Sandbox (SAND) Price Ready To Test $5.00 On The Daily Chart

Source : coingape.com

https://cdn.coingape.com/wp-content/uploads/2022/01/11195836/The-SandboxSAND-Cover.jpg

Sandbox (SAND) price remains resilient near $3.90 as consolidates for the consecutive two sessions. On the last day of this month, the price is not in a mood to showcase any wild swing moves as the pair is waiting for a catalyst to push the price upwards.

  • Sandbox (SAND) gains on Monday in the early US session.
  • Expect an upside toward $50 DMA near $5.00.
  • Unix gaming announces strategic partnership with the Sandbox

At the time of writing, SAND/USD is trading at $3.82, down 0.92$ for the day. The live market cap of the metaverse coin is at $3,553,339,888 with a 24-hour trading volume of $1,197,492,596 with a rise of 4.54%.

Strategic Partnership with UniX Gaming could bring the desired U-Turn in the Sandbox

UniX Gaming announced its strategic partnership with Sandbox. The aim is to become an ecosystem builder in the Sandbox metaverse. Sandbox is leading the metaverse space coin after having acquired numerous bid brand partnerships from the traditional world, like Snoop Dogg, Deadmau5, Adidas, and the walking dead.

Source: Trading view

Technically speaking, the Sandbox (SAND) has shown some remarkable recovery from the recent lows of $2.62. However, the upside momentum took a breather near the support-turn-horizontal line at $3.90. It would be a make-or-break level for the metaverse coin.

The daily relative strength index (RSI) reads at 45 with a bullish crossover on January 27. But another momentum oscillator, the MACD (Moving Average Convergence Divergence) still holds onto the oversold zone. An uptick in the indicators could result in wide price swings in SAND.

The first upside target could be seen at the 50-DMA near $5.0. This also will be the intersection point of the bearish slopping line from the highs of $8.48 made on November 25. Next, a market participant would place their bet on the $6.0 psychological mark.

On the flip side, the ‘Doji’ candlestick is a signal of indecision among investors. If the next candle is a black one then it could invalidate the bullish thesis in the short term.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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