The cryptocurrency market has carried out positively for the third consecutive day this week.
The cryptocurrency market is performing positively after including 1% to its worth within the final 24 hours. The whole market cap stays above $900 billion as Bitcoin and the others carry out effectively.
Bitcoin has maintained its worth above $20k after including greater than 1% to its worth. Within the final seven days, BTC is up by lower than 1%.
Ether continues to eye the $1,200 resistance degree after going up by lower than 1% within the final 24 hours.
Nevertheless, SAND, the native token of The Sandbox metaverse, is the perfect performer amongst the highest 40 cryptocurrencies by market cap. SAND has added greater than 13% to its worth within the final 24 hours and at the moment trades above $1.2 per coin.
SAND’s ongoing rally may be attributed to the launch of The Sandbox Bug Bounty program a couple of hours in the past.
Based on the staff, the bounty program is designed to get the neighborhood concerned and reward customers for reporting bugs on The Sandbox’s sensible contracts already in manufacturing.
Key ranges to look at
The SAND/USD 4-hour chart is constructive as The Sandbox has been performing effectively in current days. The technical indicators present that SAND is outperforming the broader cryptocurrency market in the intervening time.
The MACD line crossed into the constructive zone earlier this week and has remained there as SAND has been rallying.
In the meantime, the 14-day relative power index of 71 reveals that SAND may quickly enter the overbought area if the momentum continues.
If the rally continues, SAND may surge previous the $1.38 resistance degree earlier than the tip of the day. An prolonged bullish efficiency may see SAND try to succeed in the $1.5 resistance level for the primary time this month. Nevertheless, it could want the help of the broader market to make such a transfer.