Bullish Signals for SAND: Breakout on the Horizon?

Sandbox (SAND) has sparked excitement with a strong price surge. Currently trading at $0.671, the token has climbed 3.89% in just 24 hours. Breaking through key resistance has fueled optimism about further gains. Technical patterns and on-chain data offer clues about SAND’s next moves.

Breaking Resistance and the Golden Cross

SAND recently smashed through the $0.628 resistance level. This price cap previously blocked upward momentum but now serves as a potential support zone. Sustaining this level could pave the way for further growth.

Adding to the excitement, the golden cross pattern has emerged. This bullish signal occurs when the short-term moving average rises above the long-term average. Many traders view this as a sign of continued upward momentum.

Whale Activity and On-Chain Strength

On-chain metrics reinforce confidence in SAND. Network growth has risen by 0.89%, indicating an increase in user activity. Higher engagement often points to stronger demand, boosting price potential.

Profitability remains a strong driver. Nearly 9.91% of transactions show holders in profit, which reduces selling pressure. Large transactions have surged by 15.78%, signaling whale accumulation.

The Long/Short ratio stands at 52.25% long and 47.75% short, showing more bets on a price rise. This slight edge for long positions aligns with the broader bullish outlook for SAND. SAND’s recent breakout above $0.671 has set the stage for possible further gains. 

The golden cross and declining exchange reserves bolster this outlook, while whale activity shows growing market confidence. If demand remains strong, SAND may continue climbing, offering an exciting opportunity for traders to capitalize on the momentum.