Bitcoin & Ethereum Struggle, While The Sandbox(SAND) Hits ATH

Yet another passive day in the crypto space as most of the assets are facing notable drains. Bitcoin price is following a descending resistance line, whereas Ethereum price is struggling to sustain above $4000. Amid the bearish trend, the NFT’s drawing notable profits. Popular tokens like Axie Infinity, Decentraland, Enjin Coin, etc are surging with notable gains. And the Sandbox (SAND) price remained in the spotlight by smashing the new ATH. 

SAND prices in recent times managed to find higher support levels and discover new resistance levels. Moreover, the Metaverse is expected to be launched on November 29 that may propel the price to new levels. In the due course, Decentraland (MANA) price which is becoming less active may be outperformed. According to a popular analyst, the SAND price could end the year’s trade somewhere above $7. 

sandchart

The analyst in the above chart summarized the current rally and the breakpoints of the asset. Initially, the SAND price found its resistance at $1.5 which is flipped into support and later it elevated to $3. The rally moved towards the north and found new support at $4.66 that it broke and headed toward the next resistance above $7. The analyst hopes these levels could hit by the first week of December. 

Collectively, the SAND price appears due to a notable jump that may reduce the gap between the current price and the 2-digit figure target. Moreover, the Sandbox Metaverse Alpha which is set to launch after 4 years of development could boost up the price. 

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.