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- 1 The Sandbox crypto is close to $0.58 showing a significant intraday rise of 5.61%.
- 2 The technical indicators imply a positive outlook above the 20 and 50-Day EMAs in the short term.
The Sandbox price kicked off yesterday’s losses and jumped off to the higher side. At the time of writing, SAND was trading close to the day’s high suggesting more potential on the higher side.
The SAND was at $0.58, showing significant intraday growth of nearly 5.61%. On Wednesday, the bears tried to defend near the round level of $0.55 and tried to halt further momentum on the higher side.
However, the buyers played aggressive bullish bets on Thursday which led to a short-covering among the sellers and the price jumped off, snapping yesterday’s losses.
Currently, Sandbox crypto is headed towards the $0.60 price level. Surpassing this level will open the space for more extravagant growth in the forthcoming sessions.
As of now, the SAND/USD has been obeying a strict rally starting after the breakout from a falling wedge pattern and showing continuation through dynamic support levels from key EMAs.
The Sandbox Crypto Volume Analysis
The volume analysis shows that the SAND crypto received $346.298 Million volume in the last 24 hours which is 44.73% more than the previous day. The live market capitalization of SAND was $1.315 Billion and it ranks 69th in the overall crypto market.
Moreover, the volume-to-market-capitalization ratio is 26.33%, indicating that high-volume transactions are happening in the crypto. It has a circulating supply of 2.241 Billion tokens against a total supply of 3 Billion SAND tokens.
The Sandbox Indicator Analysis
From a technical perspective, the SAND token price trades higher above the 20, 50 and 200-Day EMAs, suggesting a long-term positive outlook along with a short-term positive trend.
At the time of writing, the RSI line was placed at 73.34 and that of the 14-Day SMA line was at 62.57 points. Both the lines were placed above the median line indicating a positive trend prevailing in the crypto. Moreover, the RSI line has entered the overbought region indicating early signs of correction in the price.
The Sandbox Price Prediction March 2024
The most positive outlook of our analysts assumes the price could resume its way up to $0.84 as the highest price in March 2024. On the other side, the bearish outlook of the analysts assumes the price to break below the 20-Day EMA after which it could drop to the $0.5 and $0.4 levels respectively.
The Sandbox Crypto Price Prediction 2024
The price analysis for the year 2024 is that the SAND token could reach a high of $1.09, suggesting a potential gain of over 85.67% if the most positive conditions prevail. Moreover, the less positive outlook of the analysts hopes for the crypto to attain $0.87.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
