Blockchain analytics firm Santiment The Sandbox (SAND) whale recently swiped a large amount of tokens tweeted. According to the tweet, the whale emptied all 409 million SANDs worth about $250 million and moved to a new address today.
Santiment confirmed that this is the most SAND moved since the asset’s first week in August 2020. In addition, $261 million in assets moved today was the highest amount moved in 7 months.
According to CoinMarketCap SAND price It has increased by 3.65% in the last 24 hours. SAND also managed to strengthen by 0.96% against Bitcoin (BTC). The altcoin failed to do the same with its altcoin leader Ethereum (ETH), weakening by 0.64% against ETH over the same period. As a result, the price of SAND is currently trading at $0.6262.
The Sandbox The price is trying to break above the 9-day and 20-day EMA lines at press time. If this happens, the price is likely to make a move towards the next key resistance level near $0.6914.
A bullish flag is on the verge of being triggered as the daily RSI line is about to break above the RSI SMA line. If this happens, the price of SAND may have the necessary support to break above the 9 and 20 EMA lines.
Investors will want to keep an eye on the 9 and 20 EMAs in the next 24 hours. If the shorter EMA rises above the longer EMA, the price of SAND will enter a short-term bullish cycle and target $0.7550.
You can follow the current price action here.