Investment Disclaimer:
- I am not a registered investment, legal, or tax adviser or a broker/dealer, and all opinions expressed by me are from my research for educational purposes only.
- Past performance presented here is not an indicator of future performance.
- This post expresses my own opinion about the cryptocurrency mentioned herein and is not an offer to buy or sell, or a solicitation of any offer to buy or sell the cryptocurrency mentioned in this post.
1A. Top 3 Good News for SAND HODLERS
- Adidas Finds It’s First Crypto Partners With Coinbase & The Sandbox
Statistic as of 2021-12-02 06:56 AM EDT: 46 positive votes, 0 negative vote
Adidas has made a splash into crypto, establishing a partnership with Coinbase as well as with metaverse playground The Sandbox this week. The deals have a limited amount of details thus far, and immerse the powerhouse apparel brand into it’s first major foray in crypto and blockchain technology.
(Extracted from Crypto Panic) - Ethereum Metaverse Tokens Keep Climbing: MANA, SAND Hit All-Time Highs
Statistic as of 2021-12-02 06:56 AM EDT: 30 positive votes, 3 negative votes
Decentraland and The Sandbox are each up several hundred percent over the last 30 days as metaverse buzz continues.
(Extracted from Crypto Panic) - Sandbox Metaverse Alpha launched Nov. 29 after four years in development
Statistic as of 2021-12-02 06:56 AM EDT: 11 positive votes, 0 negative vote
SAND prices have surged to a new all-time high as The Sandbox announces its highly anticipated play-to-earn metaverse event.
(Extracted from Crypto Panic)
2. How Sandbox Performs Relative to Other Cryptos ?
As of 01 Dec 2021, Sandbox has made a cumulative return of 10,177.46% since Jan 2020 and 2,503.11% since Jan 2021. It is currently the 5th greatest performing crypto asset since Jan 2021 as compared to the other cryptocurrencies presented above.
3. Technical Analysis on Sandbox
3.1. Volume Weighted Average Price (VWAP)
VWAP is a technical indicator used by a trader to gauge the overall trend of an asset price movement. VWAP line (orange line) represents the volume-weighted average price (average price here is defined as the average of high, low and close prices) while close price line (blue line) represents the price when SAND is closed at the end of every single day.
Whenever blue line (close price) is above orange line (VWAP), it indicates that the asset is gaining momentum and being traded higher than its average price level. This would represent a 'buy' opportunity for short-term momentum trader whom task is to trade following the trend while a longer term mean-revision trader might take it as a 'sell' opportunity, anticipating that the price of SAND (blue line) to fall to its average level (orange line).
Whenever blue line (close price) is below orange line (VWAP), it indicates that the asset is losing momentum and being traded lower than its average price level. This would represent a 'sell' opportunity for short-term momentum trader whom task is to trade following the trend while a longer term mean-revision trader might take it as a 'buy' opportunity, anticipating that the price of SAND (blue line) to rise to its average level (orange line).
As of 01 Dec 2021, VWAP is suggesting that SAND is losing momentum after hitting its all-time-high days ago.
3.2. Moving Average Convergence Divergence (MACD)
MACD is often used by trader as a momentum indicator. There are 2 lines that form the above charts, namely MACD (12, 26) lines and Signal(9) line, while the histogram is calculated by subtracting Signal (9) from MACD (12,26). Histogram would fall to the negative territory whenever MACD (12, 26) is trending at a lower level than Signal (9) and rise to the positive territory whenever MACD (12,26) is trending at a higher level than Signal (9).
MACD (12, 26) is computed by subtracting the 26-day exponential moving average (EMA) of SAND closing price from its 12-day EMA.
Signal (9) on the other hand is calculated as the 9-day EMA of MACD (12,26).
As MACD (12, 26) goes higher away from Signal (9), it signifies that SAND is gaining momentum and whenever it goes trends at a lower level than Signal (9),it signifies that SAND is losing momentum.
As of 01 Dec 2021, MACD is suggesting that SAND is losing momentum after hitting its all-time-high days ago.
3.3. Bollinger Band
Bollinger band is often being used by mean-reversion trader as a gauge to assess how undervalued or overvalued an asset is. Its chart made up of 4 lines, namely:
- SMA (20) (blue line), which is the 20-day simple moving average price of SAND
- Upper Band (orange line), which is computed by adding 2 standard deviations of SAND on SMA (20)
- Lower Band (red line) , which is computed by subtracting 2 standard deviations of SAND from SMA (20)
- Close (green line), which is the daily closing price of SAND
Whenever close line (green) touches the lower band (red), it indicates that SAND is corrected too much and is being traded at an undervalued level, representing a 'buy' opportunity. On the other hand, whenever close line (green) touches the upper band (orange), it indicates that SAND is gaining too much momentum and is being traded at an overvalued level, thus indicating a 'sell' opportunity.
As of 01 Dec 2021, Bollinger Band is suggesting that SAND is neither oversold nor overbought.
3.4. Relative Strength Index (RSI)
Just like Bollinger Band, Relative Strength Index is often being used by mean-reversion trader as a gauge to assess how undervalued or overvalued an asset is. There are 2 psychological levels, i.e. 30 and 70 in RSI. Whenever the RSI reaches 30, it indicates that SAND is corrected too much and is being traded at an undervalued level, representing a 'buy' opportunity. On the other hand, whenever RSI reaches 70, it indicates that SAND is gaining too much momentum and is being traded at an overvalued level, thus indicating a 'sell' opportunity.
As of 01 Dec 2021, RSI is suggesting that SAND is trading at an overbought position.
Based on the technical analysis presented above, quantdoge is having a neutral stance on the short-term price outlook of SAND, but I could be wrong, hence please make your careful due diligence before making any financial decision.
4. Sandbox Risk Profile
Based on the 100-day 95% historical Value-at-Risk (VaR) profile of Sandbox defined above, SAND seems to trade at a higher risk level on 01 Dec 2021 as compared to 10 days before on 21 Nov 2021, with its biggest pullback being seen at -24.63% on a single day during the last 100 days. However, I could be wrong, hence please make your careful due diligence before making any financial decision.
5. Price Simulation for Sandbox
How did quantdoge simulation perform vs the actual SAND price movement over the last week ?
Over the last 7 days, SAND has been trading near the lower 25th percentile of quantdoge simulations, indicating that SAND was oversold.
6. Google Trends Analytics
the sandbox reached its peak in Google Search on 2021-11-28 with a Google Score of 100
Over the last quarter, the sandbox Google Score has increased 331.15 % from 15.25 to 65.75
Over the last 6 months, the sandbox Google Score has increased 497.73 % from 11.0 to 65.75
Based on Google searches, the sandbox is most sought after in Luxembourg, followed by Hong Kong & Netherlands this month.
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