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The Sandbox (SAND) price skyrocketed nearly 20% after the metaverse platform integrates with Coinbase Wallet and enabled LAND deployment on Polygon. The SAND price is currently trading at $1.15 on the back of the increasing trading volume and number of users.
The Sandbox (SAND) Price Soars Higher
The Sandbox (SAND) prices have jumped nearly 20% in the last 24 hours, making a high and low of $1.17 and $0.95, respectively. In the 7 days, SAND prices have increased by almost 6% indicating a rise in interest among investors. The next critical resistance is at $1.30, if the price sustains above $1.30 a bullish trend can be seen.
However, if it fails to break above the critical resistance level, the Sandbox price will move in the range between $1.13-$1.20 in the upcoming week.
The price is trading above the 50-day EMA moving upwards in an ascending channel. Moreover, 12-day EMA crosses over the 50-day EMA, which indicates a bullish crossover. The trading volume has increased immensely above 70% in the past 24 hours. The RSI has jumped from near the oversold zone to above the neural line, currently at 52.
The bullish rally has flipped the $1.11 resistance, indicating the buyers are attempting another push. As mentioned in a previous article, if the SAND buyers give a candle closing above the $1.11 mark, the bullish momentum could push the Sandbox 33% higher to the $1.52 mark.
Here’s What Impacting the Price Rally
The Sandbox project has been the most-traded Polygon NFT collection on OpenSea in the last 7 days. This week, The Sandbox reported two major announcements, integration with Coinbase Wallet and LAND deployment on Polygon.
The custom Polygon Bridge will allow users to move SAND and LAND from Ethereum to Polygon. It offers faster transaction speed, less gas fees, and greener interactions on the blockchain, with supply, value, and utility of LAND and SAND remaining the same. Moreover, users will also be able to transfer ASSET and EXPERIENCE tokens to their smart contracts on the Polygon network.
The Sandbox also integrated Coinbase Wallet into the Sandbox ecosystem. The firm believes the Coinbase Wallet support will bring more users into The Sandbox metaverse and gaming platform.
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