I am initiating purchases of SAND in this region. From a technical analysis standpoint, prices currently hover just above a robust support level, indicating significant potential for upward momentum in the coming weeks.
Key technical indicators include:
- Consolidation above the Fibonacci level 0.5.
- The Tenken Sen has recently crossed above the Kijun Sen, signaling a confirmed uptrend. These indicators are bolstering the current price action.
- Furthermore, the price has recently breached the Ichimoku cloud, undergone a retest, and appears poised for a potential rebound.
In the fundamental side, it's worth noting that discussion surrounding the Metaverse has been relatively quiet for some time. This presents an opportunity for market makers to generate renewed excitement and hype around the concept, potentially catalyzing significant interest in SAND this year.
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
--- About SAND ----
SAND tokens are used within the Sandbox ecosystem for various purposes, including purchasing LAND, ASSETS, and participating in governance decisions. Additionally, creators can earn SAND by designing and selling virtual content within the Sandbox platform.
