SAND Sandbox Crypto Price News Today – Technical Analysis Update, This is Happening Now!
If they want to break. If sand wants to break to the upside. If the bulls are strong enough, then the bulls have to get through 550 thats, the 0.5 flip level, and you can see how relevant that resistance level is. It is also basically the key level that we have to break above on this descending trend line. So youve got confluence of factors here, two factors coming together that are keeping sent down at the moment if bitcoin bitcoin, obviously going up a little bit at the moment. If bitcoin continues to do so, i would argue that sans can easily get above that level as well and will, at the moment, follow bitcoin. Bear in mind that in a move up, i think all these materials cryptos can make an impressive move up here. They can make impressive gains thats what i think so um. This was why i say you know in terms of dollar cost averaging sand. If youre interested in the project and again, i cant give financial advice, but these might be opportunities to get in while prices are dropping. People are always careful and cautious, which is the right thing to do, but people always get interested when sand is at eight dollars. 850, you know going into a new all time high territory, but if you like a project, if you think these meta verses are going to change the world, if you like sand the sandbox, why not buy now? You know i just i just say it even though im personally extremely careful with buying now, because um i do expect prices to go down further overall, but in terms of dollar cost averaging.
These might be possibilities where then, if you see an irrational move up, for example, something that is countering that downtrend um, which is a little bit larger, that could then be used for selling. For example, you know taking profits but um sand overall, together with bitcoin. If you know my bitcoin analysis, you will you will know that i expect actually further price drops, which doesnt mean that in the short term, we could see another move up, which is actually what i now expect for bitcoin, as bitcoin has made quite a bit of A move up, we could get all the way you know maybe even up to, and this will make it so difficult. We could even try to make a new high here um before we then drop down, but this all depends on bitcoin, where we have another lets. Call it irrational rally for um bitcoin to the upside before we then drop, or do we drop straight away, its extremely difficult to say and we um. If we continue to move up a little bit, then we will know that we will probably get into um the target range of yeah around 55 to 65k for bitcoin in that move up before we then drop down thats only what i believe im happy to be Proven wrong um, but my in in both scenarios that i have on the chart, bitcoin is going to drop to 30k and most probably even lower than 30k, so bear that in mind um.
I know im, probably quite um, quite alone with that analysis. Everybodys already talking about the next 100k now that bitcoin has moved up a little bit, unfortunately, but at the moment um you know i think everybodys interested in where the price could be heading and elliott. Waves are telling us that bitcoin is going to go down. So, in my view here also the sandbox is going to suffer from that. But if you really like a project and if you think that at some point next year, um we are going to see the public version come out because at the moment the sandbox is in the alpha test, then i think all of this would be interesting. Interesting buying opportunities, but again, then you could have bought the lows here, which i talked about as well um, and we need to be aware that we are still in this downtrend here and as long as were not breaking above 550 dont see that relief really happening, But if we can break 550 to the upside, then the next fib level is here at 630 at this previous high as well and after that, we will probably have here at this previous high a resistance at 674 at 675. and then and getting to here. The next trip level at 740, then youve got that b wave here at 791, nearly eight dollars, and then we can make it to all time highs. That is what the key levels of resistance are key levels of support.
Should we drop down weve got down here at um, 4. 70. The next key level of support will be here at round 360 a little bit higher, maybe because of that previous low here. But it is here based on the fib levels, 360 and then weve got um pretty much the three dollar level down here. These are key levels of support. Bear in mind. Nobody believed that we could get down to 550 as well and five dollars and weve hit. It weve even come below and um as long as we are still here in this pattern. We are continuing the downtrend, so this husband sand has followed bitcoin a little bit now in the move up, but it is facing a strong resistance here and um yeah. As i said, even if we go up from here a little bit now and we could even go all the way up to maybe yeah 740 but then again we would be massively overbought and i would expect another price drop. Also just looking at the indicators. But then also following bitcoin, because the indicators are still too high. If we take a look on the weekly and as you know, i expected this drop anyway for sand, especially, and i did pre warn you to take profits when we were above seven dollars so because we are still here on the weekly in the overbought range. We just cant easily make much much higher prices now um.
There is scope, yes, but ideally we want to correct it much further, which would actually confirm, but i told you that i expect further price drops um overall here on the macd as well on the weekly. We are starting to slow down yeah, which also confirms that, as the trend seems to be changing on the daily, we see also here um the mcd, not slowing down to the downside. So here, on the shorter term time frame, the daily we can see the macd um downtrend is not slowing down its, not losing any momentum. Also, the rsi isnt losing any momentum here, maybe a little bit starting to lose momentum, um, possibly finding support here at the 50 line. For now, but um again, we would need to break the 550 line to get back into at least a short term uptrend, but even then, because of the whole market and if youve seen my bitcoin video, i wont explain it all here again. I would expect, after a possible not not guaranteed but after a possible short relief rally, the price to go down further, and i would expect sand to follow or sand strop um, together with the other cryptos, to drop straight away into lower areas um. What i need to say is that i still believe sand is obviously a great project, and i think, after this correction that has to play out also for bitcoin that were going to see another rally and possibly a bull market next year that so far, not many People did expect looks like we are currently in a large correction that actually started in april abc um, even though we had highs in you know in the middle of the year, but its looking like we are in a large correction, and that has to play out Before we can enter a real bull market so um, this would then be in line with price expectations.
Many people have, it would just be much later than expected at some point next year, which i think is a good sign, because it means that we dont have to go through a year long bear market, and it would also indicate that we havent seen the bull Market, yet it would indicate that we are only having now a corrective move before we then continue to go up for bitcoin and i think sand will follow. What is important to understand is that sand will probably follow in a much more volatile way. What weve seen before, when bitcoin did drop that sand and other gaming cryptos, for example, mana gala, were much more volatile and recovered much quicker. I would expect that as well and in the next bull market here or in the next relief rally that could happen before we drop down that relief rally um, i expect them to do really well. You know because theres a lot of focus still on matervers and gaming and i dont see i dont see this stop. Yes, the initial hype has maybe stopped, but also um. There is still a lot of focus thats. My take on sand hope you liked the update.