Sandbox (SAND) has been bouncing positively in the previous few days. Information that the US goes to launch a digital greenback improved sentiment out there. Most cash, together with SAND, noticed bumps in worth. However an rising RSI divergence might recommend that SAND might in reality surge additional forward. Listed below are some highlights:
Regardless of pulling again barely, SAND nonetheless stays above the essential assist of $2.74.
The metaverse token was buying and selling at $2.81 on the time of scripting this publish.
The RSI reveals an important divergence that might push the worth additional within the days forward.
Information Supply: Tradingview
Sandbox (SAND) – How far can it go?
Sandbox (SAND) has come below extreme promoting strain in the previous few weeks. However the coin has maintained its month-to-month assist of $2.74. Though there may be nonetheless lots of volatility out there, we anticipate SAND to maintain worth motion above that time. At press time, the coin was truly buying and selling at $2.81.
The $2.74 mark, no less than trying during the last month, has additionally been an important consolidation zone. If certainly SAND is ready to consolidate beneficial properties above it, there may very well be an upside in the direction of the following overhead resistance of $3.42.
However regardless of this, SAND nonetheless stays decrease than its 50 and 100-day day by day shifting averages. The coin is even decrease than the 200 DMA. This implies the general pattern stays bearish at greatest. In truth, if bulls don’t maintain the $2.74 assist, SAND might fall beneath $2 very quickly.
Is Sandbox excellent for any investor?
Nicely, it actually depends upon your funding plan. For people who need some publicity on the metaverse and associated tokens, then SAND is an efficient purchase. Keep in mind, this was one of many top-performing cash in 2021, and it might return the identical beneficial properties this 12 months. It is due to this fact an excellent coin to buy right now.