The SandBox Price up by 6.50% – Time to Buy SAND Coin?
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
The Ethereum-based asset SAND has recorded impressive gains in the last 24 hours, indicating a good time to buy SAND.
The ERC-20 token is amassing even better prospects as it reached an all-time high (ATH) of $5.23 and doesn’t seem to be slowing down. This uptrend is an opportunity for investors to buy SAND and rise with the market.
SAND currently ranks the 41st most valuable coin in the crypto market and is forging ahead to break past its new resistance price. The asset’s rally is due to its strong fundamentals in the crypto ecosystem.
Using technical and fundamental factors, we will see if this is a good time to buy SAND.
SAND: Coin Market Position
The ERC-20 token is trading at $5.28, indicating a 6.50% increase in the last 24 hours. SAND is gaining popularity in the global market with a market dominance of 0.19%.
The asset has a market capitalization of $4.7 billion, a 33.18% increase in the past day and a 24-hour trading volume of $4.4 billion, with a 185.7% increase in the past day.
The cryptocurrency focused on enabling an interconnected metaverse has recorded over 1660% in six months and is gearing for an even higher price peg, signifying that this is a good time to buy SAND.
Ethereum based asset has made a steady uptrend to an all-time high, trading at $0.25 on July 1. The digital token also climbed to the $0.76 price mark on July 24.
The asset continued to build to a higher support price of up to $1.05 on August 30. The token took a glide down to $0.74 on October 19 before skyrocketing to a new high of $2.31 on October 31 and has continued to surge in price.
On November 18, the virtual-reality token reached a new all-time high of $4.49 before shooting to a new high of $5.32 only hours ago.
SAND: Technical and Fundamental Analysis
SAND has presented potential investors with a low-risk opportunity to invest as its impending bull run is backed by an impressive array of technical indicators.
The token is trading above its 20-day moving average (MA) support price of $3.29, indicating a strong bullish trend.
The coin’s long-term indicator also confirms this aggressive bull run, with the 200-day MA support price pegged below its current price at $0.86.
The moving average convergence and divergence (MACD) trend lines show that the buy signal line is dashing up. The Relative Strength Index (RSI) figure of 80 puts the crypto asset in the overbought region.
SAND is currently recording new highs, and its momentum can be attributed to several fundamental factors.
SandBox recently announced the launch of The SandBox Alpha, a multi-week play-to-earn (P2E) event which promises to offer players the chance to explore the SandBox Metaverse through 18 experiences (XP) created by the team at SandBox.
The Alpha event will be regulated with an NFT ticket called the Alpha Pass, granting players the chance to earn up to 1,000 SAND for completing objectives on the Alpha and three exclusive NFT rewards.
Other news which also contributes to the increasing price action of SAND is the hovering report of a likely partnership with popular clothing brand Adidas.
The partnership could mean the design and launch of Adidas on The Sandbox metaverse. The impact of this partnership is already causing a frenzy in the crypto world and could result in a jet-like hike in the price of SAND in the next couple of weeks.
Buy SAND at eToro from just $50 Now!
