The cryptocurrency market has continued its constructive begin to the week as the main cash are buying and selling within the inexperienced zone.
The cryptocurrency market has been performing properly over the previous two days. Within the final 24 hours, the market has added greater than 3% to its worth, pushing the overall market cap above the $900 billion mark.
Bitcoin surged previous the $21k resistance degree after including 2.5% to its worth over the previous couple of hours. Ether is eyeing the $1,200 psychological degree due to its ongoing rally.
Nevertheless, SAND, the native token of The Sandbox metaverse, is likely one of the greatest performers amongst the highest 50 cryptocurrencies by market cap.
SAND is up by greater than 10% within the final 24 hours and presently trades at $0.935 per coin. The first catalyst behind this constructive transfer is The Sandbox’s partnership with TIMEPieces, the NFT group initiative from TIME.
In a Medium post on Monday, The Sandbox mentioned it has partnered with TIME to develop ‘TIME Sq.’, TIME’s first-ever vacation spot within the metaverse.
Key ranges to look at
The SAND/USD 4-hour chart is presently bullish as SAND has been performing properly in latest days.
The MACD line is throughout the impartial zone, which is an enchancment from the adverse territory it occupied final week. The 14-day RSI of 64 exhibits that SAND might quickly enter the oversold area over the approaching hours or days.
If the market momentum is maintained, SAND might surge previous the $1 psychological degree over the subsequent few hours. Within the occasion of an prolonged rally, SAND might take a look at the $1.08 resistance degree earlier than the tip of the day.
Nevertheless, we’re nonetheless in a bear market, and the bears might regain management. If that occurs, SAND might decline in direction of the $0.83 help degree within the subsequent few hours.