The Sandbox (SAND) Price Prediction: Can Bulls Break the $0.36 Resistance?

The Sandbox [SAND] has made headlines with an extraordinary 20.49% surge in price, climbing to $0.3629 in a remarkable display of market strength.

The Sandbox (SAND) has made headlines with an impressive 20.49% surge in price, climbing to $0.3629. This move marks a significant breakout from a consolidation period.

Moreover, trading volume skyrocketed by a staggering 480.65%, reaching $666.26 million in just 24 hours. This surge in activity highlights traders’ interest in SAND and suggests a strong conviction behind the token’s recent price action.

At press time, SAND was retesting the critical $0.36 resistance, sparking speculation about whether the bullish momentum can continue or if a pullback might occur.

SAND’s price action faced a crucial test at $0.36, a resistance level that has previously capped upward movements. However, breaking above this threshold could unlock higher targets, particularly at $0.42 and $0.48, as indicated by Fibonacci retracement levels.

On the other hand, rejection at this level may lead to short-term price corrections before any further upward trajectory.

Momentum indicators like the MACD are signaling bullish strength, with a crossover supported by increasing histogram bars. This suggests that buying pressure remained robust.

Additionally, SAND’s position near the 1.618 Fibonacci level ($0.34) reinforced the importance of the $0.36 level as a make-or-break point for the token.

Active addresses rose by 2.42%, indicating growing interest among market participants. Additionally, transaction counts climbed by 3.44%, reaching 3,720 over the same period.

These data points highlighted increased activity within the ecosystem, which could further fuel SAND’s bullish momentum. Therefore, rising network engagement aligned closely with the token’s recent price surge.

Exchange reserves for SAND dropped slightly by 0.17%, with 575.59 million tokens now held on exchanges. This indicated reduced selling pressure and hinted at accumulation by long-term holders.

If this trend continues, it could provide a stable foundation for sustained price growth as circulating supply tightens in the market.

A remarkable 54.89% increase in Open Interest, bringing the total to $72.83 million, reflected heightened speculative activity.

This rise suggested that traders were positioning themselves for significant price movements. However, while this could amplify upward momentum, it also increases the likelihood of heightened volatility, depending on market sentiment.