bitcoinBTC/USD
$ 20,384.00
ethereumETH/USD
$ 1,148.31
tetherUSDT/USD
$ 0.999362
cardanoADA/USD
$ 0.458734
xrpXRP/USD
$ 0.326662
usd-coinUSDC/USD
$ 1.00

The Sandbox Price Prediction February 2022: Will SAND Reach $10 in February?

The Sandbox Price Prediction February 2022: Will SAND Reach $10 in February?

SAND Technical Analysis – February 2022

The Sandbox (SAND) reached its all-time high in November of 2021 at a price of $8.44. After that, the price was followed by multiple bearish surges, where the price declined by around 50%. After that, the price increased by almost 60%, but it stopped at $6.96 due to the high selling pressure.

SAND continued on this downtrend, where the price declined by an additional 63% in the following weeks, but it found support at $2.56. Since then, the price has been attempting to rebound. The price is recovering, where the new high is higher than the previous high and the new low is higher than the previous low.

In the 4-hour chart, a triangle pattern could be seen forming with the trendline of the last couple of months. We may see a breakout in the coming days as this channel gets narrower. The fear and greed indicators suggest that the extreme fear of the last few weeks is diminishing and is slowly converting into greed, suggesting an increase in the buying pressure for SAND. 

The Sandbox Monthly price analysis
SAND/USDT 4-Hour Chart.

Key Structures

Support

  • $4.15

Resistance

  • $4.75

Indicators

Moving Average

Both the 50-MA and the 20-MA of a 4-hour chart are currently below the price of SAND, suggesting that the trend is now upward and that the price of SAND could keep increasing in the coming weeks, other things equal.

The 9-EMA of a 4-hour chart is also currently below the price of SAND, suggesting that SAND is bullish in the short run. The EMA line is also acting as support to the price of SAND.

Relative Strength Index

The RSI of a 4-hour chart recently hit above 70, indicating that SAND is overbought. This may most likely lead to a retracement of the price, which has already started. The RSI also indicates that SAND is quite bullish in the coming days.

The Sandbox Relative Strength Index
SAND/USDT 4-Hour Chart RSI.

MACD

The MACD line of a 4-hour chart is currently above the signal line and way above the baseline. This suggests that the momentum is bullish in the short run. However, the lines are converging and may intersect in the coming hours if the price keeps retracing as anticipated. Because of this, we could see a momentum shift in the short run.

The Sandbox MACD.
SAND/USDT 4-Hour Chart

Fibonacci

The Fibonacci retracement levels of a 4-hour chart suggest that the price of SAND could retrace to the 50% level, despite it not being a widely recognized Fibonacci level. Nonetheless, the 50% level has proved to work in most cases. If that would be the case and SAND would find support at 50%, then the price could eventually have another bullish breakout upward in the coming days.

The Sandbox Fibonacci Levels
SAND/USDT 4-Hour Chart Fibonacci Levels.

Price Prediction SAND  – February 2022

Based on this technical analysis on The Sandbox (SAND), the price of SAND could initially retrace in the short run and then may continue its journey upward. Our indicators as well as the current momentum suggest that the price of SAND could keep increasing. However, SAND is facing strong resistance at $4.75. If this structure is broken, then we may see SAND go beyond $5 in the coming days. The price of BTC would also play a factor in the price of SAND. If BTC stays above $40,000 and eventually breaks beyond $44,000, then we could see SAND soar upward as well.

Latest News for SAND  – Affecting Price

A big factor in the recent price movement of The Sandbox could be the recent partnership with UniX, one of the world’s biggest gaming guilds.

The latter is attempting to become the biggest gaming community within The Sandbox ecosystem. This created huge hype and increased the demand for SAND tokens, hence the price increased at this rate. 

Besides, The Sandbox also partnered with Warner Music Group (WMG), one of the world’s biggest music record labels, which is based in New York City. WMG features some of the world’s most immense talents, including Burna Boy, Ed Sheeran, Dua Lipa, etc. This partnership can definitely shape the future price of SAND into a much more bullish one. Hence, we could see SAND have bigger gains in February.

Also read:

Related News

Will KuCoin Token Reach $100 in 2022 – KuCoin Price Forecast

KuCoin is a popular cryptocurrency exchange because of its cheap fees and extensive range of features. The platform allows you to trade in futures and margin products, using a vast variety of tokens to pick from. The crypto exchange also has a native coin KuCoin Token (KCS). KuCoin’s numerous features, low costs, and wide range of cryptocurrencies make it a great choice for experienced cryptocurrency traders. But what about its

Read More »
Ethereum Price Prediction May 2022: Will ETH Reach $5,000 in May?

Ethereum Price Prediction May 2022: Will ETH Reach $5,000 in May?

ETH Technical Analysis – May 2022 Ever since hitting an all-time high in November of 2021 at around $4,800, the price of Ethereum (ETH) has been in a downtrend. Initially, the price declined by around 26%, and ETH ended the year at $3,500. That bearish momentum continued in January as well, where ETH declined by almost 45% in January alone. However, ETH managed to find support at $2,160, which then

Read More »
Bitcoin Price Prediction May 2022: Will BTC Reach $100,000 in May?

Bitcoin Price Prediction May 2022: Will BTC Reach $100,000 in May?

BTC Technical Analysis – May 2022 Ever since Bitcoin (BTC) reached its all-time high in November of 2021 at around $69,000, the price has been in a downtrend. The price initially declined by more than 30%. BTC ended the year at around $50,000.  In 2022, BTC maintained that similar approach, where the price declined by an additional 35% in the first few weeks of the year. After finding support at

Read More »

My Coins

bitcoinBitcoin
$ 20,384.001.18%
ethereumEthereum
$ 1,148.310.47%
cardanoCardano
$ 0.4587341.77%
tetherTether
$ 0.9993620.14%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org