- SAND price remains bearish today.
- The resistance stands at $2.9.
- Sandbox has a crucial support barrier at $0.9.
Sandbox (SAND) analysis shows the altcoin on a partial bearish move as SAND/USD moves towards $1.5. SAND witnessed a sudden fall as the broad market crashed on 12 May, sending the metaverse crypto towards the $0.9 lows. However, the alternative token reclaimed optimistic strength the following day. Sandbox started surging on 13 May, exploring the $1.4 value area. While writing this content, SAND traded at $1.48, gaining 28.55% over the previous 24 hours.
The market dynamic seems massively bullish, ensuring a suitable environment for the surging SAND prices. While writing these lines, the cumulative market capitalization stood at $1.32 trillion, following a 9.76% gain within the previous 24 hours.
Sandbox 4Hr Timeframe – Recent Developments
SAND’s 4hr charts show decreasing volatility for the market. For now, Sandbox will likely change as volatility shifts to either extreme. Remember, reduced volatility increases the probability of price fluctuations. The upper Bollinger band’s limit serves as a crucial resistance at $1.9. On the hand, the BB’s lower band stood at $0.9, representing SAND’s dependable support level.
SAND/USD seemed to cross beyond the Moving Average curve, suggesting an optimistic trend. Also, the market trend became more liable as the volatility appeared to increase. However, the alternative token has its price in an upside direction, displaying a positive outlook and a bullish trend.
The 4-hour chart places the Relative Strength Index at 49, showing that the token remained steady within the neutral level. Also, the RSI follows an upside path, reflecting price increases in Sandbox. Moreover, the RSI score increases due to the persistent buying activities that game SAND a steady dynamic.
For now, the road with few hurdles for SAND is the downside. That means the altcoin can stretch its upside moves in the near term. Nevertheless, enthusiasts should consider Bitcoin’s move as it can impact the broad market.
Final Thought
Analyzing SAND’s current price actions shows bulls in control. The token has targeted the $1.5 mark for some time and appears to gain the strength to attain the goal. Moreover, bulls seem committed to extending the upswings.
