Metaverse tokens SAND and MANA signal recoveries as NFT sales volume jumps 40%

The non-fungible tokens (NFTs) sector has seen prolonged underperformance as trends such as meme coins, RWA, and AI dominate the cryptocurrency marketplace.

However, the emerging bull run, where Bitcoin stares at the $100,000 milestone, has invigorated each sector.

CryptoSlam data shows NFTs performed well over the past few sessions. Non-fungible tokens recorded approximately $158 million in sales volume within the last week.

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NFTS MAINTAIN STRONG MOMENTUM WITH $158M WEEKLY SALES NFT sales volume hit $158 million this week, reflecting sustained interest despite a 12.7% drop from last week’s $181 million. Ethereum dominated in sales at $49 million, while Solana led in buyer activity with a 58%…

1:50 PM · Nov 24, 2024

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While that reflected a 13% dip from $181 million the week before, the figure remained well beyond early November volumes.

NFTs had $93 million in weekly sales volume between November 4 and 10.

Thus, the current $158 million weekly sales volume reflects a 41.14% jump from earlier this month.

Amidst the developments, investor and trader attention switched to Sandbox (SAND) and Decentraland (MANA).

The duo recorded significant uptrends over the weekend, suggesting bullish comebacks. Let’s find out more.

SAND eyes $1.02

The altcoin traded near $0.772 at press time. It climbed from the daily low of $0.5183 to $0.84 before a slight decline to current prices.

SAND gained over 110% on its weekly chart and formed a massive god candlestick over the weekend.

That saw it entering the bullish range, signaling an upside resurgence.

Furthermore, its trading volume exploded from around $200 million to $5.39 billion during this publication, signaling a significant trader sentiment change.

Currently, SAND’s price tests the resistance at the $0.8198 – $0.8993 range. Bulls have failed to overcome this hurdle over the past 24 months, making it a vital zone.

Meanwhile, this could be the perfect time for buyers to push past the resistance.

Nevertheless, Sandbox could record a slight dip – somewhat usual after robust gains and hitting a significant hurdle.

Thus, the alt could decline briefly following the descending wedge breakout.

Meanwhile, a retest could welcome swift surges above the 200-day moving average at $1.02. That would translate to a 32% increase from current price levels.

MANA is ready for rebounds

Sandbox and Decentraland have historically performed closely. MANA gained nearly 4% the past day to trade at $0.6818.

The token explores the resistance at $0.7027, which has hindered its uptrends over the past two years.

Unfortunately, bears (who tend to plunge prices after each contact) dominate this region.

However, the current dynamics shift suggests a different outcome. For instance, the Ichimoku cloud indicates an end to MANA’s bearish trend.

Thus, Decentraland’s price could remain within the current zone (for a while) and overcome the highlighted resistance as bullish sentiments intensify.

Surpassing $0.7027 would catalyze swift surges toward the sought-after $1.

SAND and MANA’s prevailing performances bode well with the much-anticipated altcoin season, which will see alts going parabolic in the coming months.