Sandbox The price is currently at a very important level to determine a direction trend again after the recent declines. A bounce from that support level will likely trigger an uptrend that will end the downtrend.
Sandbox price has dropped nearly 35% in total in the last five days and managed to break the daily demand zone from $2.69 to as high as $3. The move at these levels will be quite significant as this resistance level has previously acted as a ramp to provide bullish strength for the SAND price.
Therefore, it is still possible for the recent correction to make a “U-turn” and then start a rapid recovery rally. This move SAND pricewill result in s retesting the $3.31 barrier and increasing the overall win to 16%. While this move is on the upside, an optimistic scenario could result in Sandbox price dropping to $3.31 and retesting the psychological barrier of $4, which would mean an overall gain of 38%.
Although unlikely, Sandbox price could tag the weekly resistance barrier at $4.71 in a highly bullish scenario.
As things look for Sandbox price, it could see SAND attempting to break through the $2.69 to $3.00 demand zone if it results in increased selling pressure. A daily candlestick near $2.69 will create a lower low and invalidate the bullish argument.
This development will pave the way for the bears to take control, resulting in a possible collapse to $1.80. This move is with a 33% drop for the Sandbox price. However, following the crash, it will also likely be a place for sideline buyers to re-enter and give the uptrend a chance once again.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.