Following the news that the Metaverse platform is integrating with Coinbase Wallet and enabling Polygon LAND distribution sandbox (SAND) price increased by 20%. The price is around $1.15, with effects such as increased transaction volume and increased number of wallets being very positive.
Sandbox (SAND) Price Rising
Sandbox price has risen nearly 20% in the last 24 hours, reaching highs and lows of $1.17 and $0.95, respectively. SAND has increased by an average of 6% over the past seven days, indicating increased interest among investors. The next critical resistance is at $1.30, if the price stays above $1.30, the uptrend could increase.
However, if it fails to break above the critical resistance level, Sandbox price could move higher in the $1.13-1.20 range next week.
Koinfinans.com As we have reported, at the time of writing the news; SAND was trading above the 50-day EMA, which is moving up in an ascending channel. Also, the 12-day EMA was crossing the 50-day EMA, which indicates a bullish crossover. Transaction volume has increased tremendously by over 70% in the last 24 hours. The RSI is now higher from near the oversold zone, towards the 52 levels. This level is very close to the level (50), which is considered “neutral”.
The upside reversed the $1.11 resistance, showing buyers attempting another push. If SAND buyers close above the $1.11 level, the bullish momentum could push the Sandbox 33% higher towards $1.52.
Factors Affecting Price Rally
Sandbox project, in the last 7 days OpenSeaIt was the most traded Polygon NFT collection in . This week, The Sandbox reported two big announcements, integration with Coinbase Wallet and LAND distribution on Polygon.
The custom Polygon bridge was developed to allow users to migrate SAND and LAND from Ethereum to Polygon. LAND and SAND offer faster transaction speed, lower gas fees, and greener interactions on the blockchain, while the supply, value, and utility remain the same. Users will also be able to transfer ASSET and EXPERIENCE tokens to their smart contracts on the Polygon network.
Sandbox has also integrated the Coinbase Wallet into the Sandbox ecosystem. The firm believes that Coinbase Wallet support will bring more users to The Sandbox metaverse and gaming platform.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.