As the cryptocurrency market sees another downtrend, buyers are desperate for a reversal to avoid another collapse. Amidst all this commotion, gaming tokens are slowly preparing for a trend reversal with a rebound next week.
With many altcoins in the gaming sector starting to turn around, the overall sector recovery is poised to be strong.
So, fuel the growth of the gaming sector and find out which coin will break new standards. Here are the top five gaming tokens that could see the biggest gains next week:
Immutable (IMX)
Immutable, Ethereum’s layer 2 solution, is growing in popularity and gaining popularity among altcoins. However, the continued decline in IMX price reflects a strong correction, testing the bullish dominance of the 50-day EMA.
The current IMX price represents a critical juncture that will determine the price trend for the coming week. The possibility of a double bottom reversal above the important 38.20% Fibonacci level could result in a bullish week. Additionally, there is a lack of volume support for the ongoing downtrend, increasing the likelihood of a reversal.
If the bulls manage a reversal, IMX price could rise 30% to $2.50.
Axi Infiniti (AXS)
The AXS price trend, which has shown signs of recovery over the past few months, is maintaining an upward trend on the daily chart. However, the recent decline has broken the support trend line and warns of a decline.
Despite the tense trendline, AXS price is reflecting a potential Morningstar pattern that could be poised to resume the uptrend. Moreover, support at the 38.20% Fibonacci level could be very important for such a bounce.
So the potential jump could see Axie Infinity jump 30% to $10.
Sandbox (SAND)
Despite being a metaverse and a gaming token, the price of SAND has been under pressure over the past few weeks. Additionally, the altcoin continues its downward trend on the daily chart, challenging the dynamic support of the 200-day EMA.
However, as a double bottom is formed at the 200-day EMA, there is a possibility of a bullish reversal. Additionally, a price rejection candle below the 50% Fibonacci level strengthens the possibility of a reversal.
On an optimistic note, buyers may be able to break the indirect resistance trend line this week. This could lead to a breakout rally testing $0.62.
Decentraland (MANA)
Similar to the sandbox, Decentraland shows a downside phase, but buyers can block the decline at the 200-day EMA. The lateral movement also shows a potential reversal along with the bullish divergence present in the daily RSI line.
With the 50-day EMA and 200-day EMA consolidating, MANA price could be poised for a breakout trend. Therefore, a high momentum breakout trend is likely in the coming week, which could result in MANA price reaching $0.56.
GALA
In line with a possible recovery in the cryptocurrency market next week, GALA price will begin a high momentum breakout rally. Additionally, bullish demand increased at the 61.80% Fibonacci level, signaling a potential bull market.
Like most other coins, GALA token’s RSI divergence increases the likelihood of a trendline breakout. In this case, the altcoin highlights a buying opportunity at the current price and anticipates a potential bounce to $0.030.