It Increased by 260 Percent in November! Will This Altcoin Rise Further?

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Especially the metaverse focused projects made serious pricing in November. First of all, The Sandbox (SAND) comes first. Owned by Animoca Brands blockchain the online gaming platform reached a new record with the new news announced late last night. While there has been talk that the price will push the 6 dollar for some time, the gospel that has come has become his biggest supporter. So will the price rise continue?

The Sandbox (SAND)

We mentioned that the $5.70 levels could be caught with the current momentum in the news shared at the last minute last night. It was expected later in the day, and the price rose to $ 5.7. The token, which gained 20% against Bitcoin, increased its market value to $ 4.7 billion.

The token is valued at 14500% on an annual basis, the metaverse he gets his share of increased attention to his projects. The Sandbox, which continues its rise thanks to The Alpha event that will start at 13:00 UTC on November 29 (SAND), which will give 5,000 players a taste of the advanced metaverse experience. However, lucky players will be able to earn unique 3 NFT and 5 thousand dollars worth of tokens. The token, which has been pricing at close to 40% in the last 24 hours, owes this to the Adidas deal, announced last night adiVerse her deal has also received a lot of attention on social media.

The Sandbox (SAND) Price Reviews

The graph is composed of RSI his deviation says that investors should be ready for a surprise. Specifically, the RSI rises in line with the rise of the market. Sometimes it moves in the opposite direction, and nowadays, despite the falling RSI, the price is rising. This development, which can be considered as a sign that momentum is slowing down, is also called a bull trap. This does not mean that the bull trend has ended, but warns against a possible short-term retracement movement.

 

With the price testing $5.45, a pullback to $5.16 is visible at the time of writing. If buyers do not increase the momentum, it is possible that the price will sag from this region to the support of 4.45. In the optimistic scenario, it will be expected that $ 5.45 will turn into support and a new peak of up to $ 6.7 will be targeted.

It is worth acting cautiously for both scenarios, but it is also necessary to remember that no uptrend will be continuous and corrections may be needed.

Disclaimer Of Liability: The information contained in this article absolutely does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and they should conduct their transactions in accordance with their own research.
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