Sandbox (SAND) price has become hot once again after a strong bounce from its yearly lows. The metaverse giant is currently nearly 35% up from its recent lows and is targeting more upside in the coming days. The ongoing bounce in SAND crypto is fueled by the bullish sentiment across the whole crypto industry.
After a 35% surge in the last 3 weeks, the native asset of the Sandbox game, SAND price, is consolidating right now. The price seems to be heading for a retest of the downward trendline that has been respected for the past 12 months.
Will SAND Crypto Make A Comeback?
The bullish price action by the SAND crypto in 2021 was driven by the insane metaverse hype, which made Facebook rebrand as Meta. Sandbox lands are one of the most valuable NFTs, but their prices have significantly corrected from all-time highs. While it may appear at the moment that the metaverse hype is over, it is due to make a strong comeback in the near future.
Altcoins have been rallying since last week as BTC price is gaining strength. The ongoing bullish sentiment in the markets can be attributed to the spot ETF filings by multiple traditional finance institutions like BlackRock, Fidelity, and Ark. Sandbox price has also benefited from this bullishness and is trading at 4-week highs.
Sandbox Price Prediction 2023
It is quite evident from the following SAND coin chart that the price is gaining strength after grabbing liquidity below the January lows. If the positive BTC price action continues, I expect it to retest the key psychological level of $0.50, which is 12% above the current price level.
However, for the Sandbox price prediction to flip bullish, it needs to break out from the downward trendline, which is visible on the chart below. This may act as a strong bullish reversal signal with the price targets of $0.94 in sight.
I’ll keep posting my updated SAND price analysis and my personal trades on Twitter, where you are welcome to follow me.
