- The SAND token price has shown 17 green days in the last 30 days.
- The price of the Sandbox crypto has declined by 92% from its all-time high price.
SAND is an Ethereum-based cryptocurrency powering The Sandbox gaming platform, enabling users to buy land, resources, and virtual items while rewarding contributors.
Created by Pixowl and Animoca Brands, The Sandbox was co-founded by Arthur Madrid and Sébastien Borget, combining gaming and blockchain expertise to revolutionize virtual world creation and ownership.
The total value locked for the Sandbox crypto is nil, while the current liquidity of the crypto is $6.12M. Moreover, the total raised amount for crypto is $95.0M, and its market cap is worth $1.6B.
The crypto’s market cap has further advanced by 5.7% in the last 24 hours, and its market cap ranking is #72, as per CoinMarketCap. The trading volume for the crypto has further witnessed an advance of 33.4%.
The volume/market cap ratio of the SAND crypto is 12.17%. The total and maximum supply for the crypto are the same. This results in 30.0M SAND and a circulating supply of 2.251B SAND. Its fully diluted market cap is $2.131B, and the supply inflation is very high, resulting in 43.98%.
The Sandbox token has a market cap dominance of 0.06%, and its volatility is also very high. The sentiment of the crypto is also bullish, and the fear and greed index is at 81, indicating extreme greed.
The Sandbox Token Derivatives Analysis
The open interest in crypto has advanced by 7.4% in the last 24 hours, resulting in an increase of 22.6% in derivative volume. The current open interest for the crypto is worth $115.50M.
The long liquidation recorded for the crypto is much less when compared to the short liquidation for the crypto.
The long liquidation for the crypto is worth $13.25K, and the short liquidation for the crypto is $56.12K.
Social Dominance Vs Twitter Followers
As seen on the charts, the number of Twitter followers for the crypto page has declined. Following this, the social dominance of crypto also indicates a decline, which means low social activity in crypto.
SAND Crypto Technical Analysis
The price of the SAND token has broken above strong resistances, indicating a change in the trend to bullish on charts. The token’s price has completed its retracement to the breakout zone and is preparing to advance to new highs again.
If the SAND token price breaks above the level of $0.820, we might witness a further surge in the token’s price.
SAND/USD Chart by TradingView.com
The SAND token price has retraced to the 50-day EMA and has currently broken above the 20-day EMA. It indicates the advance in the momentum of the price.
It is further followed by a golden cross of the 50-day and the 200-day EMAs on the daily chart of the crypto.
The MACD is also showing bullish behavior as MACD and the signal lines are trading above the zero level. We need a bullish cross of the following lines on the indicator to advance the SAND token’s price further.
The RSI declined below the 50 level a few days ago but has again rebounded above the 50 level. It further advanced above the 14-day SMA, indicating strength in the crypto price.
Summary
SAND crypto exhibits a bullish trend with substantial volume increases and price breakthroughs. Market cap growth, coupled with extreme greed sentiment, indicates positive momentum.
Technical analysis supports a bullish outlook, with resistance breakouts and golden cross formations suggesting further price surges. Potential catalysts include increased social activity and successful resistance breaches, promising a potential price doubling.
Technical Levels:
- Support levels: $0.4200 and $0.5400
- Resistance levels: $0.9800 and $1.4500
Disclaimer
This article is for informational purposes only and does not provide any 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.