Market analysis March 10 - March 16 : The Sandbox posts a 12% rally.
The analysis of last week’s price action shows that the The Sandbox market is in the phase since the price has been moving upward. The volatility of SAND has been medium throughout the reviewed period in correspondence with the price action. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. The price action of the crypto coin from last week stemmed from the increasing trading volume.
The Sandbox has been moving reservedly on the backdrop of average volatility. The market analysis reveals that the mild average volatility of 10% restrained SAND 's price swings. The most significant volatility occurred on March 10 and reached 12.57%. The asset's volatility was at its lowest on March 14 when it dropped to 1.3%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 10%.
While the overall situation on the The Sandbox market was neutral, the trading session on March 10 kicked off at the $0.56 price level. On March 10, the first trading session of the reviewed time period, the market participants saw SAND moving down by 4%. March 11 saw the coin going another 2% since the open, supported by the corresponding trading volume. During the next trading day, the rate of change in the price of The Sandbox stood at 5% having reached the low at $0.52 and the high at $0.55 as the advantage remained on the side of buyers. The SAND market was up as the price shifted by 14% on March 13, against the backdrop of the sufficient trading volume. The price range of The Sandbox on March 14 formed between $0.62 and $0.65, whereas the daily price extremities were $0.61 and $0.66. The trading period on March 15 saw the crypto coin forming the price amplitude between the open at $0.65 and the close at $0.59, also interacting with $0.58 (24H low) and $0.58 (24H high). Most trading activity on March 16 occurred in the space between $0.58 and $0.59; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.58, though the bulls had also staged the rally to the 24H high at $0.6. Over the course of all trading sessions, the asset established the weekly low at $0.51 while buyers managed to push the price up to the weekly high at $0.66. As a result of price action within the designated time period, the price movement range on the The Sandbox market was established at $0.06 or 12% between the weekly low and the weekly high.
In the period March 10 - March 16, the trading volume of The Sandbox went from $174 099 766 on the first day of the reviewed period to $241 087 773 on the closing day. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the SAND market had its volume ranging between $87 942 499 and $256 905 779. The 31% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 12%.
The total capitalization of Bitcoin at the start of the analyzed time period (March 10) amounted to $966 301 065; by the end of that period (March 16), the capitalization went to $1 069 792 954. When translated to percentage rate, the market capitalization of SAND over the past week adjusted by 11%. The 11% change in the coin's market capitalization affected the price rate that saw a 12% shift in the same time period. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $1 245 279 730 on March 3 and $1 030 085 060 on March 9, which translates to a 17% change.