Why is SAND up by extra than 10% within the closing 24 hours?

Why is SAND up by extra than 10% within the closing 24 hours?

The cryptocurrency market has persevered its obvious launch to the week because the major money are trading within the inexperienced zone. 

The cryptocurrency market has been performing successfully over the final two days. In the closing 24 hours, the market has added extra than 3% to its charge, pushing the total market cap above the $900 billion charge.

Bitcoin surged previous the $21good ample resistance stage after adding 2.5% to its charge over the final few hours. Ether is eyeing the $1,200 psychological stage on account of its ongoing rally.

However, SAND, the native token of The Sandbox metaverse, is one amongst the most productive performers amongst the tip 50 cryptocurrencies by market cap.

SAND is up by extra than 10% within the closing 24 hours and for the time being trades at $0.935 per coin. The main catalyst within the assist of this obvious poke is The Sandbox’s partnership with TIMEPieces, the NFT community initiative from TIME.

In a Medium put up on Monday, The Sandbox acknowledged it has partnered with TIME to provide ‘TIME Sq.’, TIME’s first-ever destination within the metaverse.

Key ranges to notice

The SAND/USD 4-hour chart is for the time being bullish as SAND has been performing successfully in most modern days.

The MACD line is within the just zone, which is an enchancment from the harmful territory it occupied closing week. The 14-day RSI of 64 shows that SAND might maybe well well soon enter the oversold quandary over the impending hours or days.

If the market momentum is maintained, SAND might maybe well well surge previous the $1 psychological stage over the next few hours. In the match of an extended rally, SAND might maybe well well test the $1.08 resistance stage sooner than the tip of the day.

However, we’re aloof in a bear market, and the bears might maybe well well salvage regulate. If that happens, SAND might maybe well well decline in direction of the $0.83 strengthen stage within the next few hours. 

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