Altcoins News
By Pankaj K
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The Sandbox (SAND), a prominent metaverse token, is currently under immense pressure following major sell-offs by a significant crypto whale.
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In the last 24 hours alone, Hashed reportedly deposited over 18.45 million SAND tokens—worth approximately $5.79 million—onto Binance. This is not an isolated event.
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Since the dumping began, SAND’s price has dropped by more than 22%, erasing much of the gains it had built earlier this year.
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Despite these challenges, technical indicators offer a mix of caution and hope. SAND has been following an ascending trendline since earlier this year, which has provided strong…
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Adding to this view is the token’s broader price pattern, which shows a consistent cycle of upward rallies followed by corrections and renewed breakouts.
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However, bearish signals in the derivatives market suggest that not everyone is optimistic. According to data from CoinGlass, many traders are heavily leaning into short…
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This imbalance signals a lack of confidence among traders that SAND can break through the $0.3155 resistance anytime soon.
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Currently, SAND remains trapped between a descending resistance line and the ascending support trendline.
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One notable concern is the declining engagement from retail traders. With fewer participants in the market and no immediate catalysts on the horizon, SAND's recovery could be…
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In conclusion, The Sandbox is at a crucial turning point. A continued defense of its ascending trendline could open the door to a strong recovery, possibly driving prices 27%…
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