The cryptocurrency market is experiencing a surge as Bitcoin hits a milestone price of $100,000 today. This has led to an all-time high (ATH) in the altcoin market, with gaming tokens seeing significant gains. Among these, the SAND token has emerged as the top daily gainer, reclaiming the $1 mark and hitting a new 22-month high.
The SAND price has seen a remarkable increase, with a monthly surge of over 300%. In the last 24 hours alone, it added 12.67% to its portfolio, with a trading volume of $3.977 billion. This represents a change of +120.34% and a 55.35% increase in the past seven days.
Technical indicators show a positive trend for the SAND token. The EMA 50/200-day indicator has formed a Golden Cross in the 1D time frame, hinting at a potential price target of $1.50. The Relative Strength Index (RSI) has retested its overbought range and is showing a sharp rise, indicating strong buying pressure for the altcoin.
Short-term bullish price targets for the SAND token are $1.07 and $1.25 respectively. Maintaining the price above the support level of $0.90 could pave the way for a retest of the resistance level at $1.07. If bulls gain momentum at that point, the price could push towards $1.25.
However, a bearish reversal could see the price retesting the support level of $0.90. Failure to hold momentum at that point could result in a drop towards the lower support level of $0.720 this month.
As the SAND price continues to climb and reclaim the $1 mark, investors are wondering how high this altcoin will go. Will it reach its 29-month high of $1.50 this month? Stay updated with CoinPedia’s Sandbox (SAND) Price Analysis for the latest insights and predictions in the crypto market.