Introduction

Good evening steemians, Am glad to be participating in this great competition. For this week assignment I will be joining the Team Frontline by professor @abdu.navi03, and @shemul21.so let's begin

• The name and introduction of the project token, and which exchange can be traded on, project/technical/team background, etc

The SAND token is the local token of Sandbox metraverse. It can be used for gaming experience in game world. The token can be earned through playing games in The Sandbox , it can be purchased on cryptocurrency exchanges. SandBox is a virtual world that was invented in the year 2011 by the Pixowl. The token was Built to run on Ethereum Blockchain,SandBox can be used to buy and sell digital assets.

Sandbox is play-to-earn game which makes use of blockchain technology like DeFi and NFTs in 3D metaverse. The NFTs created on sandbox can be sold for SAND tokens on Sandbox Marketplace. SAND can be used to buy NFTs in SandBox metaverse. The token gives its holders the opportunity to participate in controlling of the SandBox metaverse.

SAND Team

The SandBox and SAND was created by Arthur Madrid , Sebastien Borget and Some many persons in the team as seen in the image below.

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The SAND token has listed in so many exchange like: Binance, FTX, Gate.io, Huobi, KuCoin, Poloniex, Bybit, Bithumb and so many others thus SAND can be traded in these exchange without any violation of rules and regulation. below is the detail of SAND obtain from coinmarketcap .

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Rank: #38

Marketcap: $3,335,772,260

Volume: $995,890,393

Volume/Marketcap: 0.2977

Circulating Supply: 1.09B SAND

• Why am I optimistic on this token today

I'm optimistic about this token that this token will rise because it has a very strong use case and also from my technical analysis chart I discovered that the coin have been going through a downtrend for sometime which is applicable to virtually all the crypto asset . For analysis , I used MA 96 and EMA 48 along side RSI and from all indication the token will still rise because its trying to break the market resistance.

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• Analysis of the Token

From the screenshoot below, MA, EMA along side RSI which was used to pin point my position. Whenever EMA 48 and MA 96 meets and you see MA above it signifies that the trend is in bearish trend but when you see it below it signifies bullish trend. I discovered that the market was in a bearish trend movement for sometime and its trying to move up again The price is seen on resistance level couple of times.

According the image below, I discovered a crossover of the EMA over the MA, I took my entry, with a profit to loss margin of 2:1 , RSI indicator was seen moving upward. So I placed trade with entry price of 2.9315 so I set my take profit at 3.1250 and stop loss at2.8463

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The image below shows my orders carried out on binance exchange. So I placed trade with entry price of 2.9315 so I set my take profit at 3.1250 and stop loss at 2.8463. So immediately I placed my trade I took the screenshoot below.

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After some mins I recorded 0.22% loss image below.

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After some hours there was a spike in the price so I have to set the loss to 3.035 image below.

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I slept off , woke up and I discovered the trade was exited with the set loss to 3.035 and I made profit of $1.953 image below.

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Trade Info

Parameters	info
Entry	2.9315
Take Profit	3.1250
Stop Loss	2.8463 (Initial), 3.035(Final)
Ratio	1:2
Profit Made	$1.953

• Your plan to keep it for a long time or when to sell it?

I don't intend to keep the trade over a long period of time because the volatility of the market, I just do short time trading just to take profit once the market exceed the stop loss order and am still a newbie in futures trading , I don't want liquidate my capital.

• Do you recommend everyone to buy? Give reasons for recommending or not recommending

From my analysis the token will still rise in future and it has a solid use case , I can advise anybody who has the fund to buy and hold for a long period of time because sooner or later the token will rise for sure and Token is worth investing in.

Conclusion

In this assignment I was able to trade SAND/USDT for the on binance future market and also analyze the SAND token. Like I said SAND is was one of the fastest growing token which invest in and make profit .

Am Thankful professor Professor @abdu.navi03 for this wonderful lecture and also time.

Cc:
@abdu.navi03