Lucas Costa believes that two crypto assets could cause surprise by initiating a bullish move during the market crash. BNB has accumulated a 0.81% profit but would continue to correct, while SAND has not yet resumed the upward trend after losing support.
Lucas Costa, a market analyst at BTG Pactual Digital, recently published a study. He highlighted that Binance Coin (BNB) and The Sandbox (SAND) are cryptocurrencies with short-term reaction potential.
The expert analyzed those two cryptocurrencies against BTC, attempting to predict their future in the market. He sought to determine a bullish possibility amid the deep decline in the price of the pioneering cryptocurrency in recent weeks.
The Price of BNB Could Hit New Highs
Concerning BNB, it is the native cryptocurrency of the ecosystem of the cryptocurrency exchange Binance. Costa noted that this crypto asset accumulated a profit of 0.81% this week. However, he believes that its value could continue to correct in the short term.
The analyst also argued that the price of BNB broke the resistance at 0.010540 BTC. He believes that such support could lead the cryptocurrency to hit new highs and generate a breakout against Bitcoin. Furthermore, he suggested that the next few days would allow further Fibonacci expansions at 0.012041 BTC (141.4%).
BNB is trading at around 0.0110717 BTC and has accumulated a 1.8% profit in the last 24 hours. Its trading volume is above 35,162 BTC, and its market capitalization is about 1,857,488 BTC, according to CoinMarket.
The Value of SAND Resumes a Bullish Movement
According to Lucas Costa, another crypto asset with the potential for a rapid recovery amid the market crash is Sandbox (SAND). Between October and November, the metaverse cryptocurrency appreciated by about 1,200%. At that time, it had a 21-period moving average at 0.00010297 BTC.
The price of SAND lost support, so the prospect of breaking the high of 0.00014825 BTC high is not yet possible. It is a matter of time before the value of the cryptocurrency reacts and resumes an upward movement, even during the market crash.
SAND is trading at around 0.0001065 BTC and has accumulated a 7.9% profit in the last 24 hours. Its trading volume is above 23,622 BTC, and its market capitalization is about 97,611 BTC, according to CoinMarket.
The Brazilian expert recently compared charts of the BNB/BTC and SAND/BTC pairs with the movement of other cryptocurrencies. According to them, there was a lot of selling pressure in the market in the last few days.
Chainlink (LINK/BTC), Polkadot (DOT/BTC), and Uniswap (UNI/BTC) did not show more consistent on-chain data for a short-term breakout opportunity. For that reason, Costa believes that BNB and SAND would be in a better position to increase their prices.
The study by the Brazilian analyst reveals the great growth possibilities of the BNB and SAND cryptocurrencies. However, it is a matter of time before the market resumes the upward trend before its crash.
By Alexander Salazar
