- Sand’s Breakout signals Bullish Momentum, but resistance at $ 0.80 remains a crucial test.
- Institutional accumulation and falling exchange reserves support a potential continuing meeting.
The sandbox [SAND] Is broken from a falling wedge, a historic bullish pattern that indicates a strong momentum. At the time of the press, Sand traded at $ 0.3995, an increase of 10.31% in the last 24 hours.
This increase has drawn renewed interest and pushes the prize to critical resistance levels. However, the most important question remains: Can Sand retain this momentum and recover $ 0.80 and $ 1.50?
Sand price promotion shows a bullish breakout, but …
Sand’s outbreak of the falling wig pattern is a strong bullish indicator. Historically, this pattern leads to a persistent upward trend. The current rally suggests an increased purchasing pressure.
The first major resistance is $ 0.80, a level that has previously stopped upward movements. If bulls break this zone, the next goal is $ 1.50, where sellers can re -introduce.
However, price rallies are often achieved with corrections. Not holding above the breakout zone can cause a withdrawal. If the price falls below $ 0.35, the bullish setup can weaken, forcing a retest of lower trendline support.
Maintaining the momentum above the current levels is crucial for further profit.
Source: TradingView
Active addresses rise, which indicates the growing demand
Network activity provides insight into the potential price promotion of Sand. New addresses have increased by 16.57%in the last seven days, while active addresses have risen by 18.64%.
This growth suggests that more users are involved in the network, often a bullish sign for future price movements. Moreover, zero balance addresses have risen by 18.91%, indicating that some users cash in.
Transaction activity confirms institutional interest
A further consideration of transaction data shows an increase of 500% in $ 1 million – $ 10 million transactions, indicating a strong interest rate from large investors. In addition, transactions in the range of $ 100k – $ 1 million have risen 244.44%, which strengthens a bullish outlook.
These shifts suggest that institutional players collect sand, often a sign of potential price rating in the long term. Conversely, smaller transactions have fallen, which means that retail traders hesitate to buy at the current level.
Source: Intotheblock
Reserves of the exchange fall, which indicates …
Exchange reserves, an important metric for following the available delivery, have fallen by 1.56% to 484.32 million sand. This decline indicates that there are fewer tokens on exchanges, reducing sales pressure.
Historically, such trends correspond to price repair as investors assets to private portfolios, which expects higher prices.
However, external market conditions will influence whether this trend will continue. If the reserves fall further, this can indicate a continuous accumulation, so that the sand is pushed higher.
Source: Cryptuquant
Conclusion: Can Sand support its rally?
Zand has shown strong bullish signals, with rising active addresses and increased institutional interest in supporting its upward trend. If it applies above $ 0.80, the next stop can be $ 1.50.
Is your portfolio green? Check the sand profit calculator
However, not maintaining Momentum can lead to consolidation or a retest of lower levels. Although sand has a strong upward potential, breaking important resistance levels will determine the long -term trend.
