Sandbox Price Prediction: SAND Price Aims $3.6 Mark with Double Bottom Breakout
The recent correction sentiment in the crypto market discounted the Sandbox(SAND) price by 28% and plunged to last quarter’s bottom support at $2.65. However, today the coin price witnessed a significant inflow responding to the recent report that the platform seeks to raise about $400 million, with their target valuation of $4 Billion. Moreover, the Sandbox has freshly announced its partnership with Apex Athletes and flickplayapp.
Key points:
- SAND price bounce back from $2.65 support with a morning star candle
- The SAND chart reflects a double bottom pattern
- The intraday trading volume in SAND price is $524.5 Million, indicating a 70% gain.
Source- Tradingview
Last quarter the Sandbox(SAND) price experienced a roller coaster ride which retested the $2.65 support level several times. Therefore, the number of bounces back from this support indicates the buyers are aggressively defending this accumulation zone.
The recent V-top rejection from the $3.65 resistance plummeted the SAND price to $2.65 support, undermining the march recovery rally. However, the technical support aligned with fundamental news triggered a strong rebound from this bottom support.
Moreover, the SAND chart shows a double bottom pattern with a neckline at $3 resistance. The coin price currently trades at the 2.94 mark, with an 11% pump from the $2.65 mark.
A 70% pump in trading volume reflects buyers’ commitment to the bullish recovery. If the SAND price gives a breakout and daily-candlestick closing above the $3 mark, the triggered chart pattern will surge the coin 12.5% high to $3.36, followed by $3.36.
Technical analysis
The MACD indicator presented the fast and slow lines are on the verge of bullish crossover. This buy signal may bolster a bullish breakout from the $3 neckline.
However, the EMAs slopes are in favor of sellers, presenting a death crossover among the 50-and-200-day EMA. Moreover, the 20-day EMA aligned with $3 resistance mounts an extra defense line.
- Resistance levels- $3, $3.37
- Support levels- $2.65 and $2.28
- Bitcoin Price Could Fall or Rise by $20K in Q4, 10x Research Reports
- Will Crypto Market Recover As Bitcoin and Altcoins Test Crucial Support?
- FTT Token Rallies as Sam Bankman-Fried’s Account Tweets Amid Prison Sentence
- Experts Says ‘Way, Way Higher’ Ahead As ASTER Token Shoots 30% Above $2
- “Bitcoin Will 10x Gold,” Michael Saylor Says Amid Rising Treasury Adoption
- Ethereum (ETH) Price Faces Pullback Before $10K Surge Amid SEC ETF Approval
- PEPE Coin Price: Analyst Sees Breakout-Retest Pattern- Will It Surge Over 230%?
- Shiba Inu Price Eyes 25% Rally as Outflows Jump and Whales Buy 62B Coins
- XRP Price Rises on mXRP Launch, Recovery Ahead?
- Solana Price Prediction: $836M Whale Transfer Spark Fear of $200 Retest Before 62% Rebound
- Bitcoin Price Prediction: $150K in Q4 as Gold’s ATH Momentum Sets the Tone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
