The price of cosmos (ATOM) continued to decline on Thursday, while sandbox rallied following its partnership with WMG.
The price of cosmos 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.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.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.was down for a second consecutive session, falling to an intraday low of $30.14 in the process.
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 , and 25-day moving averages crossed downwards.As a result, prices are now nearing support of $29.20 and were trading over 10% lower as of writing.
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