The cryptocurrency market has continued its constructive begin to the week as the foremost cash are buying and selling within the inexperienced zone.
The cryptocurrency market has been performing properly over the previous two days. In the final 24 hours, the market has added greater than 3% to its worth, pushing the whole market cap above the $900 billion mark.
Bitcoin surged previous the $21k resistance degree after including 2.5% to its worth over the previous few hours. Ether is eyeing the $1,200 psychological degree due to its ongoing rally.
However, SAND, the native token of The Sandbox metaverse, is among the finest performers amongst the highest 50 cryptocurrencies by market cap.
SAND is up by greater than 10% within the final 24 hours and at the moment trades at $0.935 per coin. The major catalyst behind this constructive transfer is The Sandbox’s partnership with TIMEPieces, the NFT neighborhood initiative from TIME.
In a Medium post on Monday, The Sandbox mentioned it has partnered with TIME to develop ‘TIME Square’, TIME’s first-ever vacation spot within the metaverse.
Key ranges to observe
The SAND/USD 4-hour chart is at the moment bullish as SAND has been performing properly in latest days.
The MACD line is throughout the impartial zone, which is an enchancment from the detrimental territory it occupied final week. The 14-day RSI of 64 reveals that SAND might quickly enter the oversold area over the approaching hours or days.
If the market momentum is maintained, SAND might surge previous the $1 psychological degree over the following few hours. In the occasion of an prolonged rally, SAND might check the $1.08 resistance degree earlier than the top of the day.
However, we’re nonetheless in a bear market, and the bears might regain management. If that occurs, SAND might decline in the direction of the $0.83 assist degree within the subsequent few hours.