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- 1 The bulls are trading in an uptrend in the SAND coin price and the current price is near the support level.
- 2 Metaverse gaming and venture capital company Animoca Brands have invested $30 million into Sand’s subsidiary.
- 3 The 50-day EMA is moving towards the 150-day EMA for a bullish crossover.
According to recent data on Etherscan, over 120 Million SAND tokens currently valued at approximately $47.62M were distributed and transferred to a specific address. Out of these tokens, more than 86 Million SAND were sent to centralized exchanges. This could indicate an intent to sell and support a bearish view of the token.
The native token for The Sandbox’s decentralized crypto, SAND experienced significant losses during October and September this year.
What is ‘hi’ and how it is backed by Metaverse
Metaverse gaming and venture capital company Animoca Brands have invested $30 Million into ‘hi’. It is a digital-only crypto payments application that offers banking services for crypto and fiat transactions.
As a subsidiary of Sandbox, ‘hi’ users can now use the SAND token to make purchases in eligible markets. These includes the markets within the European Economic Areas. This already supports Bitcoin (BTC), Ether (ETH) and USDT. This was announced on Wednesday through X (formerly Twitter).
NFT cards were released by Binance just two months after Mastercard and Visa ended their partnerships with them. Mastercard did not provide any specific reasons for distancing itself from Binance, but they have partnerships with several other crypto payments firms such as Baanx, Credencial Payments, and Monavate.
Prediction of SAND Coin Price
As of press time, the SAND coin is trading at $0.411, having seen an increase in value since mid-October. The resistance level for the bulls stands at $0.481, while the immediate support level is at $0.382 which has been reclaimed by the bulls at a shallow level. The 50-day EMA is moving towards the 150-day EMA for a bullish crossover.
The levels for the 50-day and the 150-day EMA are at $0.368 and $0.384 respectively. The RSI already reached an overbought level of 80 a few days ago. At present, it is at 57, indicating that the bulls have exhibited some weakness over the past few trading sessions. Until it reaches its immediate resistance level, the SAND coin price is expected to remain bullish in terms of price prediction.
Conclusion
‘hi’ is a digital-only crypto payments application that offers banking services for crypto and fiat transactions. ‘hi’ users can now use the SAND token to make purchases in eligible markets. The current price is trading near its immediate support level and it is predicted that the coin could be bullish.
Technical Levels
- Support Levels: $0.381 and $0.286
- Resistance Levels: $0.481 and $0.593
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
