Cryptocurrency market investors are flocking to metaverse-based altcoins. Sandbox continues its operations as a platform in the metaverse universe. The local token of the platform SAND, which was followed by a successful performance with a 7.100% gain in the one-year timeframe.
The Rise of SAND Continues
The sandbox allows users to get gaming experience on the Ethereum blockchain, such as buying/selling land and earning dec. The local crypto currency of the platform SAND, it has climbed up to $ 2.87, an increase of over 74% in the last 24 hours. An upward triangle break on the SAND chart triggered a price increase.
The SAND price broke the upper trend line on October 27, after the triangle pattern began to form about two months ago. The price of crypto currency increased by 300% during the continuation of the break. SAND the next targets in his name were set at $ 3.72 and $ 4. Continuing its upward direction after the 42% correction recorded on October 31, SAND experienced an explosion following the Socios agreement.
Graphics and Comments
However, in the 4-hour charts, the metaverse-based crypto currency shows an upward trend. The RSI and MACD indicators reveal data confirming the upward trend. The Awesome Oscillator indicator stands out as another indicator confirming the rise.
The RSI has reached the overbought zone with 78, and exceeding this zone may entail a correction move. In this case SANDin order to destroy the 500% fibo extension, it is necessary to register an increase of 23%. Given the recent upward momentum SANDthe climb of the 4 dollar levels will not be a surprising development.
As a result, according to expert comments, the RSI, which creates more than one peak in the overbought zone, should be closely monitored. A wave of sales can be softened at the 300% fibo level, while 161.8% will require the phobia level to rise once again.