- 1
SAND price saw a rise by about 15% in intraday session. - 2
The volume for SAND shows a spike by 174% in the last 24 hours. - 3
The Sandbox opened the first-ever Irish pub in the metaverse.
SAND price saw a rise after the launch of the first-ever Irish pub in the metaverse in The Sandbox on St. Patrick’s Day, where many were invited. The launch of daily-ventures on the metaverse platforms encapsulates the concepts of humanity and dynamic technology. The experience of the visitors at the Irish pub was ‘delightful.’
Welcome to 𝑻𝒉𝒆 𝑺𝒉𝒆𝒃𝒆𝒆𝒏 by @hermitcrabgame!
Sláinte https://t.co/pqcWVqZOdw pic.twitter.com/iC8lQgQJ2H
— The Sandbox (@TheSandboxGame) March 17, 2023
The Shebeen Irish Pub experience on The Sandbox had a treasure hunt in store for the visitors. They could look for different life-like features that make the experinece one of a kind.
The Picturesque
SAND price shot up after the successful launch of Shebheen Irish Pub. The trading volume shows increased participation by investors. Rising OBV also suggests the present scenario is favorable for SAND. The Fib retracement levels showed that SAND price reclaimed the trendline and broke out of the third level. The rally may face slight resistance near the fourth level at $0.744. If breached successfully, it can rally up to $0.89.
The rise in SAND price sent CMF above the baseline to mark a bullish momentum. The MACD lines diverged and formed a positive cross while recording ascending buyer bars. The RSI moved to the range of 50 indicating rising bullish dominance. Overall, the indicators show bullish signals and favor the price movement.
The Peephole
The smaller time frame suggests SAND price will face resistance temporarily. The CMF moves to higher ranges in the positive zone to mark a bullish trend. The MACD forms a positive cross and records tall buyer bars. The RSI retraces from the overbought zone to mark controlled buyer interaction. The indicators show bulls facing competition and stumbling to rally.
Conclusion
SAND price witnesses a rally of about 15% during the intraday session. The volume shows higher buyer interaction after the launch of the Irish pub on the Sandbox metaverse. The market experiences a bullish swing, partly due to the market leader – BTC – rallying for the past few sessions. The crypto market saw an uptrend supporting the rally in SAND price. The holder can rely on the support near $0.59 and track the rally through retracement levels.
Technical levels
Support levels: $0.59 and $0.50
Resistance levels: $0.74 and $0.89
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/03/18/sand-price-rose-but-could-fall-now-irish-pub-fuels-uptrend/