In the cryptocurrency market, the price of The Sandbox (SAND) seems to be going in the upward direction for now. However, the current situation of the overall cryptocurrency market is very unpredictable, making it really difficult to point out where the crypto would move.
Given the current situation of The Sandbox, the majority of the analysts seem to be voting in favor of a high trend for The Sandbox. Still, the early December dip needs to be taken into count, which may play a negative role in The Sandbox’s future performance.
The Sandbox had reportedly started its month of December at a high note, where it was exhibiting a unit price of $6.79 per SAND. Unfortunately, as the cryptocurrency stepped into the month of December, its price started taking a fall.
On December 1 alone, the price of SAND ended up taking a dip that was over 3% and ended the December 1 trading at $6.58 per SAND. No recovery was observed for SAND in the upcoming days and by December 4 (midday), the price of SAND ended up falling down to $4.19 per SAND.
The graph showed that on December 4, 2021, the price of SAND had experienced an over a 38% plunge in its price. It is now a relief for the entire SAND community that the price of SAND is at $5.15. This goes to show that from December 4, 2021, until now, SAND’s price has recovered by 22.9%.
From the time of the launch, SAND has proven to be one of the most promising play-to-earn tokens. Its popularity has been constantly growing and it has been reaching new heights. Ever since the launch, the price of SAND has surged by 13,799.60%.
In the past 90-days, its price has surged by 589.21%, 597.26% in the past 60-days, 20.14% in the past 30-days, 2.97% in the past 7-days, and 5.63% in the past 24-hours.
According to the performance graph for SAND, its price is currently in the upward direction. For now, the trendline for SAND is in the bullish zone. This means that the bulls are currently in control of keeping up with the upward trend.
The data shows that the bulls may try to push the price of SAND over the past 30-day SMA, which is $5.63 per SAND. If the bears show no resistance and it manage to cross the 30-day SMA, the bulls may increase their buying power to bring it over the $6.83 per SAND price. If the bulls manage to cross the particular figure, they will be able to aim for the $7.00 figure.
On the other hand, the bears may attempt to bring the price of SAND below $4.50, in case they manage to increase the selling power. If there is no resistance, then the bears may attempt to bring it below the past 60-day SMA ($3.80). If they successfully pull the price of SAND below the $3.80 mark, they may intensify sales to bring it close to the past 100-day SMA ($2.58).