The price of cosmos (ATOM) continued to decline on Thursday, while sandbox rallied following its partnership with Warner Music Group. Overall, crypto prices were trading 3% lower in today’s session, after yesterday’s FOMC announcement.
The token sandbox (SAND) was one of Thursday’s biggest gainers, climbing by as much as 8 %, as prices rose following news of a partnership with WMG.
It was announced that the partnership was made with the hopes of creating a concert venue/theme park within the metaverse.
SAND/USD hit an intraday high of $3.54 on the news, which is its highest level in five days, and comes after a rally from support of $2.99.
Today’s move has helped to propel SAND into the crypto top 40, replacing helium (HNT) in the process.
Looking at the chart, prices have somewhat tailed off from today’s earlier highs, and now sit below a short-term ceiling of $3.57.
Many now wait to see the impact this partnership will have on the future of the metaverse.
Cosmos (ATOM) was down for a second consecutive session, falling to an intraday low of $30.14 in the process. This decline pushed cosmos below DAI, resulting in it becoming #20 in cryptocurrency market cap.
The move saw ATOM/USD extend its recent selloff, which began at the resistance level of $36.30 earlier in the week.
Over the weekend, ATOM attempted to break above this ceiling, however, market strength faded, once the RSI level of 50 impeded any further gains.
This level has acted as a point of uncertainty in the past, and coincided with a cross of moving averages which shifted momentum.
Looking at the chart below, the recent decline seems to have started just as the 10-day (red), and 25-day (blue) moving averages crossed downwards.
As a result, prices are now nearing support of $29.20 and were trading over 10% lower as of writing.
Will bears continue to push ATOM/USD lower in tomorrow’s session? Let us know your thoughts in the comments.
Check live crypto rates here
Start trading today – See our list of exchanges
After research a few of the blog posts in your web site now, and I truly like your manner of blogging. I bookmarked it to my bookmark website checklist and shall be checking again soon. Pls try my web site as well and let me know what you think.
Very interesting information!Perfect just what I was searching for! “I have a hundred times wished that one could resign life as an officer resigns a commission.” by Robert Burns.
It’s actually a cool and useful piece of info. I’m satisfied that you just shared this useful information with us. Please keep us informed like this. Thanks for sharing.
You have remarked very interesting details ! ps decent site.
Very interesting information!Perfect just what I was searching for! “Charity is injurious unless it helps the recipient to become independent of it.” by John Davidson Rockefeller, Sr..
I haven’t checked in here for some time because I thought it was getting boring, but the last several posts are great quality so I guess I will add you back to my daily bloglist. You deserve it my friend 🙂
Great wordpress blog here.. It’s hard to find quality writing like yours these days. I really appreciate people like you! take care
As soon as I noticed this internet site I went on reddit to share some of the love with them.
I have been reading out many of your stories and it’s pretty clever stuff. I will definitely bookmark your blog.
Well I really liked studying it. This post procured by you is very constructive for good planning.