Star Atlas (ATLAS/USD) price pulled back more than 12% in the last 24 hours.
ATLAS had rallied nearly 70% in the previous seven days.
Star Atlas is a multi-player online game that takes place in the virtual gaming metaverse.
Star Atlas (ATLAS/USD) declined by more than 12% over the last 24 hours amid increased covid fears. ATLAS is the utility token of Star Atlas, a multi-player online game that takes place in the virtual gaming metaverse.
Star Atlas is built on Unreal Engine 5, allowing the game to feature cinema-quality, real-time environments. Therefore, given the growing popularity of the metaverse, Star Atlas seems to have an exciting future ahead.
Star Atlas price prediction
From an investment perspective, Star Atlas has recently pulled back pushing its market cap to about $391 million. Therefore, given its fully-diluted market cap of more than $6.5 billion, Star Atlas seems to have a lot of room left to cover.
And with the trading volume falling by 1.42% over the last 24 hours to about $114 million, the current pullback could be coming to an end.
Technically, Star Atlas seems to be trading within an ascending channel formation in the intraday chart. However, it has recently pulled back to avoid crossing to the overbought conditions of the 14-day RSI.
Therefore, investors could target potential rebounds at about $0.20, or higher at $0.23. On the other hand, if the pullback continues, ATLAS could find support at about $0.158, or lower at $0.128.
In summary, Star Atlas seems perfectly poised to benefit from the metaverse breakout, thus boosting the long-term ATLAS price outlook.