- Sandbox price has bounced off a launching pad, signaling the start of an uptrend.
- Investors can expect SAND to rally 30% to $5.25 and collect liquidity resting above it.
- A four-hour candlestick close below $3.49 will invalidate the bullish thesis.
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Week survives scare as House members scramble to advance procedural motion in a 217–212 vote
House Republicans scrambled to win over holdouts on Wednesday to pass a procedural motion for several crypto bills by a vote of 217–212. The longest House vote in history, which lasted nearly ten hours, will see the GENIUS and CLARITY bills head to the floor for final passage deliberations on Thursday.
Chainlink stabilizes as Westpac and Imperium Markets adopt LINK in Project Acacia
Chainlink (LINK) price is stabilizing at around $16.47 on Thursday after rallying 5% so far this week. LINK announced on Thursday that major institutions, including Westpac Institutional Bank and Imperium Markets, will integrate Chainlink in Project Acacia, thereby boosting institutional use cases.
Top Crypto Gainers: Solana-based meme coins FLOKI, BONK post double-digit gains, CRV targets $1
Solana-based meme coins Floki (FLOKI) and Bonk (BONK) edged lower by 2% at press time on Thursday, following the 30% gains on Wednesday, ranking as top crypto gainers in the last 24 hours. Curve DAO (CRV) ranks third with a 21% surge following a triangle setup breakout, targeting the $1 psychological level.
TRX rises 3% as SRM Entertainment rebrands to Tron Inc
TRON (TRX) gained 3% on Wednesday following Nasdaq-listed SRM Entertainment's (SRM) announcement of its rebrand to Tron Inc. as part of its shift to a TRX treasury strategy.
Bitcoin: BTC hits new all-time high and enters price discovery mode
Bitcoin price prints a new all-time high near $118,900 on Friday, entering uncharted territory as bullish momentum accelerates. The surge in BTC was supported by rising corporate and institutional demand, with spot Bitcoin ETFs recording a total of $1.69 billion this week as of Thursday.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.