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•SAND/USD is currently priced at $3.71 and has increased by 5.91% over the past day
•The trading volumes have by 39.55% over the past day
•The technical indicators suggest a continuation of the bullish momentum in the coming days
Short Term View: Bulls stay in the lead as The Sandbox surges
The Sandbox price today is $3.71 USD with a 24-hour trading volume of $1,090,182,645 USD. The Sandbox is up 5.91% in the last 24 hours. The trading volumes have increased manifolds over the past day, suggesting increased investor activity. The Volume to Market Cap Ratio, on the other hand, stands at 0.2557.
The Sandbox crypto is currently in the midst of an uptrend as it trades above the 20,50 SMA on the four-hour chart. The 200 SMA is trailing both the short-term moving averages as well, which bodes well for the future prospects of the coin. The price level of $3.40 is expected to be acting as a strong support level for The Sandbox crypto while the first major resistance lies at $3.94 If the CAKE coin is able to break the aforementioned resistance, it will activate the price target at $5.
Long Term View for The Sandbox
The RSI slope for The Sandbox is currently heading towards the overbought territory with a diagonal spike, currently transacting at 63.98. The MACD and signal lines on the daily chart have regained the bullish spread and are sitting pretty in the positive zone. Moreover, the indicator reflects increasing buying pressure with the booming positive histograms.
Conclusion
The Sandbox has been identified to be operating in an upward channel formation and is expected to climb upwards in the channel after a period of consolidation. Thus, we are likely to see an increase in prices in the coming days ahead.
Support: $3.40
Resistance: $3.94-$4.25
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
