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Metaverse has seen an increasing fan base each day, and the industry appears to have a bright future as we approach year-end. Today, the top Meta coin displayed positive price action from the critical supports, triggering new rallies.

The latest retracement phase in Decentraland resulted in a nearly 50% discount for MANA token investors. That had the alt exploring the lower psychological zone of $3. Furthermore, the technical chart unveils a declining channel formation on the four-hour chart.

MANA Price Broke a Sinking Channel Pattern

MANA/USD surged about 12% today. With that, the metaverse coin experienced a bullish breakout, overcoming a sinking channel formation. For now, the token hovers in a retest phase that might offer a lucrative entry opportunity and authorize if the price breakout was legit.

Meanwhile, the $3.65 resistance and 200 exponential moving average are near the coin’s price. Safe traders may need to wait for MANA to breach this area for a rally confirmation. The RSI (60) indicated a remarkable recovery cornering Decentraland’s price actions.

SAND/USD – A Short Price Consolidation

Sandbox (SAND/USD) has been inside a retracement phase that had its price dropping to 0.5 FIB retracement mark ($4.5). The pullback resulted in a 40% loss for investors. For now, the SAND price tries to maintain beyond the support area.

Sandbox has resonated in $5.7 – $4.5 price for nearly fourteen days, forming a constricted range on the price chart. The token might present a lucrative entry opportunity with a breakout from either direction.

Nevertheless, the RSI shows a considerable bullish divergence on the chart, indicating a bullish range breakout.

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ENJ/USD Resonates in a Sinking Wedge Pattern

ENJ has had its movements attempting to maintain beyond the support at 43.5. Nevertheless, the bears took the coin beneath this footing, confirming a deeper retracement phase.

The alternative coin extended its downward actions. That way, ENJ dropped towards the support floor of $2.2, translating to a 55% value loss. Moreover, the chart indicates a sinking wedge pattern on the four-hour chart.

Meanwhile, ENJ price resonated inside two plunging trendlines of the pattern, ready for a massive breakout towards either line. Also, the RSI displays an enormous bullish divergence on the chart, indicating a bullish pattern breakout.

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