SAND Technical Analysis - Bulls Ready To Outpass $20

Описание: We are here yet again to enlighten you with predictions from the Crypto community!!
And today we present to you a technical analysis video on the SAND Token!
The Sandbox is a unique platform because it introduces blockchain technology to the world of gaming. The gaming industry is a huge untapped market when it comes to the adoption of blockchain tech, and Pixowl saw that in 2011. By creating a universe where gamers can create and collect blockchain-based assets, the Sandbox aims to revolutionizes the market. It makes a niche for itself in the global market of gaming.
The live SAND token price today is $3.35 with an intraday trading volume of $1,442,492,879. The coin price is up by 5.36% in the last 24 hours. With a live market cap of $1.83 Billion, SandBox remains in the top 3 coins in the metaverse token fields.

The SAND coin price struggled to sustain above the 200-day EMA resulting in the downfall to the psychological support of $3. The active buying spree to capture the dip propelled the price higher after a week of consolidation. The sudden surge of confidence among the investors comes with the overall market showing recovery and is on the verge of reaching the $2 Trillion mark.

Let’s have a deepened insight into technical analysis of SAND token and see what the indicators have to say about it.
The SAND coin price action shows a long-coming resistance trendline that has increased supply multiple times to crush the bullish recovery attempts. However, the anticipation of overall market recovery with the Bitcoin (BTC) approaching the $45K mark increases the chances of a breakout.

The crucial Exponential Moving averages show a temporary bullish as the 50 and 100-day EMAs are merged, threatening a bearish crossover. However, the prices recently crossed above the 200-day EMA, indicating the increased buying potential.

The MACD indicator shows a sharp reversal in the fast line as it merges with the slow line to give a bullish crossover possibly. However, the MACD histograms tease the start of a bullish phase.

The RSI Indicator slope shows a spike after the recent bullish divergence within the consolidation near $3. The slope outperforms the 14-average and marks the start of a potential rally to the overbought zone.
In short, the SAND technical analysis shows the buyers' spirit getting lifted that may shortly surpass the descending trendline.

The SAND coin price gains bullish momentum and hints of surpassing the $4 mark shortly. Moreover, being built on the Ethereum blockchain directly correlates the Sandbox token prices and Ether prices. Additionally, the ETH token price crossing the $3K mark improves the sentiment for Sandbox. Hence, traders can observe a continuation or increment in the ongoing buying spree.

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