The Sandbox retraces by 1% in the period February 17 - February 23 as the market turns slightly bearish.
The analysis of last week’s price action shows that the The Sandbox market is in the phase since the price has been moving downward. The volatility of SAND has been medium throughout the reviewed period in correspondence with the price action. The price action of the coin has been accompanied by the increased market capitalization of the said digital asset. The price action of the crypto coin from last week stemmed from the increasing trading volume.
While the volatility remains restrained, The Sandbox isn't making any explosive moves. During the reviewed period, the volatility of SAND was in the middle register, averaging at 7%. The coin has hit the highest point of volatility on February 17. The asset has been the least volatile on February 21; at this time, the volatility stood at 0.47%. The mild volatility registered on the crypto coin's market over the said period allows us to expect moderate price movements in both directions without significant breakouts.
The losses of SAND after the weekly open on February 17 amounted to 3%. On February 18 the coin market stayed neutral, with no changes in the price. The bulls dominated the price action during the following trading period as the price drifted 3% to the upside, having established the low for the reviewed time frame at $0.76, while the high was recorded at $0.82. The next trading session was characterized by more price action (as SAND made a 9% move) on the back of the consistent trading volume. February 21 kicked off with The Sandbox trading opening at $0.84 and then closing the session at $0.79, establishing the 24H low at $0.78 and 24H high at $0.84 in the process. The price action on February 22 saw the crypto coin moving along the following route: starting point at $0.79 and closing point at $0.75, while it also deviated to establish the high of the day at $0.79 and the low of the day at $0.74. The coin's market saw no changes on February 23, as the market flatlined. The asset posted the weekly low at $0.72, while the top of the weekly trading session was registered at $0.87. The Sandbox shaped the $0.004 price range over the week of price action, which constituted the 1% gap between the weekly low and the weekly high.
As for the average trading volume in the time slot between February 17 and February 23, the The Sandbox market registered the change from $476 633 874 to $309 653 472. Over the week that came before the analyzed time span, the average trading volume of SAND ranged between $148 095 139 and $344 511 175. The 59% trading volume fluctuation between February 17 and February 23, as compared with the previous period, served as a basis for a 1% price move.
The total market capitalization of The Sandbox during the past 7-day oscillated between $1 277 206 393, the starting point that was established on February 17, and $1 356 167 863 on February 23, the end date of the reviewed period. When translated to percentage rate, the market capitalization of SAND over the past week adjusted by 6%. The 6% change in the coin's market capitalization affected the price rate that saw a 1% shift in the same time period. During the week before the analyzed time frame, the market capitalization of The Sandbox moved by 5% as it went from $1 282 819 880 to $1 346 195 695, and gave a better understanding of the general direction in which this market is flowing.