The Sandbox is a blockchain-based virtual world where players can create, build, and monetize NFTs. SAND is a ERC-20 token that powers the virtual world of The Sandbox SAND is used for various purposes, like buying land, creating and selling NFTs, participating in governance, and many more. The Sandbox has gained vast popularity due to its unique approach to gaming and blockchain technology. By allowing users to control and trade their virtual assets, the game offers players a new level of ownership and creativity. Additionally, there are lots of virtual events happening in The Sandbox where users can interact with each other. The Sandbox team has partnered with major players in the gaming industry, which has given them a significant user base. Recently as per the santiment a whale has recently shifted their $25 Million worth of token to a new address mainly to sell.
SAND has a market cap of $916 Million and is ranked 54th in the cryptoverse. Volume of the SAND has seen a decline of 28% in the intraday session. Volume to market cap ratio of SAND suggests a consolidated move in price.
Will SAND See A Fall To $0.4 Before A Rebound?
SAND has been moving in a weak downside momentum for past few weeks.It is currently moving in a weak consolidated trend.SAND is currently trading near the value of $0.61 with a drop in the intraday session.Resistance of the SAND can be seen near the value of $0.85.Meanwhile a bounceback in the asset price can be seen near $0.4.It is trading below the 50 and 100 Daily Moving Average.There can be a negative crossover in the asset price which can push it to a new low.Various analysts are expecting a bullish rally in SAND in the future.
RSI of the SAND is near 46 suggesting its presence in the neutral zone.There is a downside slope in the asset price suggesting a bearish momentum
Conclusion
Whales of SAND are currently moving their tokens to some other address.Various analysts are expecting a strong bullish move for the future.
Technical Levels
Major Support:$0.5
Major Resistance:$0.85
