The Sandbox (SAND) has remained down for the best part of two weeks. Although there are some cases where the coin showed some bullish signs, most rallies have been “fakeouts”. But there is a real possibility that SAND could in fact rally further over the coming days. Here are some notable highlights:
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Any SAND breakout will need to be accompanied by high trade volumes
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The coin could realistically hit $2.6 in a decisive run
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However, there will be many volatile moments in between
Data Source: TradingView
The Sandbox and its road to $2.6
It was just a few weeks ago when SAND was trading at well above $5. The coin has however seen a major sell-off as investors intentionally stay away from metaverse coins. But this downside has presented the perfect dip for long-term SAND buyers.
The coin has already bottomed, and it has a real chance of surging past $2.6 in the near term. But this will not be easy. In fact, for SAND to hit $2.6, it will need to surge by a whopping 100%. Under current market conditions, this may appear quite unlikely.
However, if we start to see increased trade volume on SAND, then a decisive run towards $2.6 will no longer be a pipe dream. It is likely that SAND will undergo a period of volatility before it touches $2.6. There will be bull runs and corrections in between. But eventually, with increased volume, $2.6 will happen in a few weeks.
Why should you buy SAND now?
The Sandbox is no doubt one of the most recognizable metaverse projects. Yes, it has dipped severely in 2022, but its underlying fundamentals still remain very robust.
SAND will likely end the year in double digits. Buying at the current price of $1.3 is, therefore, a big discount.