The cryptocurrency market has carried out nicely within the final 24 hours after a poor begin to the week.
The cryptocurrency market has carried out nicely over the previous 24 hours. The market has added greater than 5% to its worth to this point right this moment, with the full market cap now above the $900 billion mark as soon as once more.
Bitcoin, the world’s main cryptocurrency, is up by almost 5% right this moment and at the moment trades above $21k per coin. Ether can also be buying and selling above $1,100 per coin after rallying by over 9% within the final 24 hours.
SAND, the native token of The Sandbox ecosystem, has additionally been performing excellently in the previous couple of hours.
SAND has added greater than 10% to its worth over the previous 24 hours because the broader cryptocurrency market embarks on a sluggish restoration.
The Sandbox’s ongoing optimistic efficiency may be attributed to its partnership with Lionsgate. The Sandbox introduced its partnership with Lionsgate, a worldwide content material chief, and its companion Millennium Media, in a Medium post on Wednesday.
The partnership will see the entities develop “Motion Metropolis”, a devoted LAND that can function an exciting leisure vacation spot that includes voxelized characters and objects.
Key ranges to observe
The SAND/USD 4-hour chart is at the moment bearish regardless of The Sandbox performing nicely within the final 24 hours. The bearish development previously couple of days negatively affected SAND’s broader efficiency.
The MACD line stays under the impartial zone however has been shifting in the direction of the optimistic area because of the continued rally. The 14-day RSI of 44 reveals that SAND is not within the oversold area.
At press time, SAND is buying and selling at $0.864 per coin. If the rally continues, SAND might surge previous the primary main resistance stage of $1.02 earlier than the tip of the day.
Nevertheless, the second main resistance stage at $1.13 ought to present a harder problem for the bulls to beat within the close to time period.
If the bears regain management of the market, SAND might decline under the $0.80 mark for the second time this week.