- The SAND crypto has revealed a sign of a strong recovery as the price rallied from a crucial level.
- The Sandbox crypto asset performed well in the past week, month, and quarter.
The Sandbox’s recent market price shows an upward thrust from the dynamic supports on the daily chart and looks like an ongoing rally.
The past price action shows that the price rose from the demand zone at $0.4000 around the start of 2023 and went up to $0.9400 within a month which is a 2x gain.
The past structure failed to move past the $0.9400 and plunged in a descending wedge up to November 2023. But, buyers managed to push out of this wedge in December end 2023 and reached $0.6700. Moreover, the Sandbox looks primed and buyers’ interest seems like they want a higher jump this year, as the price retreated this year from $0.6700 to $0.4000 by February 2024.
Likewise, the SAND crypto has revealed a sign of a strong recovery as the price rallied from a crucial level of around $0.4000 on the chart and the last three months’ performance looks like a pullback in a breakout of the falling wedge pattern that was formed in a year worth of trading sessions.
Can Sandbox Crypto (SAND) Claim $0.8 Mark?
Furthermore, it seems like the Sandbox crypto is set for colossal gains, as it harnesses strength to crack the resistance level above and rocket to new peaks by surpassing the supply zone.
The SAND crypto asset is exhibiting strong bullish strength and rising capacity as it holds above major 20 and 50-Day EMA bands.
Major reliable tools for the Sandbox crypto asset are displaying bullish behavior as the MACD displays a bullish crossover above the zero line with a broad histogram width between both lines. MACD line is at 0.0208, the signal line is at 0.0135, and the histogram is at 0.0073.
The RSI is near the 70 level, meaning that the SAND asset is headed for an extreme overbought zone and can extend its gains directly or could go up after some consolidation in price.
Overall analysis shows that the Sandbox crypto asset is showing bullish signs and exhibits that it has the potential to grow further. It performed well in the past week, month, and quarter by 10.22%, 26.07%, and 37.49% respectively, indicating a strong uptrend.
At the time of publishing, the crypto is experiencing a surge of 1.93% in the last 24 hours, trading at $0.5717. The trading volume in the last 24 hours on major tradeable platforms is 232.39 Million, market capitalization is 1.27 Billion, FDV is 1.70 Billion, and circulating supply is 2.24 Billion.
Therefore, if the demand for crypto remains at its peak, the SAND price could keep on advancing from the current level. Then the next goal for the price could be to reach $0.8000 with resistance from $0.6500.
Another possibility would be that if the crypto price fails to stay above the $0.4750 level, it could decline further.
Summary
The technical parameters of the Sandbox price suggest the continuation of the uptrend over the daily time frame chart. The RSI, MACD, and EMAs are giving bullish gestures regarding SAND price.
Moreover, the SAND price highlights the bullish sentiments and perspectives regarding the crypto asset in the daily time frame. The Sandbox price action highlights a bullish view at the time of publishing, as it recently attempted to surge from a pivotal level.
Technical Levels
Support Levels: $0.4750
Resistance Levels: $0.6500
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.