|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
The Sandbox (SAND) Price Prediction 2023-2025: Market Change To Bullish?
Sep 16, 2024 at 05:00 pm
The Sandbox (SAND) has lately attracted interest with opposing opinions on its potential price movement. Although some analysts believe there is room for large increases, short-term data point to a more wary stance.
The Sandbox (SAND) has recently sparked contrasting opinions among investors, leading to speculation on its potential price movements. While some analysts foresee opportunities for substantial gains, short-term data suggests a more cautious approach.
Despite promising long-term projections, recent analysis hints at a possible price decline in the upcoming weeks. So, what exactly is the SAND story, and should investors buy now or wait?
Further Reading:
FET: 30% Surge Grabs Investors’ Attention As New Developments Unfold
According to crypto price prediction website CoinCodex, by mid-October 2024, the total value of The Sandbox is expected to decrease by 5.45%, reaching $0.232674. Technical indicators also lean toward a bearish outlook.
If the Fear & Greed Index, which currently stands at 51, is any indication of neutral market sentiment, then a quick recovery may not be on the horizon either. SAND has experienced 63% of green days in the last month, but its volatility rate stands at 6.27%, indicating continuous instability in the market.
Short Term Woes
In the short term, SAND doesn’t seem to be painting a rosy picture. The technical outlook so far is largely conservative, suggesting that buying now may not be optimal.
While SAND has managed to show some resilience with a decent number of green days, the overall price momentum is trending down. Those looking to make quick profits might want to hold off and wait for more favorable conditions.
Despite the high volatility, some investors are holding on, anticipating a quick market reversal. When it comes to cryptocurrencies, volatility is nothing new, and The Sandbox has weathered such storms before.
However, this doesn’t mean SAND is immune to further declines. If the price projection holds true, a slide down to $0.232674 could invite more short-term market activity.
Long Term Positivity
In contrast to the gloomy short-term outlook, some analysts, like Alan Santana, are presenting a more bullish case for the long term.
Santana speculates that SAND might be in a critical accumulation phase with great upside potential. He claims that while recent volatility has caused fluctuations, the coin has consistently achieved lower lows since July 2021, indicating an overall increasing trend.
Moreover, he suggests that this could be a prime opportunity for long-term investors to acquire SAND at the current low price.
#Altcoins ✴️ The Sandbox 1,111% Growth Potential (Accumulation Strategy)
We're going to be looking at the log. chart for The Sandbox, but if we look at the linear chart we can simply say that this pair is trading at bottom prices.
When we look at the log. chart from a bird's eye view we can see that this pair has been creating higher lows (HL) & lower highs (LH) since it began to decrease in value from its all-time high (ATH).
This type of price action on a log. chart is typically bullish & suggests that this pair has been accumulating buyers as it decreases in value & setting up for a potential reversal.
We can also see that this pair has been trading in a descending channel & that it has recently bounced off of the lower boundary of this channel.
This could be a sign that this pair is ready to begin moving up again & if it does, then our analysis suggests that it could continue to rise until it reaches the upper boundary of this descending channel
(1 Day Chart)
We can zoom in a bit to get a closer look at the price action of this pair as it approached bottom prices & began to show signs of accumulation.
As we can see, this pair began to rally up from bottom prices & encountered resistance at the 0.3 Fib. level, which caused it to pull back & begin trading sideways.
It then attempted to break through this resistance level again & succeeded on the second try, which caused it to continue moving up & eventually reaching the 0.5 Fib. level.
This Fib. level acted as support & allowed this pair to bounce off of it & continue moving up. It then encountered resistance at the 0.618 Fib. level, which caused it to pull back slightly.
However, this pullback was short-lived & this pair quickly recovered & continued moving up. It then broke through the 0.786 Fib. level & encountered resistance at the 0.85 Fib. level, which caused it to pull back again.
This pullback brought this pair down to the 0.786 Fib. level, which acted as support & allowed it to bounce off of it & continue moving up.
It then broke through the 0.85 Fib. level & encountered resistance at the 0.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Claim Your $RADAR Airdrop Before Time Runs Out!
- Sep 24, 2024 at 10:10 am
- $RADAR Airdrop Alert: 40 Millions Tokens For Adopters
-
- Claiming Titans: Dominate the $KCS Airdrop Scene
- Sep 24, 2024 at 10:10 am
- $KCS Program Airdrop Claim TRON Degen
-
- Bitcoin and Ether Thrive as AI-Driven Token Sector Surges After Fed Rate Cut
- Sep 24, 2024 at 08:15 am
- Bitcoin and Ether, the two largest cryptocurrencies by market capitalization, were thriving on Monday morning, buoyed by the U.S. Federal Reserve's recent interest rate cut.
-
- Bitcoin Creator Satoshi Nakamoto Foresaw Potential of BTC for Everyday Payments 14 Years Ago, When It Was Valued at $0.07
- Sep 24, 2024 at 08:15 am
- In a statement made exactly 14 years ago, pseudonymous Bitcoin creator Satoshi Nakamoto highlighted the potential of Bitcoin for everyday payments.
-
- ETFSwap (ETFS) vs Meme Coins: Which Is the Smarter Investment in 2024?
- Sep 24, 2024 at 08:15 am
- The contest between meme coins and utility tokens is ongoing. As 2024 advances and 2025 approaches, investors are weighing their options
-
- Bonk Inu (BONK) Is on the Verge of Setting a Historical Precedent After It Was Announced
- Sep 24, 2024 at 08:15 am
- Based on the information privy to us, the ticker would be the same (BONK), and the launch could be announced by the end of the year.
-
- Bitcoin Hashrate Shifting To The US After China Ban
- Sep 24, 2024 at 08:15 am
- As Ki Young Ju notes, Bitcoin mining activity is shifting to the United States, though Chinese miners still dominate.
-
- Injective (INJ) Price Prediction 2023 – Will INJ Hit $29 Peak?
- Sep 24, 2024 at 08:15 am
- Over the past week, Injective [INJ] has embarked on a major rally, gaining 18% after rebounding from the lower bound of its trading channel.
-
- WATCoin Farming Event Begins on Bitget's PoolX Platform
- Sep 24, 2024 at 08:15 am
- YEREVAN (CoinChapter.com) — Bitget listed WATCoin (WAT) to its trading platform on Sep. 23, 2024. This addition enables users to lock in