Date: Fri, February 14, 2025 | 09:07 AM GMT
The cryptocurrency market has been on a downward trend since its November rally, but there are signs that an altcoins recovery might be on the horizon. Over the past 7 days, Bitcoin dominance has dropped by 2.07%, now sitting at 60.60%. This shift suggests that altcoins could be gearing up for a rebound.
Two of the most-watched gaming tokens, The Sandbox (SAND) and Decentraland (MANA), are showing signs of strength in weekly performance after enduring steep corrections of over 44% in the past two months.
Both tokens are now testing key resistance levels, and a breakout could signal a major recovery.
The Sandbox (SAND)
SAND has been stuck in a falling wedge pattern since getting rejected at $1.06 on December 4. After tumbling to $0.33, the token found support at the lower trendline of the wedge.
Now, SAND is trading at $0.4050 level and eyeing for a breakout. If it manages to break above resistance and confirm support on a retest, the next major obstacle is the 25-day simple moving average (SMA). A successful breakout could push the price up toward $0.55, marking a 35% potential gain from its current levels.
Momentum indicators are also turning bullish. The MACD is showing early signs of a bullish crossover, hinting that buying pressure is starting to build.
Decentraland (MANA)
MANA’s chart looks strikingly similar to SAND’s. After facing rejection from its $0.85 high in December, the token dropped to $0.25, where it found support at the lower wedge trendline.
Now, MANA is bouncing back and currently trades around $0.34. Like SAND, its MACD is beginning to turn bullish, suggesting that momentum could shift in favor of the buyers.
If MANA successfully breaks out of its falling wedge pattern and clears the 25-day SMA, it could rally toward $0.46, delivering a 37% potential upside from current levels.
What’s Next?
With both SAND and MANA nearing crucial breakout levels, all eyes are on their next moves. The broader market sentiment, Bitcoin’s dominance, and Ethereum’s price action will play a key role in determining if these gaming tokens can sustain a recovery.
For now, traders should keep a close watch—if breakouts happen, we could see a strong push to the upside for both tokens.
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