- The Sandbox crypto was outperformed by 91% of the top 100 crypto assets in the last 1 year.
- The SAND token price has been traded in green for 16 days in the last 30 days.
The Sandbox (SAND) token’s supply inflation was high, resulting in 13.14%. It might require the SAND price to perform extra to beat inflation.
At press time, The Sandbox token’s market cap was valued at $586.751M, making it one of the top 100 cryptocurrencies. That further led to a market cap dominance of 0.03% in the token.
The SAND crypto’s price was highly volatile. It resulted in a volatility of 5.97%, which might lead to uncertain spikes in the future. The token’s sentiment was also bearish, and the fear and greed index was at 26.
The token witnessed a decline of 30.0% in its traded volume in the last 24 hours. This showed a medium liquidity in the token price, followed by a volume/market cap ratio of 5.78%.
When writing, the token had 211.7K holders, and its largest holder alone held 18.99% of the total supply. The large holder’s concentration in the token was 89%, and only one percent of holders were in profit.
Are traders losing interest in Sandbox Token’s derivatives?
The Sandbox crypto’s derivatives traded volume declined by 42% in the last 24 hours. It resulted in a traded value of $29.14M and a decline in the trading activity of the token.
While there was a decline in the volume, the token’s open interest stayed flat. It witnessed a slight advance of 1.05% in the last 24 hours from the press time, resulting in $29.39M.
Bulls’ dominance can also be seen in the token’s derivatives, as shorts worth $11.26K were liquidated in the last 24 hours. Against this, longs worth only $148.26 was liquidated.
Where Are SAND Token’s Technicals Heading Toward?
The SAND price witnessed a consistent decline in its trading price over the last few months. A strong profit booking for the token price followed this.
Following the consistent decline, the SAND crypto price declined by 70% from the swing high of $0.830. This showed sheer pessimism among the token’s investors.
The following token’s price behavior led to a falling wedge pattern on the chart. Suppose the price breaks above the falling wedge pattern with a strong surge in volume. If this happens, the price trend might change to bullish.
What Do Technical Indicators Say About SAND Token Price?
The EMAs on the token’s daily chart have consistently declined to lower levels over time. A death crossover of 50-day and 200-day EMAs on the chart followed this. The price further traded below the EMAs, confirming the price downtrend.
SAND/USD Chart by TradingView
The MACD showed a bearish behavior in the token price as the MACD and the signal line traded negatively. This showed the possibility of further decline in the price. The RSI declined below the 50 level and traded below the 14-day SMA.
The SAND price might take support at $0.15 and $0.20, followed by the resistance levels of $0.50 and $0.650.
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.
