Any additional bearish Sandbox price predictions will be put to the test in the next two days, as the price activity approaches a region of support. This reguion of support has held successively in two previous tests, and this has limited an extension of the correction from the progressively lower highs of late November and late December 2021.
The recent bearish run of Sandbox stemmed from comments credited to Animoca (owners of Sandbox) founder Yat Siu on Tencent and Meta Platforms emerging as the new threats to the company’s focus in building an open metaverse. Sandbox has lost 4.21% on the day, making it three consecutive days of losses for the SAND/USDT pair.
What is the Sandbox price prediction for the rest of the week?
Sandbox Price Prediction
The price action is sitting on the support zone which lies between 4.2915 and 4.0053. A further decline is only possible if the bears crack through this support. If this is successful, 4.0033 becomes the new downside target. 3.3372 and 2.8399 are additional targets to the south if the decline continues.
On the other hand, a bounce on the support zone provides an impetus for the bulls to target 4.6542. If this resistance barrier yields to bullish pressure, 5.2656 and 5.7016 will become additional targets to the north.
SAND/USDT: Daily Chart
Follow Eno on Twitter.