The Sandbox (SAND), one of the metaverse projects that distinguished itself positively between altcoins last week and stood out with the agreements it made in June, realized a price of $ 1.35 with an increase of 30 percent.
So, can the price test the $1.35 level again and stay above this zone?
From the downtrend to the uptrend with positive price action since June 18
According to the data from Santiment, when we look at the volume values, which is one of the important metrics, we can see that it moves in parallel with the price.
However, another data is the number of new addresses created in the SAND network. Here, too, it is seen that there has been a decrease of 22% in the last 24 hours in the analyzed period.
Looking at the technical indicators on the 4-Hour timeframe, if the uptrend is maintained and the $1 and $1.08 zone is protected by buyers, the previous resistance level at $1.32 can be retested.
The breakdown of this region will be an important level for the formation of AB=CD formation. However, on the other hand, with the closings below the $0.96 region, the important demand zone to be followed will be the $0.75 level.
Apart from this, when we look at the 50-100-200-day moving average indicators, it should not be ignored that the price is holding in this region, but on the other hand, the Stochastic RSI is moving down from the overbought region.
