- The latest bullish actions saw SAND gaining 16.3%.
- Metaverse news supported the surge, with tech giants Sony, Microsoft, and Meta among the leading players in the Metaverse Standards Forum.
- Technical indicators flash bullishness, with Sandbox staying beyond the 200-day EMA.
Saturday sessions had Sandbox gaining 16.3%, following metaverse news. Friday’s 8.6% increase saw SAND closing Saturday the day near $1.278. Meanwhile, mixed morning had the alternative token declining towards the $1,0780 before moving. Keeping massive support zones saw Sandbox overcoming the day’s crucial resistance zone to the $1.329 late peak.
However, a late correction dragged Sandbox’s price back through the 3rd massive resistance at $1.3063, closing the day around $1.278. While securing backing from the overall market, Metaverse updates supported the upside breakout. That saw SAND extending its ongoing winning streak. The metaverse coin has surged in seven consecutive sessions.
Meta, Epic Games, Sony, and Microsoft joined the list of tech companies revealing the Metaverse Standards Forum formation. Over 30 names within the tech sector have created a collaboration to back the metaverse evolution.
Sandbox Price Action
Sandbox traded with massive gains at this publication. The alternative token gains 11.65% within the past day to $1.31. Meanwhile, morning sessions saw the alt on mixed moves, climbing to $1.294 and plummeting to the $1.248 lows before surging again.
Sandbox’s upside emerged as the broad market saw improved sentiments. Avoiding the pivot at $1.2285 would support upswings towards the initial crucial resistance zone at $1.3782. Maintaining the current outlook will see the crypto overcoming the $1.329 Saturday peak without a hassle.
Extended rallies would see SAND testing the resistance near $1.40 before approaching the second critical resistance zone at $1.4794. Another obstacle will showcase at $1.7303.
Losing momentum around the pivot can see SAND at the initial massive support barrier at $1.1277. excluding stretched crashes, Sandbox should prevent slides to sub-$1.10. The alternative token would meet the second crucial support floor at $0.9770.
The exponential moving averages and the 4hr candle chart present a bullish sign. Morning sessions saw SAND steadying beyond the 200-day Exponential Moving Average, currently around $1.1740.
Moreover, the 50EMA offered support after converging on the 100-dayEMA. The 100-dayEMA narrowed into the EMA200, revealing positive price actions. SAND should evade sub-$1.20 to stretch its winnings into the 8th session.
Editorial credit: Dennis Diatel / shutterstock.com
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