- The Sandbox price is up by 58% in the last one month.
- The trading volume has decreased by 25% in the past 24 hours.
- The SAND crypto price has triggered a pullback but is facing resistance from the $0.700 mark.
The Sandbox (SAND) price performed positively for the last few months and recorded a 52-week high of 0.744 on March 05, 2024. Since October, SAND crypto price has risen by 122%. It has displayed slow and steady gains over the past few months and is approaching the strong resistance line of $0.700.
On March 05, 2024, the Sand coin price was dumped by 20% which implies strong selling pressure but buyers entered the game and recovered half their losses. The price was rejected from the 20-Day moving average and rose by 20% in the last three days.
The circulating supply of The Sandbox is 2,251,731,926 SAND and the total supply is 3,000,000,000 SAND. RSI is at 69 which has slipped below the RSI-based moving average generating sell signals. But the SAND coin price is trading over the significant moving averages which showcases the buying momentum.
Will SAND Price Reclaim $1 Mark in the Next Few Months?
SAND price is under buying pressure and has reached a 52-week high. It approached the last swing high and faced resistance from the $0.700 mark. Currently, the price has triggered a pullback but sellers are dominating near $0.700.
If the SAND price fails to sustain the $0.700 mark, then it may melt to the 20-Day moving average. But if it slips below the 20-Day EMA, then investors may prefer to book profits and a bearish trend would be seen in the short term.
On the other hand, if The Sandbox price surpasses the $0.700 mark and sustains, then buyers may show their interest in a pullback, which may lead to more buying momentum. If the buyers maintain their grip, then the price may approach the $1 mark in the next few months.
Technical Analysis of SAND Price on 4-H Timeframe
At the time of writing, SAND price was $0.68 with an intraday fall of 1.26%. The market capitalization is $1.54 Billion and the 24-hour trading volume is $250.87 Million.
In a 4-H time frame, The Sandbox price tried to sustain at $0.700 unsuccessfully. But recently, it has bounced back to the $0.700 mark. If the SAND crypto price slips below the 20-Day moving average and sustains, then it may witness a fall of approximately 10% in the coming sessions.
Conclusion
SAND price has been in a bullish trend for the last few weeks and reached its 52-week high. According to the technical chart, if the price manages to sustain the $0.700 mark and rises then buyers may show their interest. But if The Sandbox price fails to defend the 20-Day moving average and sustains then it may melt to the 200-Day moving average.
Technical Levels
Resistance: $0.700 & $0.800
Support: $0.640 & $0.550
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.