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The Sandbox price soared 28% in the last 24 hours to trade at $0.8005 as of 11:40 a.m. EST on trading volume that surged 305% to $6.4 billion.
SAND earlier surged to an 8-month high of around $0.93, surpassing the $0.81 resistance that occurred in March.
Sandbox Price On A Continued Rally
The SAND/USD chart shows that the Sandbox price is on a strong bullish trend emerging after a prolonged period of consolidation. Recent price action has broken out of resistance levels, and the significant rally indicates strong buying momentum, which has pushed the price of Sandbox to a 132% surge for the $0.3375 support zone, according to data from GeckoTerminal.
The SAND price now trades gracefully above both the 50-day and 200-day Simple Moving Averages (SMAs), as it coincides with the parabolic rise pattern.
Moreover, the Relative Strength Index (RSI) is at 88.08, which is significantly overbought (above 70 typically indicates overbought conditions). This suggests that the price may be due for a pullback or consolidation, as such extreme levels of RSI are not usually sustainable over a long period.
The Moving Average Convergence Divergence (MACD) line (blue) is at 0.0907, and the signal line (orange) is at 0.0480, showing a widening gap between the two. This divergence confirms bullish momentum. The histogram is strongly positive, as the green bars rally above the zero line, further validating the strength of the current rally.
SANDUSD Chart Analysis Source: GeckoTerminal
Sandbox Price Prediction
Based on the SAND/USD chart analysis on the 4-hour timeframe, the Sandbox price is currently on a sustained bullish trend, which the bulls aim to sustain. If the bulls capitalize on the positive indicators, the SAND price could surge, likely pushing it to the next possible target at $1.5.
Conversely, the RSI now shows that the asset is highly overbought and may be overextended. This shows that the Sandbox is due for a pullback to allow for a cool-off. If this happens, SAND could plunge back to the 50-day SMA now acting as the next possible support at $0.31.
As the Sandbox price soars, investors are also piling into a new meme coin called Crypto All-Stars (STARS). ClayBro, a popular crypto YouTuber with over 130K subscribers, says STARS could soar 10X after its launch in about 25 days.
Crypto All-Stars Raises Over $5.7 Million – Presale Ends In 25 Days
Crypto All-Stars has raised over $5.7 million as investors pile into the innovative project before its presale closes in about 25 days.
Its MemeVault protocol gives investors the chance to stake multiple meme coins on a single platform for the first time.
Dogecoin, Shiba Inu, PepeCoin, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk can all be staked on the platform from launch, and the team has plans to add more meme coin titans in the weeks ahead.
Why Is Everyone Excited?
In its initial presale phase, Crypto All-Stars raised over $350k! 💰
This early success shows that investors see BIG potential here. 🚀
Could this be the next $PEPE? 👀
— web3telepath (@web3telepath) August 15, 2024
You can also earn passively through the project’s native staking mechanism, which offers an impressive 338% annual percentage yield (APY) on staked STARS tokens.
You can buy STARS tokens now for $0.0016125 each from the official website here using BNB, USDT, or a bank card.
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