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The Sandbox SAND was resisted at the $ 1.3 level.
Prices are currently bearish, but could be constrained by $ 0.9 support.
Investors need to be aware of potential breakouts.
$ 1.3 is an important level for monitoring Sandbox’s native token SAND / USD. The Metaverse token has shown new hope after jumping from the bottom of $ 0.75 last month. In the current $ 1.1 transaction, SAND is recovering, but is restrained by immediate resistance.
Metaverse tokens such as SAND grew rapidly last year against the backdrop of the growth of virtual reality blockchain. This year, businesses are still showing interest, but activity is slowing.
Citi strategists believe that the Metaverse economy is an addressable value of $ 8 trillion to $ 13 trillion. Metaverse tokens like SAND with such great potential continue to be viable for enthusiastic investors. However, the recent bearish crypto sentiment has hit SAND. Weaknesses should not relate to enthusiastic investors seeking long-term profits. In the short term, SAND is looking at breakouts that investors should monitor.
Source TradingView
Technically, SAND has been integrated since May. The established resistance of the token is $ 1.3 and the support is $ 0.9. The price of Metaverse tokens has fluctuated between these two regions for about two months. Levels are an important make-up or break zone for SAND, as they resist the cryptocurrency going down.
The MACD indicator shows a bearish signal. The line is about to fall below the moving average to see the bear move. The level reflects the current fix after the cryptocurrency was resisted at $ 1.3. The short-term 14-day and 21-day moving averages are also above prices. The current sentiment for SAND is bearish. Still, the fix may end when it reaches $ 0.9 support.
Sandbox’s SAND is technically powerful beyond $ 0.9 support. The $ 1.3 resistance keeps the price down. A potential break above the $ 1.3 resistance will lead to a new bullish momentum.
