CandleFocus

Sandbox (SAND) Faces Bearish Pressure After Hitting Yearly High

Author: Content Editor
The cryptocurrency, The Sandbox (SAND), recently reached a yearly high of $0.86 but has since dropped 20% in the past 24 hours to $0.6061. Its market cap has fallen 19.54% to $1.47 billion, and trading volume has decreased by 59.37% to $2.06 billion. The age-consumed metric and exchange flow balance indicate increased selling and bearish sentiment. The technical chart shows that SAND is trading below key support levels, with weakening momentum. The RSI is hovering near overbought levels. If selling pressure continues, SAND could test the $0.61 support level or even drop to $0.50. Reclaiming $0.86 as resistance is crucial for a bullish recovery and the potential for a rally toward $1. Stabilizing and reversing the ongoing sell-offs is essential for SAND to recover. Caution is advised as the market leans bearish in the short term.

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