Sandbox (SAND) price rises for the second straight day on Saturday. SAND has rallied greater than 65% from the January 22 lows. Nevertheless, the extent of this rally is predicted to succeed in its saturation level on the 0.50% Fibonacci retracement.
- Sandbox (SAND) worth extends the earlier session’s beneficial properties on Saturday.
- Extra upside if the worth offers a decisive shut above 0.50% Fibonacci retracement.
- The momentum oscillator helps the present upside momentum.
As of press time the SAND is buying and selling at $4.24, up 5.83% for the day. The 24-hour buying and selling quantity stands at $1,353,446,561 with greater than 80% beneficial properties.
Sandbox landed investments from Softbank
The Sandbox is a 3D blockchain-based Metaverse. The elemental purpose behind the latest rally is the announcement from Web3 upcoming LAND sale scheduled for February 10th. The sale will embody over 550+ LAND, 8 ESTATE auctions, and Premium NFTs.
SAND retains eye on 0.382% Fibonacci retracement
On the each day chart, the Sandbox (SAND) worth has fallen under the 0.618% Fibonacci retracement stage, which is extending from the lows of $0.749 at $2.83.
Moreover, the upside momentum acquired help from the 200 DMA at $2.58. The double affirmation leads the beneficial properties thus pulling up the worth in an upward trajectory.
The Day by day Relative Energy Index (RSI) trades at 50 supporting the present upside momentum. The upward slope within the momentum oscillator may push up the worth of $0.382 Fibonacci retracement at $5.58.
Now the worth has moved as much as the 0.5% Fibonacci retracement on the present ranges.
Nevertheless, the ‘double prime’ formation, which is a bearish reversal sample close to $4.50. The worth may retreat towards the $2.84 stage.
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