• The Sandbox hovers at around the $0.29 range.
  • SAND’s 24-hour trading volume has surged by 37%.

Multiple recovery attempts have brought a bullish wave within the crypto market yesterday, with all major assets priced in green. As of today, the gains have diminished, and the assets display mixed sentiment. Notably, the Fear and Greed Index value is holding at 65, reflecting greed in the market. 

The assets, like KAIA, JTO, and UNI, have secured the top three spots among the gainers. Meanwhile, The Sandbox (SAND) has posted a spike of over 1.95% within the last 24 hours. 

SAND opened the day trading at around a low of $0.2899. With the bullish shift, the asset has sent the price to a high of $0.3032, likely breaking the crucial resistances at $0.2948 and $0.3015. More upside can be present if the powerful bulls take control of the asset. 

At the time of writing, The Sandbox is valued at $0.2955, with the market cap reaching $750 million. Also, the daily trading volume has increased by over 37.60%, touching $80.81 million. 

Is TheSandbox About to Gain More?

SAND’s four-hour price chart has revealed a clear bullish shift with the recent green candlestick formation. The asset could find its initial resistance within the range of $0.3012. A potential upside correction might pressurise the asset upward to send the price above the $0.3020 mark.

Assuming the asset’s momentum turns red, the price might fall toward the $0.2930 level, might push the asset down to its recent lows. An extended downside correction of the asset could likely trigger The Sandbox to revisit the $0.2911 mark or even lower. 

Can The Sandbox (SAND) Blast Toward $0.35, or Will the Bears Crash the Price? image 0 SAND chart (Source: TradingView )

Moreover, the Moving Average Convergence Divergence (MACD) line of the asset is positioned above the signal line. This indicates a positive sentiment, with more uptrend may follow. Besides, The Sandbox’s Chaikin Money Flow (CMF) indicator, found at 0.16, suggests that the money is flowing into the asset.  It is a bullish signal, especially if it aligns with volume and price.

Furthermore, the daily relative strength index (RSI) of the asset at 65.42 signals that it is approaching overbought territory . SAND’s Bull Bear Power (BBP) reading, resting at 0.0140, hints at a mild bullish pressure in the market. But the momentum is weak, and a stronger confirmation is yet to come.

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