trade now
(BTC) Bitcoin News TodayCryptocurrencyMetaverseNewsPrice AnalysisSandbox (SAND)

Sandbox (SAND) Should Overcome This Hurdle to Shift Trend to Bullish

The last day saw Bitcoin fighting hard to steady beyond the $19.8K level. Meanwhile, bullish efforts bored fruits as recent hours saw Bitcoin surging beyond the $21K value area. The immediate resistance stands at $23.3K. Meanwhile, Bitcoin’s extended upticks would mean short-term surges in the alt market.

Sandbox is among the alternative tokens riding improved waves today. SAND showed some momentum (in recent hours), with the price surging above the $0.89 level. The metaverse token has a challenging resistance zone at $0.97.

Sandbox 1Hr Timeframe

Analysts plotted Fibonacci retracement areas based on Sandbox’s price action from the $1.4 mark to $0.73 within the previous two weeks. The FIB levels placed 23.6% and 38.2% retracements around $0.89 & $0.98, respectively.

These levels represent massive resistance to the altcoin. While publishing this content, SAND has overcome the $0.89 hurdle. Meanwhile, $0.97 represents Sandbox’s local peak. It signified a lower high on SAND charts during the latest downtrend. Moreover, the market structure remained bearish at this publication.

📰  Matrixport: Making Crypto Trading Smarter

Though the altcoin conquered the $0.89 obstacle, it should surpass the resistance at $0.97 for a near-term bullish trend. Furthermore, the value area at $0.96 – $1 offered a massive hurdle within the previous week. Thus, enthusiasts can expect rejections.


Momentum indicators flashed bullish on the 1hr chart. The Relative Strength Index stayed beyond the 50-neutral and protected this mark as support. That showed buyers’ preference. Also, the Awesome Oscillator stayed beyond the zero level, displaying an upside impetus.

Nevertheless, A/D remained worrisome for SAND buyers. The indicator has maintained southward moves in recent days. Though prices surged, the A/D was yet to observe an uptick. That’s because buying volume remained low. Therefore, SAND’s move to $0.97 might encounter rejection, translating to a downward leg in the upcoming days.

Final Thought

Though Sandbox’s shorter timeframe indicators flashed bullish strength, the altcoin saw a faded market within the past days. Increased demand should arrive before SAND presents a decisive upside. Meanwhile, $1 represents a psychological resistance for the asset. Flipping this level would mean sustained upsurges. Else, investors should prepare for reversals into $0.8 – $0.75.

Editorial credit: AndriiKoval /

📰  Goldwell Capital Review - Is Goldwell Capital Scam or Legit? produces top quality content exposure for cryptocurrency and blockchain companies and startups. We have provided brand exposure for thousands of companies to date and you can be one of them too! All of our clients appreciate our value / pricing ratio. Contact us if you have any questions: Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

📰  Matrixport: Making Crypto Trading Smarter

James Carr (Australia)

James is a new research writer for Tokenhell. His articles include broker and exchange reviews, guides and news from all over the crypto-verse. Stay tuned for his recent articles.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button