As the leading cryptocurrency, Bitcoin, fluctuates within the $16,000 to $17,000 range, its movement continues to impact altcoins. Influenced by both macroeconomic conditions and internal developments in the crypto ecosystem, prices are experiencing downward pressure.
This trend has also impacted metaverse coins, which were among the most popular in 2021. Let’s take a closer look at the latest price situations for Gala Games (GALA), Ceek VR (CEEK), The Sandbox (SAND), and Decentraland (MANA).
GALA and CEEK
As of the current update, GALA holds the 147th position among coins with a market value of $130.1 million and is trading at $0.0186. GALA has seen a regression of 1.6 percent in the last 24 hours and a 10 percent decrease over the past week.
Analyzing the 4-hour charts, the $0.0178 level is acting as a support for GALA, with $0.0281 as a resistance level. Analysts also note that $0.02 is emerging as a strong resistance on the charts. Should GALA maintain the $0.018 level, an upward move in BTC might lead it to test the $0.020 level.
Additionally, CEEK, which has garnered significant interest from Turkish cryptocurrency investors, is currently trading at $0.0796. With a market capitalization of $64.1 million, CEEK ranks 23rd in the metaverse category according to CoinMarketCap data.
Analysts suggest that major stock market listings for CEEK have not yet occurred, and such events could lead to a notable increase in its price. However, investors are advised to conduct their transactions based on their own research and not solely depend on the anticipation of large stock exchange listings.
SAND and MANA
At the time of this update, SAND is trading at $0.4468, having experienced a 6.5 percent decrease over the last week. As the 5th largest metaverse coin by market capitalization, SAND has shown relative stability in the past 24 hours.
On the 4-hour charts, SAND is trading with support at $0.4186 and resistance at $0.6412. There appears to be a consolidation range between $0.50 and $0.42 for SAND. Analysts suggest that if there is a broader recovery in the cryptocurrency market, the SAND price might test levels above $0.50.
Additionally, MANA, one of the most prominent metaverse coins, is currently trading at $0.3306. Analysts have identified the $0.29 level as a support and $0.42 as a resistance level for MANA.
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