BTC $44128.64 (3.62%)
ETH $3127.80 (6.06%)
USDT $1.00 (-0.0%)
BCH $545.00 (2.55%)
BSV $145.96 (-2.3%)
LTC $160.74 (2.12%)
BNB $378.66 (3.66%)
ADA $2.24 (4.59%)
DOGE $0.22 (4.89%)
BTC $44128.64 (3.62%)
ETH $3127.80 (6.06%)
USDT $1.00 (-0.0%)
BCH $545.00 (2.55%)
BSV $145.96 (-2.3%)
LTC $160.74 (2.12%)
BNB $378.66 (3.66%)
ADA $2.24 (4.59%)
DOGE $0.22 (4.89%)

Metaverse Technical Analysis 2021 — How High Will ETP Reach This Year?

Metaverse Technical Analysis 2021
  • Metaverse is a public open-sourced blockchain platform.
  • Bullish Metaverse price prediction ranges from $0.26 to $0.36
  • Metaverse might reach a new ATH this 2021.

This Metaverse price analysis 2021 article is based on technical analysis alone. Below, you will see the key measures that we have considered upon coming up with our Metaverse price analysis and prediction.

Nowadays, cryptocurrency is a very speculative source to gain very attractive returns on investment. However, many cryptos surged during this 2021 bull run. In contrast, some crypto also had a downtrend. Moreover, some crypto experts predict March will be altcoin season.

Many traders and investors are confused about whether it is time to sell or hold out for a good price. The same can be said for Metaverse. In fact, the Metaverse price reached a high price of $0.145 in February.

Meanwhile, Bitcoin reached a new all-time high (ATH) at $60,000 recently. Will Metaverse price also have a new ATH this year? We’ll find out shortly in this Metaverse price analysis 2021 article. But first, let’s have a little background about Metaverse.

What Is Metaverse (ETP)?

Metaverse​ is a leading public blockchain situated in China. Moreover, it facilitates low-cost, convenient transfer of digitized personal data and assets with unprecedented privacy and security.

Additionally, Metaverse aims to revolutionize the way financial services and transactions are processed. Also, it intends to improve outdated and inefficient identity verification services. This it will accomplish with a network of digital identities​, digital assets​,​ and oracle​ intermediaries.

Metaverse ETP is used to value or collateralize smart contracts on its blockchain network. It is also used to pay transaction/gas fees. More so, ETP comes from PoW mining.  A PoS hybrid will soon supplement its present PoW model.

Now that we have an idea about Metaverse, do you think Metaverse will be a profitable crypto in 2021? Are you curious to find out already? Join me and let us see the charts in this Metaverse price analysis and Metaverse price prediction.

ETP Current Market Status

As of writing this Metaverse technical analysis, ETP is at $0.24 with a 24-hour trading volume of $7,341,447.53. The price has lowered by (-2.46 %) in the last 24 hours.

ETP Coin has a current circulating supply of 79.28M. The total maximum supply of ETP is 100,000,000. Currently, the top crypto trading platforms for Metaverse are BitZ, RightBTC, HitBTC, Bitfinex, and TOPBTC.

Now, let’s proceed to the next part of this ETP technical analysis for 2021.

Metaverse Technical Analysis 2021

Currently, Metaverse holds the 627th place on CoinGecko. But will the recent changes and development in the blockchain help the cryptocurrency price to grow higher? Let’s proceed to the charts in this Metaverse price prediction article.

In the monthly time frame chart below, we can see the Symmetrical Triangle pattern. The pattern represents a period of consolidation. This might immediately force a price breakout or breakdown.

A breakdown from the lower trendline shows the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.

ETP USDT chart showing Symmetrical Triangle pattern
ETP/USDT chart showing Symmetrical Triangle pattern (Source: TradingView)

As shown above, at the beginning of this, Metaverse turned from its bear-to-bull trend. This shows a high trade volume occurred in that period. Moreover, in the bigger time frame, Metaverse showed a Cup and Handle pattern. We can see this pattern in detail toward the end of the article.

The Relative Strength Index (RSI) is at 72, which means that Metaverse is in an oversold state and may trigger a price reversal at any given time. Therefore, traders must trade wisely and must not be affected by the market hype. With this in mind, traders can be cautious and avoid unexpected losses due to the crypto market’s wild swings.

ETP Relative Strength Index
ETP Relative Strength Index (Source: TradingView)

Let us also look through the Simple Moving Average (SMA) and the Exponential Moving Average (EMA).

ETP 30-day EMA and 50-day SMA
ETP 30-day EMA and 50-day SMA (Source: TradingView)

Since the start of 2021, Metaverse’s price has seen many bullish moves higher than the previous one. More so, these were followed by fluctuations, corrections, and consolidation right away. Taking this into consideration, Metaverse has a vibrant market this 2021.

ETP Price Chart Showing Cup and Handle Pattern

The below chart shows the Metaverse price forecast. Metaverse has shown a Cup and Handle Pattern in a bigger time frame.

ETP USDT Cup and Handle Pattern
ETP/USDT Cup and Handle Pattern (Source: TradingView)

The above Metaverse price forecast shows that ETP displayed a Cup and Handle Pattern, a bullish signal. In ideal cases, this immediately leads to a price breakout.

In the short-to-mid term scenario for our ETP price prediction 2021, ETP has to break past the Fib retracement level at $0.362. To do this, it has to establish more support at the Fib level at $0.26. If not, bears may gain the upper hand and drag ETP to their territory.

Meanwhile, our long-term ETP price prediction 2021 is bullish. It has a high possibility of surpassing its current ATH at about $6.24 and reach up to $8 this year. However, that will only happen if it breaks past many psychological resistances.

Conclusion

Metaverse has a bright future ahead of it in 2021. Furthermore, with ongoing developments happening within the Metaverse ecosystem, we may see ETP reach new heights in the overall crypto market.

Bullish Metaverse price prediction 2021 is $0.36. As said above, it may even reach $0.8 if investors have decided that Metaverse is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is Metaverse?

Metaverse is a public open-sourced blockchain platform that provides a foundational infrastructure for social and enterprise needs.

How to Buy Metaverse Tokens?

Users can purchase their Metaverse tokens by purchasing them from cryptocurrency exchanges such as HitBTC or Bitfinex.

Is Metaverse worth buying?

Metaverse is a good investment in 2021. However, traders and investors need to take extra care when trading in cryptocurrencies, as they are extremely volatile.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Recommended News

Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.