The cryptocurrency market continues to strengthen as of Thursday, March 7, 2024. Analyst Ali Martinez also said that while this momentum continues, he is talking about metaverse altcoin projects. The Sandbox drew attention to the graph.
According to Martinez, the crypto industry still has untapped potential. In his post on X, the popular user noted that SAND has not yet broken above the 78.6 Fibonacci level that could change things.
“When people say it’s too late to get into the crypto market… They claim a top is coming! Nonsense, SAND hasn’t even broken above 78.6 Fib yet. This is the biggest metaverse altcoin in the industry!”
The 78.6 level is particularly important because it represents a deep pullback, Sandbox has experienced a significant pullback from its high and is trying to recover. The 78.6% level emphasized by Martinez is metaverse altcoinIt acts as a barrier that must be overcome to show that it has regained its previous upward momentum.
This potential is driven primarily by the growing interest in the native token of the Metaverse platform. It comes on the heels of new partnerships with Gucci and other luxury brands. Gucci’s acquisition of digital real estate is a positive market signal that underlines Sandbox’s intrinsic value and validation of its role in the metaverse. As interest in virtual worlds and blockchain-powered games increases, this move could herald further growth in value.
The Sandbox Price Analysis
This growth momentum is not an isolated event, as the Metaverse altcoin has been on an upward trend over the last 7 days and the past month, with a value increase of 18.40% and 60.79% respectively.
The data last obtained on March 7, 2024 seems to be compatible with Ali’s assumptions. At the time of publication, Sanbox price was trading at $0.691. Just for comparison, this represents an increase of 2.92% in the last 24 hours.
