The Sandbox(SAND) price has been stuck between $3.30 and $2.66 for over a month. The coin price had risen to a powerful resistance trendline, teasing a bullish breakout, thanks to the recent bull cycle. Sandbox experienced a surprising 21 percent intraday pump a few days ago, pushing the altcoin beyond the $3.3 mark. The altcoin has retested this $2.65 monthly support numerous times, showing that this is a major accumulation zone.
The gaming token has been a poor performer in recent months, and it appears that it is still under pressure. The coin is breaching the bullish triangle with a small retest, according to Bitcoinsensus on Twitter. This might be a push to $3.382 and $3.665 as target.
The coin has declined since reaching recent highs of $4.8 on February 07, 2022, but if the price rises above $4 resistance again, it will be a signal to trade SAND. The next price objective could be around $4.5 or possibly $5; however, a break of $3 support would indicate a downtrend.
At the time of writing SAND is trading at $3.22 and is up by two percent in the last 24 hours.
Sandbox Shines in a Funding Round!
The price of Sandbox has risen relatively well, following the developers’ recent $93 million funding round from a group of investors. Softbank, Galaxy Interactive, Animoca Brands, and Liberty City Ventures were among the investors who led the capital raise. The monies will be used by the developers to assist the ecosystem’s creators, which will help it flourish.
SAND is the Sandbox platform’s native token, and it is used to conduct transactions. SAND is an ERC-20 token, which means it may be traded alongside other Ethereum-based tokens. The coin may be used to play games, purchase equipment, and modify Avatar characters, while creators can use it to acquire assets.
Was this writing helpful?
Source: https://coinpedia.org/altcoin/sandbox-sand-price-primed-to-hit-3-665-by-march-end-heres-how/