Here’s Why Sandbox Coin Could Hit $1 In Coming Weeks – Crypto News – Crypto News
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The Sandbox (SAND) Price Skyrockets 20% After This, What's Next? The Sandbox (SAND) Price Skyrockets 20% After This, What's Next?

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Here’s Why Sandbox Coin Could Hit $1 In Coming Weeks – Crypto News

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3 years ago

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Published 11 minutes ago

On January 17th, the Sandbox coin price gave a massive breakout from the long coming resistance trendline of the parallel channel pattern, In theory, a bullish breakout from this pattern indicates a recuperation of bullish momentum and a sign of a bullish recovery rally. In response to this pattern, these prices are currently trying to breach the $0.8 resistance. Should you enter now?

Key Points:

  • A bullish breakout from $0.8 sets the SAND price for a new term target of 25%.
  • The reclaimed EMAs(20, 50, and 100) could support the coin price in case of possible pullback.
  • The intraday trading volume in SAND price is $525 Million, indicating a 226% gain.

Sandbox CoinSource- tradingview

Earlier this week, amid a minor consolidation in the crypto market, the SAND price managed to retest the breached trendline as valid support. During the retest phase, the SAND price held about the trendline, indicating that the prices could sustain higher levels.

The post-correction rally has appreciated the Sandbox price by 17.6% in the last three days, currently trading at the $0.81 mark. Furthermore, with the increasing volume activity, the buyers attempt to breach the following resistance of $0.8.

Also Read: CRYPTO TELEGRAM CHANNELS LIST 2023

If the daily candle closes about the $0.8 resistance, the buyers will gain a suitable launchpad to fuel further price rallies. The post-breakout rally could surge the price 25% higher to challenge the $1 mark.

However, as per the technical setup, a breakout from the parallel channel pattern would lead a price rally to the highest swing top, which for Sandcoin price is $1.5.

However, if this altcoin is struggling to sustain around the $0.8 barrier, the price action could run sideways for a few trading sessions.

technical indicators

RSI: The daily RSI slope moving in the overbought region indicates excessive buying in the short term. Therefore a correction phase is needed to stabilize the prices for the next recovery cycle.

EMA’s: the 20 and 100-day EMA nearing a bullish crossover could attract more buying orders in the market.

Sandbox Coin Price Intraday Levels

  • Spot price: $0.8
  • Trend: Bullish
  • Volatility: Medium
  • Resistance level- $0.8 and $1
  • Support levels- $0.645 and $0.53.

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian(at)coingape.com

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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