As the crypto market marks another bearish week, the buyers are desperate for a reversal to avoid another crash. Amidst all this ruckus, the gaming tokens are slowly preparing for a trend reversal with a bounce back next week.
With many altcoins in the gaming sector starting a reversal, the overall sector recovery is ready for a bull run.
So, be ready to channel the growth in the gaming sector and find out which coins will be breaking new heights. So, here are the top 5 gaming tokens that could be the top gainers next week.
As a Layer-2 solution on Ethereum, Immutable is growing in popularity and is trending amongst the altcoins. However, the ongoing pullback in the IMX price tests the bullish dominance at the 50-day EMA, reflecting a strong correction.
Currently, the IMX price shows a pivotal juncture at play to decide the price trend of the coming week. The possibility of a double-bottom reversal above the crucial 38.20% Fibonacci level can result in a bullish week. Further, the lack of volume support for the ongoing pullback increases reversal chances.
If bulls manage a reversal, the IMX price can reach $2.50, accounting for a 30% jump.
Axie Infinity (AXS)
Marking a recovery in the last few months, the AXS price trend sustains an uptrend in the daily chart. However, the recent pullback fractures the support trendline in action and warns of a downfall.
Despite the trendline under tension, the AXS price is reflecting a potential morning star pattern ready to restart the uptrend. Moreover, the support from the 38.20% Fibonacci level can be crucial for this bounce back.
Hence, a potential jump can drive Axie Infinity to a 30% jump to the $10 mark.
Despite being a metaverse and gaming token, the SAND price has been under stress for the past few weeks. Further, the altcoin maintains a declining trend in the daily chart and challenges the dynamic support of the 200-day EMA.
However, the bullish reversal possibility is arising with a double bottom forming at the 200-day EMA. Further, the lower price rejection candles at the 50% Fibonacci level bolster the reversal possibility.
Optimistically, the buyers can break the overhead resistance trendline this week. This could lead to a breakout rally to test $0.62.
Similar to Sandbox, Decentraland shows a pullback phase but the buyers are able to hold off the downfall at the 200-day EMA. Further, the lateral shift shows a potential reversal with a bullish divergence present in the daily RSI line.
With a consolidation between the 50-day and 200-day EMA, the MANA price is ready for a breakout trend. Hence, with a high probability of a high momentum breakout trend next week, the MANA price can reach the $0.56 mark.
In resonance with the potential recovery in the crypto market next week, the GALA price will start a high-momentum breakout rally. Further, the bullish demand increased at the 61.80% Fibonacci level, teasing a potential bull run.
Similar to most of the other coins, the RSI divergence in the GALA token increases the trendline breakout possibility. In such a case, the altcoin highlights a buying opportunity at the current price and projects a potential bounce to $0.030.