63%.
The post Top 3 Gaming Crypto Coins To Boost Profitability In April 2023 appeared first on CoinGape.
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