The cryptocurrency market has performed positively for the third consecutive day this week.
The cryptocurrency market is performing positively after including 1% to its cost within the last 24 hours. The total market cap stays above $900 billion as Bitcoin and the others create effectively.
Bitcoin has maintained its mark above $20k after including extra than 1% to its cost. Within the last seven days, BTC is up by now now not as much as 1%.
Ether continues to check the $1,200 resistance stage after going up by now now not as much as 1% within the last 24 hours.
On the opposite hand, SAND, the native token of The Sandbox metaverse, is the steady performer amongst the pause 40 cryptocurrencies by market cap. SAND has added extra than 13% to its cost within the last 24 hours and for the time being trades above $1.2 per coin.
SAND’s ongoing rally could perhaps additionally be attributed to the launch of The Sandbox Computer virus Bounty program about a hours within the past.
Based entirely mostly on the workforce, the bounty program is designed to fetch the community enthusiastic and reward customers for reporting bugs on The Sandbox’s neat contracts already in manufacturing.
Key ranges to see
The SAND/USD 4-hour chart is definite as The Sandbox has been performing effectively in most up-to-date days. The technical indicators showcase that SAND is outperforming the broader cryptocurrency market for the time being.
The MACD line crossed into the sure zone earlier this week and has remained there as SAND has been rallying.
Meanwhile, the 14-day relative energy index of 71 shows that SAND could perhaps soon enter the overbought space if the momentum continues.
If the rally continues, SAND could perhaps surge past the $1.38 resistance stage before the conclude of the day. A long bullish performance could perhaps uncover SAND are trying to attain the $1.5 resistance point for the first time this month. On the opposite hand, it will want the give a boost to of the broader market to fetch this form of circulation.
