Sandbox (SAND) Shows Breakout Potential with 45% Monthly Gain
- Price Rally: Axie Infinity (AXS) surged over 16% in a single day and more than 246% over the past month, reigniting optimism around gaming cryptocurrencies and driving Sandbox (SAND) up nearly 45%, indicating strong market demand and investor confidence.
- Technical Structure: SAND is currently forming a bullish descending broadening wedge on the daily chart, suggesting that buyers are gradually regaining control during corrective phases, with a rebound at the $0.11 area indicating strong support that may lay the groundwork for future gains.
- Breakout Potential: Should SAND break above the upper wedge resistance at $0.1711, it would confirm a bullish breakout, with a target price of $0.2849 representing approximately 73% upside from current levels, further enhancing investor optimism.
- Market Outlook: With renewed attention on gaming tokens, SAND's overall technical structure remains constructive, and if a breakout is confirmed, it could signal the beginning of a stronger upward phase, attracting more investors to participate.
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Technical Analysis for SAND
Technical Sentiment Analysis for The Sandbox (SAND) As of , The Sandbox (SAND) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SAND stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SAND is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
The Sandbox (SAND) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0258 | 0.048 | 0.0704 | 0.0926 | 0.115 | 0.137 | 0.16 |
| Fibonacci | 0.048 | 0.065 | 0.0756 | 0.0926 | 0.11 | 0.12 | 0.137 |
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