CandleFocus

Sandbox (SAND) Leads Market Gains, Yet $1 Still Out of Sight

The Sandbox (SAND) reached a new yearly high but has since pulled back by 14% to $0.76. On-chain indicators show that long-term holders are moving their dormant tokens, indicating a potential shift in market trends. The rise in SAND's Exchange Flow Balance suggests increased selling activity, potentially leading to downward price pressure. Additionally, SAND's Relative Strength Index (RSI) indicates overbought conditions, putting it at risk of a near-term pullback. If the selling pressure persists, the price could drop to $0.72 or even $0.61, distancing it further from the $1 target. However, if selling pressure wanes, SAND may reclaim its year-to-date high of $0.86.

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