Sandbox price positioned perfectly for a 30% gain

Sandbox price has bounced off two crucial support levels, suggesting a reversal is around the corner. The run-up that evolves from this barrier will likely propel SAND to slice through immediate hurdles and collect liquidity.

Sandbox price prepares for liftoff

Sandbox price created a range that extends from $3.49 to $4.88 as it rallied 40% between February 4 and 9. Since creating a local top, SAND has retraced to the high probability reversal zone, the 70.5% retracement level at $3.90.

This area is a sweet spot that often reverses the retracement and pushes the asset back to the range high or beyond it. As Sandbox price retests the 62% retracement level, investors can position themselves long at the current price – $4.08.

Market participants can expect a 19% ascent to retest the range high at $4.88, the first hurdle. Crossing this blockade will open the path for Sandbox price to $5.24 to collect the liquidity resting above it. Investors can book profits at the levels mentioned above.

SAND/USDT 4-hour chart

In case the bullish momentum falls short, Sandbox price can rely on the sidelined buyers to come in at the 79% retracement level at $3.78. Here, buyers can attempt another run-up. 

Only if Sandbox price produces a four-hour candlestick close below the range low at $3.49, it will create a lower low and invalidate the bullish thesis. In this situation, SAND could revisit the $3.31 support level.