SAND price analysis for Feb 15, 2022, can be confirmed on a bullish note as the token surged 5% in the last 24 hours. Meanwhile, The Sandbox price analysis for Feb 14, 2022, showed that the token dropped below the important level of $4, which confirmed the bearishness of the prices.
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The data from CoinMarketCap shows that the trading volume of the token surged 22.23% while the market cap surged 7.29%. It is also to be noted that the Market Dominance rests at 0.23%, while the Volume / Market Cap Ratio currently stands at 0.2071. The all-time high of the token rests at $8.44, which was witnessed on Nov 25, 2021.
The Sandbox token opened the daily chart at a price of $4.019 and reached a daily high of $4.18. Moreover, the daily low for the token rests at $3.9. At the time of writing, the price of 1 SAND is $4.1, which is 50.91% low from its all-time high.
SAND price analysis on the daily chart
SAND price analysis on the daily chart shows that the bulls are retesting the middle zone of the Bollinger Bands, which means that the next aim would be to break out from the upper end of the Bands.
The RSI indicator shows that the gradient of the line is positive, which means that higher prices are possible in the short term. The RSI currently reads 49.22.
The MACD indicator shows that the MACD line (blue) is now touching the signal line (orange), which means that there is a chance that bears might take over the price action. It is important that the $4 price level remains as support.
Conclusion
Our SAND price analysis on the daily chart can be concluded on a bullish note for Feb 15, 2022. However, the indicators show that there is a high probability of bears taking over if The Sandbox falls below the $4 price level. Overall, TheCoinRise is bullish for the metaverse token.
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