No products in the cart.
- Latest
- Trending
ADVERTISEMENT
Sandbox tokens are up 7% during the day and up 14% over the week.
Cryptocurrencies have been hit hard by the slowdown in metaverse activity
SAND faces rejection at downtrend line
of sandbox price (SAND) rose more than 7% on Monday, extending its weekly gain to nearly 14%. The recovery comes amid a prolonged bear market and limited activity in the metaverse. But how long can sandbox tokens stay resilient?
SAND is trading at $0.62, down significantly from its November 2021 all-time high of $8.5. This decline has been fueled by the prolonged cryptocurrency development and slowdown in metaverse activity. SAND will return to the rally as the crypto sector recovers and more companies enter the nascent virtual reality space. But it’s a long term story. In the short term, it shows the sandbox token could continue to rise, but the bulls will face a major test at the downtrend line.
From the chart below, SAND is trading on a system with low lows and low highs. As a result, a downtrend line was formed.
The RSI surpassed the median for the first time since November 9th. A bullish MACD crossover has recently started with improving momentum. However, the MACD remains below the neutral point.
The short-term rally in sandbox tokens is likely to sustain itself in the short-term. To confirm a sustained uptrend, the token must cross the downtrend line.Considering buy sand Note that a rejection is possible at or near the downtrend line here.
Conversely, if SAND breaks out of the downtrend line, the next level to watch is $0.93.
eToro
eToro offers a wide range of cryptocurrencies such as Bitcoin, XRP, as well as crypto-fiat and crypto-crypto pairs. eToro users can connect, learn, copy, and be copied by others.
Buy SAND on eToro Today
bit stamp
Bitstamp is a leading cryptocurrency exchange offering fiat or cryptocurrency trading in general. Bitstamp is a fully regulated company that offers its users an intuitive interface, high security of their digital assets, excellent customer support and multiple withdrawal methods.
Buy SAND now on Bitstamp
