defied the trend as it surged 14.14%, hitting its thirty-day high. The metaverse token had followed the market sentiment earlier, registering greens for most of the recently-ended week.
However, the latest 24-hour rally was way better than whatever surge SAND recorded in the last seven-days. With The Sandbox obviously not slowing down its momentum, investors expectations in the short-term might align with the token’s persistence.A number of factors might have played a role in SAND’s rise to $0.908. However, an undeniable part would be The Sandbox having a notable fashion giant key into its metaverse plans.
for SAND were in a positive state. This implied that futures traders were interested in taking advantage of the price swings to make profits.Despite the uptick recorded, it seemed that liquidations were almost at par with both shorts and longs. According to, about $1.4 million worth of SAND had been liquidated in the last 24 hours. However, the difference between both these opposite ends wasn’t much surprisingly.
At press time, shorts were liquidated at a little over $698,000. For long-position traders, it was $477,050. With this data, it might be mandatory for investors looking to profit more to watch their steps.On the four-hour chart, SAND was showing extreme signs of volatility. Based on indications from the Bollinger Bands , the highly volatile state exploded beyond its moderate state in the early hours of 30 October.
While this contributed to the price hike, it could also lead SAND down the charts. In addition, the Moving Average Convergence revealed that the sellers were close to catching up with the buyers. In the case of meeting up or overtaking, SAND might halt its rally.Subscribe to get it daily in your inbox.