Here is why SAND is up by more than 13% in the last 24 hrs

The cryptocurrency market has actually executed favorably for the 3rd successive day this week. The cryptocurrency market is doing positively after adding 1% to its value in the last 24 hrs. The overall market cap continues to be above$900 billion as Bitcoin and the others carry out well.

Bitcoin has maintained its price over$20k after adding greater than 1%to its value. In the last seven days, BTC is up by less than 1%. Ether continues to eye the $1,200 resistance degree after going up by much less than 1%in the last 24 hrs.

Nevertheless, SAND, the native token of The Sandbox metaverse, is the very best performer amongst the leading 40 cryptocurrencies by market cap. SAND has included more than 13% to its value in the last 24 hours and presently professions above $1.2 per coin.

SAND’recurring rally can be credited to the launch of The Sandbox Bug Bounty program a few hours ago.

According to the group, the bounty program is created to obtain the community involved and reward individuals for reporting pests on The Sandbox’smart agreements already in manufacturing.

Key degrees to watch

The SAND/USD 4-hour chart is positive as The Sandbox has been executing well in recent days. The technological indicators reveal that SAND is surpassing the more comprehensive cryptocurrency market presently.

The MACD line went across into the favorable zone previously today as well as has continued to be there as SAND has been rallying.

Meanwhile, the 14-day relative stamina index of 71 shows that SAND could quickly go into the overbought region if the energy continues.

If the rally continues, SAND could surge past the $1.38 resistance level prior to the end of the day. An extended bullish efficiency can see SAND attempt to reach the $1.5 resistance factor for the very first time this month. Nevertheless, it would require the support of the broader market to make such a step.

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