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Saturday, January 28, 2023
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    HomeMarketThe Sandbox (SAND) adds a weekly 14%. Is the cryptocurrency now bullish?

    The Sandbox (SAND) adds a weekly 14%. Is the cryptocurrency now bullish?

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    • The Sandbox token gained an intraday 7% and 14% in every week

    • The cryptocurrency has been hit arduous by a slowdown in metaverse exercise

    • SAND faces rejection on the descending trendline

    The Sandbox price (SAND) rose by greater than 7% on Monday, extending the weekly features to almost 14%. The restoration got here amid a protracted bear market and restricted exercise within the metaverse. However how far can the Sandbox token maintain the restoration?

    SAND trades at $0.62, a big drop from its all-time excessive of $8.5 in November 2021. The decline has been fueled by a protracted crypto growth and a slowdown in metaverse exercise. Because the crypto sector recovers and extra companies enter the nascent virtuality actuality house, SAND can be again to a rally. However that’s in the long run. The short-term reveals that the Sandbox token may proceed rising, however bulls will face a significant check on the descending trendline.

    SAND value evaluation and outlook as momentum improves

    From the chart under, SAND has been buying and selling on a system of decrease lows and decrease highs. That has resulted within the formation of a descending trendline. 

    SAND/USD Chart by TradingView

    The RSI has shifted above the midpoint for the primary time since November 9. A bullish MACD crossover was initiated not too long ago, consistent with the bettering momentum. Nonetheless, the MACD stays under the impartial level.

    What subsequent for SAND?

    The short-term rally within the Sandbox token is more likely to be sustained within the quick time period. To substantiate a sustained surge, the token should overcome the descending trendline. If contemplating buying SAND now, watch out for a possible rejection at or close to the descending trendline.

    On the flipside, if SAND rises above the descending trendline, the subsequent potential degree to look at can be $0.93. 

    The place to purchase SAND

    eToro

    eToro presents a variety of cryptos, corresponding to Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro customers can join with, be taught from, and replica or get copied by different customers.


    Buy SAND with eToro today

    Bitstamp

    Bitstamp is a number one cryptocurrency change which presents buying and selling in fiat currencies or standard cryptocurrencies.

    Bitstamp is a totally regulated firm which presents customers an intuitive interface, a excessive diploma of safety on your digital belongings, glorious buyer help and a number of withdrawal strategies.


    Buy SAND with Bitstamp today



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