- SAND is staying bullish over the past few weeks along with stability
- The token is rallying very close to its yearly-high mark of $8.51
- It has given a return of over 74.77% in the last week
Sandbox’s current market price seems to never get off the bulls as it continues to help investors book profits. The token registered a 3-month performance of over 962.5% continues to climb a steep hill on the chart. Its market cap saw an increment in its yesterday’s original value by 10.44%. SAND‘s trading volume experienced a rise of 41% over the last 24 hours after the token spiked again in the market. The volume to market cap ratio comes out to be 1.49. The SAND/BTC pair gives out positive results as the valuation comes out to be 0.0001304 BTC after an intraday increment of 6.75%. The SAND/ETH pair overtook the previous pair with a new profitable price of 0.001724 ETH, gaining over 6.78% during the intraday session.
The 30-minute chart shows the bullish climb of SAND. The token’s current market price is trading above the EMA lines. The lines provide support to the token along with the trend line (white line) that creates a bullish ascending triangle with the resistance levels. The formation of the three ascending peaks also justifies the uptrend that the token is going through. The spotting of a trend reversing ‘double bottom’ pattern after a minor reduction in SAND’s price took it back to the top again and worked as a pullback.
Oscillators support the current market sentiment of Sandbox
The MACD line of Sandbox is flying high above the signal line and the zero level. This phenomenon indicates a strong bullish zone. The past data of the token shows how stagnant it was before the first breakout in its price. The RSI shows that the zone is in the extremely overbought zone, and the current price may descend as a way of a market correction. However, similar falls have occurred in its price and SAND has always managed to get itself back on the bullish trend.
The resistance is at $8.472 and $9.779. The support is present near $5.323 and $6.883.
Conclusion- Sandbox is going to stay bullish for some more time. The price may fall due to overbuying but only to serve as an entry zone for investors to buy the asset. However, one should always watch out for market volatility and study the asset before investing.
Resistance- $8.472 and $9.779
Support- $5.323 and $6.883