Before we begin the article, let’s take a look at the Bitcoin rainbow chart.
From the chart, we can see that from the end of 2022 to the end of 2023, the price of Bitcoin has been in the special sale range. Lao Gou started shouting at the beginning of last year that it was the early stage of the bull market, asking everyone to buy boldly and not to be afraid of being trapped. He also said many times that the big thing is coming later. Now, no matter which day you buy Bitcoin in 2023 and hold it until today, you have outperformed 90% of investors in the market. Bitcoin is now well-deserved as a weathervane in the crypto market.
Today I will continue to share SAND, the second metaverse concept currency that was very popular in the last bull market.
$SAND Since being listed on Binance, the lowest price reached $0.0289, while the highest price exceeded $8.48, resulting in an increase of about 293 times. In this bull market, SAND's price fell below recent lows to around $0.2. However, just a few weeks ago, after reaching its low, SAND's price chose to go upwards after several weeks of consolidation and broke through the previous high point of $0.98 at the end of the bear market, reaching around $1.06. However, in the past three weeks, the coin price has not stabilized and has seen a significant pullback, indicating that there is still a lot of selling pressure around $1. However, the ability to break through the previous two-year high shows that the pressure level has been overcome. After price adjustment, there is an opportunity to create new highs in recent years.
From the chart, it can be seen that $0.32 is the starting point for the weekly level surge at the 30MA. In the short term, as long as SAND does not fall below $0.32, the trend will continue to be upwards. The next target for SAND's price, if it breaks above $1.06, will be to test the weekly level pressure area of $1.4-1.5. This is also the washout area where the bear market's manipulative players chose to decline again after several weeks of consolidating.
At the current price, if SAND reaches $1.06, the yield is approximately 192%. If the price reaches $1.4, the yield is approximately 254%. If the price falls below $0.32, triggering the stop-loss, the loss will be about 42%.
Today, I share the second most popular game sector coin from the last bull market, AXS.
AXS reached a peak price of $165 during the last bull market. After being listed, the lowest price was $0.12, resulting in an astonishing increase of 1375 times. Aside from MEME coins, the explosive popularity of the gaming sector in the last bull market made many people wealthy, while also causing many investors who chased prices to nearly lose all their capital. In this bull market, AXS's price dropped to a recent low of $3.83. However, after reaching this low, AXS experienced several weeks of consolidation, and the price once rose to $10.35. But like SAND, it has seen a significant pullback in recent weeks, nearly erasing previous gains.
From the chart, it can be seen that AXS started to rebound after the spike at $5.28 last week, and this price is also close to the previous weekly level surge starting point. Therefore, the short-term support for AXS is near $5.28.
If AXS continues to rise, it must first break through the weekly level high of $11.1 from the previous decline. At the current price, if AXS reaches $11.1, the yield is approximately 173%. If the price breaks through $11.1, AXS will continue to test the high of around $13.9 from early last year. If AXS reaches $13.9, the yield will be 217%. If AXS reaches the stop-loss position of $5.28, the loss will be approximately 17%.
$AXS Unlike other coins, AXS's current supply has increased nearly fourfold compared to when it was first listed. Even if it can reach the same level of frenzy as during the last bull market, the price can only reach $41.25. However, AXS's token unlock will continue next year, and the quantity is very large. Therefore, unless multiple super whales speculate on AXS, the possibility of the coin price returning to its peak is almost zero.
In the early stages of the altcoin season, the old dog tries to update more popular coins from the last bull market for everyone's reference. Of course, some popular coins in this bull market are still held by old dogs, and I believe the upcoming market will bring us more surprises.