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Will Apple’s Metaverse news send Decentraland (MANA) and the Sandbox (SAND) prices skyward?

Will Apple's Metaverse news send Decentraland (MANA) and the Sandbox (SAND) prices skyward?

January 24 brought interesting news to the metaverse. Apple’s mixed-reality headset is expected to be released later this year. While the headset is unlikely to be a fully open virtual world like Decentraland or The Sandbox, Apple users will be able to use video conferencing and meeting rooms. 

On the one hand, Apple is unlikely to allow non-Apple ecosystem objects to interact with any of their devices. As a result, the release is unlikely to have a positive impact on metaverse-related tokens.

The price of Decentraland has broken through the 250-day resistance line. 

Since January 1, the Decentraland price has risen at a rapid pace. It has increased by 150% so far.

On January 21, the MANA token reached a high of $0.78. This resulted in a breakout from a descending resistance line that had been in place for 250 days, in addition to a new yearly high. However, the Decentraland price has yet to begin a significant upward movement following the breakout and is still hovering around the line.

If the price validates the line as support, it may begin to rise toward the next resistance level at $1.15. If it does not, the price may fall toward the 0.382–0.618 Fib retracement support levels between $0.59 and $0.48.

The six-hour RSI bearish divergence suggests that the latter is slightly more likely.

Fib Resistance Rejects the Sandbox Price 

Since January 1, the Sandbox price has increased 110%, and on January 15, it broke out from a descending resistance line. Seven days later, it reached a high of $0.85.

The RSI, like MANA, generated a bearish divergence (green line) over the last 24 hours, which could spark a fall. Furthermore, the 0.382 Fib retracement resistance level at $0.80 was rejected, resulting in a long upper wick (red icons). 

If the SAND token price manages to break through the 0.382 Fib resistance level, it may rise to the next Fib level at $0.93. If it is rejected, the price is likely to fall toward the $0.62 support area and the descending resistance line.

To sum up, the S&P and MANA prices both broke out of diagonal levels but have yet to initiate significant upward movements. Whether they break out from their nearest horizontal resistance levels or are rejected instead may determine the future trend’s direction.

 

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