<b><i>The SAND coin price rises within the falling wedge pattern, increasing the chances of a bullish breakout to reach the $5 mark.</i></b>

<span style="font-weight: 400">Animoca Brands' metaverse subsidiary, The Sandbox, is a virtual world that allows users to build, create, purchase, and sell virtual assets as part of games. It has agreed to donate a $50+ million fund, dubbed the Sandbox Metaverse Accelerator Program. </span>

<span style="font-weight: 400">It plans for venture capitalist business Brinc to form part of the program to fund and help mentor companies that want to expand outside of the platforms Open Metaverse.</span>

<span style="font-weight: 400">Let us move ahead to read about SandBox's technical analysis.</span>
<h2><b>Past Performance of SAND</b></h2>
<span style="font-weight: 400">The SAND coin price rose up to 15% in the past 24 hours resulting in a bullish engulfing candlestick near the $3.15 mark. The previous lower price rejection candles forecasted the price jump. The sudden bullish burst continues to make a follow-through candle in the daily chart. Therefore, bullish expectations for the next 24 hours are significantly high.</span>

<img src="https://s3.tradingview.com/snapshots/l/LQsDvkZs.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/LQsDvkZs/"><span style="font-weight: 400">SAND/USD Daily Chart</span></a>
<h2><b>SAND Technical Analysis</b></h2>
<span style="font-weight: 400">The SAND coin price action forms a falling wedge pattern in the daily chart, with the price rising higher from the support trendline. Therefore, bullish entry at current prices can target the resistance trendline.</span>

<span style="font-weight: 400">The crucial </span><b>Exponential Moving Averages</b><span style="font-weight: 400"> keep a bullish formation with the 200-day EMA providing dynamic support. However, the falling 50 and 100-day EMA showcase a high possibility of a bearish crossover.</span>

<span style="font-weight: 400">The </span><b>Stochastic RSI Indicator</b><span style="font-weight: 400"> shows the rising K and D lines exit the oversold zone and rise higher. Therefore, once the lines rise above the central line, the possibility of a bullish breakout will increase.</span>

<span style="font-weight: 400">The </span><b>RSI Indicator </b><span style="font-weight: 400">at 37% shows a slope escaping the oversold zone and rising higher towards the central line. Moreover, the slope rises above the 14-day SMA reflecting a bullish revolt.</span>

<span style="font-weight: 400">In conclusion, the technical indicators reflect a rise in underlying bullishness with the increasing chances of a bullish breakout. </span>
<h2><b>Upcoming Trend</b></h2>
<span style="font-weight: 400">The SAND coin price resonates within a falling channel in the daily chart as the price reverses from the support trendline. Moreover, the Metaverse Accelerator Program reduces the fear in investors during the bearish market. </span>

<span style="font-weight: 400">Buyers, at the current price, can target the resistance trendline or the $4 mark. However, the pattern breakout will lead the prices to $4.75. In an otherwise situation, a reversal from the trendline will reach $3.</span>

At press time, a 4-hour technical analysis by TradingView gives a "BUY" signal for the SAND token.
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<div class="tradingview-widget-copyright"><a href="https://in.tradingview.com/symbols/SANDUSD/technicals/" target="_blank" rel="noopener"><span class="blue-text">Technical Analysis for SANDUSD</span></a></div>
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SAND Technical Analysis: Reversal from 200-Day EMA Gains Attention

The SAND coin price rises within the falling wedge pattern, increasing the chances of a bullish breakout to reach the $5 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

SAND Technical Analysis: Reversal from 200-Day EMA Gains Attention

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