The Sandbox (SAND) Price Primed to Hit $1 After Momental Surge— Decentraland (MANA) Price to Follow the Suit

The post The Sandbox (SAND) Price Primed to Hit $1 After Momental Surge— Decentraland (MANA) Price to Follow the Suit appeared first on Coinpedia Fintech News

For quite a long time, NFT space remained under shadows as the newly created space has dominated the crypto markets. Moreover, the rising interest of the market participants in memecoins had prevented the other segments of the crypto space to thrive. However, a strong bull run appears to have begun, which may shake up every segment of the markets, including NFTs, as the SAND price takes a huge lead in the top gainers.

The SAND price printed a huge god candle over the weekend, which brought the token back within the bullish range. The platform’s volume surged monstrously by over 400%, rising from less than $200 million to as high as over $5.5 billion, suggesting a major shift in the traders’ sentiments. With this, the SAND price is hitting the weekly resistance, which may cause a possible leg down, and hence, more vigilance is required at this range. 

The weekly chart of the SAND price suggests the token is testing the pivotal resistance zone between $0.8198 and $0.8993. The token has constantly failed to rise above the zone in the past two years, making it a very important level to clear. The rise in the buying pressure may help the price to continue to move higher. Besides, the RSI has entered the overbought zone, and until it sustains within the zone, the bullish possibility could loom. 

Therefore, the Sandbox price could face a small pullback as an outcome of a breakout from the falling wedge. After a small retest, a rise above the zone could be imminent, and a rise above the 200-day MA at $1.02 may validate a strong ascending swing towards higher targets. 

Historically, SAND & MANA prices are seen following each other very closely. The MANA price is also testing one of the crucial resistance zones that it has been failing to achieve in the past couple of years. However, being a little different from SAND, the technicals suggest the price could lose more than 30% if the bulls fail to hold the crucial support levels. 

The MANA price has reached the pivotal zone, which appears to have been dominated by the bears as they tend to push the prices lower after every contact. The RSI has reached the overbought zone and displays the possibility of a bearish divergence, while the Ichimoku cloud suggests the end of the bearish trend. Therefore, the Decentraland price is expected to remain stuck in the range for a while, and as the market sentiments pile up, the token could breach the resistance, reclaiming $1.