SAND/USDT bullish ride 👀 🚀 The sandbox today analysis
💎 t's currently trading in a demand zone, setting the stage for a potential bullish move. We've also noticed a descending channel pattern that's on the verge of a breakout.
💎 Previously, we saw the demand zone turn into a supply zone, causing a significant downward price movement. The market has since grabbed buying liquidity and mitigated the previous imbalance.
💎 Currently, SAND is maintaining strong momentum above the 21 EMA, which further bolsters the potential for a bullish journey.
💎 In the dynamic world of crypto, staying informed and adaptable is key. Stay tuned for more updates and enjoy your trading journey
Sandusdt
SANDUSDT relevant support and resistance levelsThe price bounced from weekly support WS1 and head towards 4h resistance 4HR1. From there it was rejected and pulled back. It seems logical that the price will visit the daily support again before attempting the 4h resistance 4HR1 again. Anyways, a long is favorable from daily support if the price reaches there. Overall all the relevant supports and resistances are marked and the principle remains same: long the support and short the resistance.
Sand OutlookI expect a bounce from the current price to two mentioned targets. SAND has been recently added to allowed trading crypto in Hong Kong which pumped the price. Afterwards, it was target by SEC and labelled as a security and price dumped. I am following this token for years now. It is a mid-risky token; therefore, you can take the huge plunge from $0.61 to $0.33 by SEC as a buy opportunity.
SAND Sandbox and the Altcoin Season ThesisIf you haven`t sold SAND here:
or bought it back here:
Then the recent developments in the cryptocurrency market, particularly the favorable court ruling for Ripple Labs, signal an optimistic start to a new altcoin season.
With the federal judge ruling that some of Ripple's sales of the XRP token do not fully meet the definition of a securities offering, it instills confidence in the altcoin space.
This ruling brings clarity to the regulatory landscape and alleviates concerns surrounding XRP, leading to major cryptocurrency exchanges, including Coinbase, relisting the token. The reintroduction of XRP to these platforms demonstrates growing acceptance and renewed interest in this altcoin.
The anticipation surrounding the approval of a spot bitcoin ETF in the United States adds to the positive sentiment in the market.
The successful launch of a previously approved ETF in Europe further reinforces the upward trend for altcoins.
The recent court ruling that declared XRP as not a security sets a precedent that could potentially benefit other cryptocurrencies currently classified as securities by the SEC. In the SEC's case against Binance, they designated 10 cryptocurrencies, including BNB, BUSD, SOL, ADA, MATIC, ATOM, SAND, MANA, AXS, and COTI, as securities.
Additionally, in the SEC's lawsuit against Coinbase, they named 13 cryptocurrencies, reinforcing their stance on SOL, ADA, MATIC, SAND, and AXS, and adding CHZ, FLOW, ICP, NEAR, VGX, and NEXO to the list.
This development showcases the increasing institutional acceptance of cryptocurrencies and creates a ripple effect across the market, providing a boost for various altcoins, including SAND Sandbox, for which my price target is $0.60.
Looking forward to read your opinion about it!
SAND Sandbox Technical ReboundIf you haven`t sold SAND here:
Then in my opinion, based on the analysis of SAND's chart patterns, I can see the potential bullish signals suggested by the double bottom and falling wedge patterns.
These patterns often indicate a reversal or continuation of the current trend, which makes me optimistic about the stock's future performance. Considering the support found at the double bottom and the narrowing price range in the falling wedge, it appears that buyers are entering the market, and there is potential for an upward price movement.
Given these chart patterns and my analysis, I have set a price target of $0.50. I believe that a technical rebound leading to such a price level is feasible based on the signals observed.
Looking forward to read your opinion about it.
#SANDUSDT Profit Analysis Update ( 37% Down from our TA#SANDUSDT Profit Analysis Update:
NYSE:SAND is currently trading at $0.39, which represents a 37% decrease from our previous analysis. If you followed our suggestion to short, we hope you earned significant profits. However, even if you didn't short, you still saved your money as it's now down by 37% from that level.
The impact of the SEC lawsuit has caused a substantial 45% decline in NYSE:SAND 's price.
Looking ahead, we anticipate a potential upward move before another leg down towards the $0.2-$0.150 range. Keep a close watch on the $0.380 support level. If it holds, we may witness an upward move towards $0.55 before the subsequent downward movement.
However, if the current support at $0.380 fails, we could see another significant drop.
Our expectation is that NYSE:SAND may reach the $0.2-$0.15 range by the end of this year, presenting excellent buying opportunities for long-term holders.
In the next bull run, we anticipate NYSE:SAND potentially hitting $10, representing nearly a 50x increase from the lower support area.
Please note that this analysis reflects our personal opinion and is not financial advice. We encourage you to conduct your own research before making any investment decisions.
Thank you.
SAND/USDT Technical Analysis: Bearish Outlook with Buying Opport#SAND/USDT Technical Analysis: Bearish Outlook with Potential Buying Opportunities
In this technical analysis of the #SAND/USDT trading pair, we'll examine the current market situation and analyze key factors affecting the price of $SAND. While recent news and chart patterns indicate a bearish trend, there are potential support levels that could offer buying opportunities for long-term investors. Please note that this analysis is for informational purposes only and should not be considered as financial advice. Conduct your own research before making any investment decisions.
Headings:
Current State of #SAND/USDT: Bearish Trend and Recent News
Impact of Token Unlocking Schedule on NYSE:SAND Price
Price Projection for NYSE:SAND : Potential Drop to $0.2 by December 2023
Short-Term Outlook: Anticipating a Small Pump Followed by Further Decline
Key Support Levels and Target Zones for Buying Opportunities
Bull Scenario: Long-Term Potential and the Need to Break Resistance
CryptoPatel Key Levels for #SAND/USDT: Support and Resistance
Conclusion: Conduct Thorough Research and Exercise Caution
Current State of SAND/USDT: Bearish Trend and Recent News
NYSE:SAND is currently trading at $0.515, displaying a bearish trend.
Recent news has contributed to the downward movement, with a significant 15% drop following the SEC news.
Impact of Token Unlocking Schedule on NYSE:SAND Price
Historical analysis reveals that NYSE:SAND often experiences substantial price declines after token unlocking events.
The upcoming unlocking of 11.085% of the total supply suggests the potential for further downside.
Price Projection for NYSE:SAND : Potential Drop to $0.2 by December 2023
Based on the analysis, there is a possibility that NYSE:SAND may reach $0.2 by December 2023.
However, a short-term pump up to $0.7 is expected before a potential leg down.
Short-Term Outlook: Anticipating a Small Pump Followed by Further Decline
The current expectation is a small pump in the short term, possibly reaching $0.7.
However, this would likely be followed by another downward movement.
Key Support Levels and Target Zones for Buying Opportunities
Two significant support levels are identified for potential buying opportunities: $0.38 and $0.177.
Holding the $0.38 support level would be favorable, but if it breaks down, a further decline to $0.177 is possible.
Bull Scenario: Long-Term Potential and the Need to Break Resistance
In the long term, there is a bullish outlook for NYSE:SAND , with a potential target of $10 in the next bull run.
However, breaking the strong resistance at $0.87 is crucial for the bullish scenario to materialize.
CryptoPatel Key Levels for #SAND/USDT: Support and Resistance
Support Levels: $0.3785 and $0.177
Resistance Levels: $0.7 and $0.87
Conclusion: Conduct Thorough Research and Exercise Caution
This analysis provides insights into the current state and future projection of #SAND/USDT.
It is important to conduct thorough research and analysis before making any investment decisions.
The cryptocurrency market is highly volatile, and individual research is essential to make informed choices.
Conclusion: The #SAND/USDT trading pair currently exhibits a bearish trend, influenced by recent news and historical patterns. While a potential decline to $0.2 by December
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Thank you.
SAND: Descending Triangle BreakoutSandbox (SAND) technical analysis:
Trade setup : Bullish breakout from Descending Triangle and above $0.60 (also 200-day MA) could signal a bullish trend reversal, with upside potential to $0.70-$0.80.
Pattern : Price is trading in a Descending Triangle pattern. Typically, a breakout will occur in the direction of the existing trend. Most traders will take a position once the price action breaks through the bottom line of the triangle with increased volume, which is when the price should decline an amount equivalent to the widest section of the triangle.
Trend : Uptrend on Short-Term basis, Neutral on Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance : Nearest Support Zone is $0.50, then $0.38. The nearest Resistance Zone is $0.75, then $1.00.
SAND Looks Ready to Breakout!Traders,
SAND is in prime position to move even higher than it already has these past few weeks. I haven't entered this trade yet but may soon pending these occurrences:
I want to see a move above the 200 day ma with confirmation
I want to see a break above the red descending TL
I want to see a move above the Ichimoku cloud
What we have:
A breakout of the triangle in Logarithmic View. Click the "Log" text in the bottom left corner of the chart to see this view.
What I don't like:
RSI nearing oversold
Let me know in the comments if/when you decide to enter this trade.
Stew
The Sandbox (SAND) formed bullish BAT | A good buy opportunityHi dear friends, hope you are well and welcome to the new trade setup of The Sandbox (SAND).
Previously I shared a long-term trade setup for SAND, which is still in play as below:
Now on a 2-hr time frame, SAND is about to complete a bullish BAT move for the bullish reversal move.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.