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Sandbox (SAND) Price Skyrockets 20% After This, What’s Next?

Sandbox (SAND) price skyrocketed nearly 20% after it integrated with Coinbase Wallet and enabled LAND deployment on Polygon
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Sandbox (SAND) Price Skyrockets 20% After This, What’s Next?

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.

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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 Sandbox (SAND) Price. Source: TradingView

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.

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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.

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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