Sandbox Price Records New 52-week High, $1.5 On The Horizon?
Story Highlights
- SAND prices have returned to the $1 mark, rising more than 300% per month.
- The EMA 50/200 daily indicator is showing a golden cross on the 1D time frame, implying a price target of $1.50.
- The short-term bullish price targets are $1.07 and $1.25, respectively.
The cryptocurrency market has reached new highs as Bitcoin price reached the milestone price of $100,000 today. Since then, the altcoin market has seen a significant upward trend, with gaming tokens seeing the largest gains. Furthermore, the SAND token has taken the position of the largest daily gainer.
As the altcoin sets a new 22-month high and breaks through the $1 mark, will it maintain its price momentum and head towards a 29-month high of $1.50 this month? Read CoinPedia’s Sandbox (SAND) price analysis now!
SAND price hits 52-week high!
Sandbox price added 12.67% of its portfolio in 24 hours with a trading volume of $3.977 billion, a change of +120.34%. And it surged 55.35% in 7 days, and 300.47% in the past 30 days.
The 50/200-day EMA is showing a golden cross on the daily time frame. Furthermore, with the significant upward trend on the SAND price chart, this indicates increased buying pressure on altcoins in the crypto market.
The Relative Strength Index (RSI) successfully retested overbought territory and posted a sharp increase. As its moving average continues to act as support, the Sandbox price is likely to continue to appreciate in the coming period.
How high will the SAND cryptocurrency go?
Sustaining the price above the $0.90 support will set the stage for the altcoin to retest the $1.07 resistance. Furthermore, if the bulls gain momentum at this point, this could push the Sandbox price to highs as high as $1.250.
However, a bearish reversal could cause the altcoin to retest the $0.90 support. If the bulls fail to maintain momentum at this point, it could lead to a decline towards the lower support at $0.720 this month.
What’s next for SAND prices after returning to the $1 mark, read CoinPedia’s Sandbox Price Prediction. Also, subscribe to stay up to date on the latest crypto-related news!
FAQ
In early Asian trading today, the SAND crypto token surged about 15% intraday, retesting the psychological barrier of $1.
The ATH of the Sandbox token was $8.44, recorded on November 25, 2021.
The altcoin is currently trading at $0.9320 and has a market capitalization of $2.26 billion.
