The cryptocurrency market has continued its positive start to the week as the major coins are trading in the green zone.
The cryptocurrency market has been performing well over the past two days. In the past 24 hours, the market has increased its value by more than 3%, taking the total market capitalization above the $900 billion mark.
Bitcoin surpassed the $21k resistance level after increasing its value by 2.5% over the past few hours. Ether is eyeing the psychological level of $1,200 thanks to its ongoing rally.
However, the native token of the sandbox metaverse, SAND, is one of the best performers among the top 50 cryptocurrencies by market cap.
SAND is up over 10% in the last 24 hours and is currently trading at $0.935 per coin. The primary catalyst behind this positive move is Sandbox’s partnership with TIMEPieces, an NFT community initiative from TIME.
one in middle rank On Monday, The Sandbox said it has partnered with Time to develop “Time Square,” Time’s first destination in the metaverse.
prime level to watch
The SAND/USD 4-hours chart is currently bullish as SAND has been performing well in recent days.
The MACD line is within the neutral zone, which is a correction from the negative zone it occupied last week. The 14-day RSI of 64 indicates that SAND may soon enter oversold territory in the coming hours or days.
If the market momentum is maintained, SAND may cross the psychological level of $1 in the next few hours. In the event of an extended rally, SAND may test the $1.08 resistance level before the end of the day.
However, we are still in a bear market, and the bears are likely to regain control. If it happens, SAND could drop towards the $0.83 support level in the next few hours.
