The 5 best NFT coins to buy before entering 2023: In 2022, the NFT market received huge attention from investors, causing the coins associated with it to skyrocket in a short period. However, the ongoing downward trend in the cryptocurrency market caused these coins to collapse significantly and brought strong discounts for interest buyers.
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Apecoin (APE)
As a result of the ongoing downtrend, the price of Apecoin has plummeted 89% from its all-time high of $39.4 to $4.31 currently.
In addition, the technical chart showed that prices have fallen in response to a downward trend over the past seven months.
On December 11, the altcoin breached this long-term trend line indicating a first sign of trend reversal. The potential growth show encourages a bullish rally to $27.6 by mid-2023.
Chiliz (CHZ) – Italy
The price of Chiliz (CHZ), which has been falling for almost two years, has lost 84.73% from an all-time high of $0.891. However, this fall shows the formation of a descending wedge pattern in the monthly time chart.
This bullish pattern is set to trigger a significant rally at the breakout of its resistance trend line. The coin is currently trading at $0.13, but the completion of this model could push prices to reach $1 by last 2023.
Theta (THETA)
From an all-time high of $15.9, the ongoing downtrend has sent the THETA price plummeting by 94.82% to its current price of $0.822. However, this altcoin has been sideways over the past seven months, suggesting that bearish momentum has worn off.
If prices reach support near $0.82, the Fibonacci trend-based extension suggests that potential growth could reach $2.55 by the first or second quarter of 2023. In addition, the indicator shows the next bidding zone at $4.4.
Sandbox (SAND)
A V-top reversal from an all-time high of $8.44 sent SAND prices plummeting by 93.49% and reaching the $0.55 mark. In addition, the altcoin shows a breakdown from the support of $0.574 indicating that sellers may resume the ongoing downtrend.
Therefore, the break could cause the price to collapse by 71% to reach its current market value of $0.55.
However, the holder could see a recovery attempt if the SAND price shows sustainability above the long-term support of $0.55 or $0.18. This recovery could push the price close to the bidding zone of $2.5, followed by $3.5.
Decentraland (MANA)
Amid the ongoing downtrend, the MANA price has lost 93.56% from its all-time high and collapsed to the current price of $0.38. The coin price currently rehearses the June 2021 lower support of $0.37.
Therefore, the altcoin could see a significant recovery if buyers manage to sustain this old support. The potential target for the price of MANA could be 363% higher to $1.7 by the first half of 2023
