- The price of Sandbox (SAND) is currently trading at $0.436.
- The 24-hour volume is $43,523,838 which increased by 19.33% in 24 hours.
The Sandbox (SAND) coin is based on the Ethereum network It aims to create a user-driven, decentralized virtual metaverse where players may create, own, and make money from games and other digital items.
The VoxEdit game builder, which uses voxels to create 3D components, is one of many tools available on the Sandbox platform. The Sandbox, a virtual environment where players can explore and interact with the assets, is then uploaded and connected with these materials. The network uses non-fungible tokens (NFTs) to signify ownership of these digital assets, permitting scarcity and verifiable ownership.
Trend Analysis
According to the Sandbox (SAND) price analysis, the crypto is displaying probable trend reversal signs. The price began a downturn after reaching its peak of $0.902 in February 2023 and fell by 61% over the ensuing four months. However, it encountered resistance near $0.482 and found support at the $0.362 mark.
The Sandbox price has been fluctuating within this range for the past month, and there are growing indications of a probable breakout in an upward direction. SAND, which is currently trading at $0.436, has seen a 5% growth in the last day, indicating a stronger price. Notably, SAND broke through a crucial support level at $0.4820, leading to a 52-week low, and is currently displaying a rising trend from this support level, signaling a positive attitude.
The Sandbox (SAND) is Trading in Downwards Direction
The Sandbox (SAND) Price Analysis
EMA
The Sandbox (SAND) price is currently trading below the 20 EMA level which indicates that the price is gaining some strength and is likely to move upward.
RSI
The Sandbox (SAND) Relative Strength Index (RSI) line is currently above the Simple Moving Average (SMA) line, indicating a possible likelihood of an upward move. This means that the SAND crypto may continue to experience buying pressure and upward momentum in the near future.Â
MACD
MACD line is trading above the single line indicating further signs of bullishness. There is also the formation of a red histogram that is a positive factor.
Trendline Analysis
According to the trendline, the price is adhering to the trendline and is turning away from the support level, indicating a possible rise up to the channel’s upper line.
Therefore, at press time, the price of the SAND moving in the channel has the potential to quickly rise to $0.480 and touch the trendline. If it maintains this level, a breakout will likely occur in the upcoming trading days.
Conclusion
The indications are supporting the movement in the positive direction in a short period of time. According to the analysis, indicators are signifying a further positive upmove.
Technical Levels
- The nearest support level is $0.3627.
- The nearest resistance level is $0.48020.
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
