- Bullish SAND price prediction ranges from $0.49 to $0.55
- SAND price might also reach $0.92 soon.
- SAND bearish market price prediction for 2021 is $0.32.
In Sandbox (SAND) price prediction 2021, we use statistics, price patterns, RSI, and much other information about SAND to analyze the future movement of the cryptocurrency.
In 2011, the Sandbox was launched by Pixowl. However, the Sandbox is a blockchain-related virtual world enabling users to develop, build, buy, and sell digital assets in the form of a game. Moreover, by joining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox develops a decentralized place for a thriving gaming community.
As per the official whitepaper, the Sandbox platform’s main mission is to introduce blockchain technology successfully in mainstream gaming. However, the platform focuses on facilitating a creative play-to-earn model, which enables users to be both creators and gamers simultaneously. Even more, the Sandbox employs the powers of blockchain technology by offering the SAND utility token, which facilitates transactions on the platform.
According to CoinMarketCap, the Sandbox (SAND) price is trading at $0.48 with a 24-hour trading volume of $374,918,048, at the time of writing. However, SAND has decreased by 3.68% in the last 24 hours.
Moreover, SAND has a circulating supply of 702,992,326.22 SAND. Currently, SAND trades in cryptocurrency exchanges such as Binance, OKEx, CoinTiger, Huobi Global, and FTX.
Sandbox (SAND) Price Prediction 2021
Sandbox (SAND) holds the 116th position on CoinMarketCap right now. SAND price prediction 2021 explained below with a daily time frame.
A descending broadening wedge is a bullish pattern. Moreover, it is developed by two diverging bullish lines. More so, a descending broadening wedge is confirmed/valid if it has good oscillation between the two upward lines. However, the upper line is the resistance line; the lower line is the support line.
In the daily time frame chart, it is possible for the SAND to reach $0.92 if the bull trend continues. Orelse, if the price of the SAND breaks the resistance level of $0.55, it will fall to the next support level at $0.32. So, the trend of the SAND is based on the breakout.
Sandbox (SAND) Support and Resistance Level
The below chart shows the support and resistance level of SAND.
From the above daily time frames, it is clear the following are the resistance and support level of SAND.
- Resistance Level 1 – $0.54
- Resistance Level 2 – $0.9
- Support Level 1 – $0.34
- Support Level 2 – $0.15
The charts show that SAND has performed a bullish trend over the past month. If this trend continues, SAND might run along with the bulls overtaking its resistance level at $0.54.
Conversely, if the investors turn against the crypto, the price of SAND might plummet to almost $0.34, a bearish signal.
Sandbox (SAND) Average Directional Index (ADX)
Now let’s look at the average directional index (ADX) of SAND. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can be used to determine whether the market is changing or a new trend is starting. It is associated with the Directional Movement Index (DMI) and basically includes the ADX line.
The range of the oscillator is from 0 to 100. A high value indicates a strong trend, and a low value indicates a weak trend. It is often combined with directional indicators.
The above chart shows the ADX of SAND stays above the range of 30, so it indicates a sideways trend.
The SAND is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term SAND price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $0.93 this year. However, this will only happen if it breaks many past psychological resistances.
Furthermore, with the ongoing developments and upgrades within the SAND ecosystem, it could experience a great future ahead in 2021. It may reach $0.54 soon and it might even reach high heights, however reaching $1, if investors have planned that SAND is a good investment in 2021.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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