The cryptocurrency market has continued its optimistic begin to the week as the most important cash are buying and selling within the inexperienced zone.
The cryptocurrency market has been performing nicely over the previous two days. Within the final 24 hours, the market has added greater than 3% to its worth, pushing the full market cap above the $900 billion mark.
Bitcoin surged previous the $21k resistance degree after including 2.5% to its worth over the previous few hours. Ether is eyeing the $1,200 psychological degree because of its ongoing rally.
Nonetheless, SAND, the native token of The Sandbox metaverse, is likely one of the greatest performers amongst the highest 50 cryptocurrencies by market cap.
SAND is up by greater than 10% within the final 24 hours and at the moment trades at $0.935 per coin. The first catalyst behind this optimistic transfer is The Sandbox’s partnership with TIMEPieces, the NFT group initiative from TIME.
In a Medium post on Monday, The Sandbox stated it has partnered with TIME to develop ‘TIME Sq.’, TIME’s first-ever vacation spot within the metaverse.
Key ranges to observe
The SAND/USD 4-hour chart is at the moment bullish as SAND has been performing nicely in latest days.
The MACD line is inside the impartial zone, which is an enchancment from the unfavorable territory it occupied final week. The 14-day RSI of 64 reveals that SAND may quickly enter the oversold area over the approaching hours or days.
If the market momentum is maintained, SAND may surge previous the $1 psychological degree over the following few hours. Within the occasion of an prolonged rally, SAND may check the $1.08 resistance degree earlier than the top of the day.
Nonetheless, we’re nonetheless in a bear market, and the bears may regain management. If that occurs, SAND may decline in the direction of the $0.83 help degree within the subsequent few hours.