The Sandbox (SAND) Price Primed to Hit $1 After Momental Surge— Decentraland (MANA) Price to Follow the Suit
For quite some time, the NFT space has been in the shadows as the newly created sector has dominated the cryptocurrency market. Additionally, market participants’ growing interest in memecoins has hindered the rest of the cryptocurrency space from flourishing. However, a strong bull run appears to have begun, which could shake up various market sectors, including NFTs, as SAND prices led the pack among the top gainers.
this sand price A huge God Candle was printed over the weekend, bringing the coin back into bullish territory. The platform’s trading volume jumped more than 400%, from less than $200 million to more than $5.5 billion, indicating a major shift in trader sentiment. Therefore, SAND price is hitting weekly resistance, which could lead to a decline, so more vigilance is needed in this range.
The weekly chart for SAND price suggests that the coin is testing a key resistance zone between $0.8198 and $0.8993. The coin has been unable to break out of this area over the past two years, making it a very important level to clear. Rising buying pressure could help prices continue higher. Additionally, the RSI has entered overbought territory, and until it sustains there, bullish possibilities may be imminent.
Therefore, the sandbox price may face a minor pullback due to the breakout of the falling wedge. After a minor retest, a move above this area may be imminent, with a move above the 200-day EMA at $1.02 likely validating a strong uptrend toward higher targets.
Will Decentraland (MANA) Price Follow the Trend?
Historically, SAND and MANA prices have been closely correlated. MANA price is also testing one of the key resistance areas that it has failed to reach over the past few years. However, in a slightly different twist to SAND, technicals suggest the price could fall by more than 30% if bulls fail to hold key support levels.
MANA price has reached a critical area which appears to be dominated by bears as they tend to push the price lower after every contact. The RSI has reached overbought territory, indicating the possibility of a bearish divergence, while the Ichimoku Cloud signals the end of the bearish trend. Therefore, Decentraland’s price is expected to remain within this range for some time, and as market sentiment heats up, the coin may break through resistance and return to $1.
