The cryptocurrency market has continued its positive start to the week as major coins trade in the green.
Cryptocurrencies have enjoyed solid gains over the past 48 hours. During the last 24 hours the market added more than 3% in value, pushing total market capitalization back above the $900 billion mark.
Bitcoin has broken above the $21,000 resistance, rising roughly 2.5% in recent hours. Ether is also advancing and is targeting the $1,200 psychological level amid its current rally.
Among the top 50 coins by market cap, SAND—the native token of The Sandbox metaverse—has been one of the standout performers.
SAND climbed more than 10% over the past day and is currently trading around $0.935 per coin. The main driver behind this move is The Sandbox’s announcement of a partnership with TIMEPieces, the NFT community initiative from TIME.
In a Medium post on Monday, The Sandbox confirmed it will collaborate with TIME to build “TIME Square,” TIME’s first dedicated destination in the metaverse.
Key levels to watch
The SAND/USD 4-hour chart currently shows bullish characteristics after the recent upside momentum.
The MACD has moved into a neutral zone, improving from the negative territory it occupied last week. The 14-day RSI sits near 64, indicating that SAND has room to extend gains before reaching overbought conditions.
If buying pressure continues, SAND could break above the $1 psychological level in the coming hours. In a stronger extension of the rally, the token may test resistance around $1.08 later in the day.
That said, the broader market remains in a bear phase and downside risks persist. Should sellers reassert control, SAND could retrace toward the $0.83 support level over the next several hours.