Sandbox

Sandbox SAND prediction as token hits a new low in the year

The Sandbox (SAND/USD) crashed by nearly 5% on Monday, extending its losing streak in the bear market. The loss took the token to a yearly low of $0.52 before recovering slightly. As it stands, the token of the Metaverse platform is under the control of bears.

It is not only SAND that is under pressure. Metaverse peers feel the heat of a very calm virtual reality space amid a prolonged crypto winter. This year’s activity is below par for a sector that was expected to witness unprecedented growth.

Take the case example of Horizon Worlds, the flagship metaverse for tech giant Meta. As of October, reports indicated that Horizon had amassed less than 200,000 monthly active users. Unless a miracle happens, Meta is unlikely to hit 500,000 MAUs by the end of the year, as initially projected.

As to whether the low activity in the metaverse is connected to the crypto winter, time will tell. At the moment, the metaverse is simply underperforming. The Sandbox token has, therefore, been in a prolonged downturn owing to fewer entities entering the nascent sector. Will the token set a new low?

SAND heading to $0.40 next?

SAND/USD Chart by TradingView

On the weekly chart, there is no clear bottom price for the Sandbox token. However, the area around $0.4, when SAND started to turn bullish, should remain of interest. That implies that SAND could fall by up to 30%. Nevertheless, looking at the candlestick price pattern, the bear market has been cooling.

When to buy SAND

Sandbox price is bearish and not attractive for a buy. Nonetheless, significant price declines are unlikely, and SAND could begin a reversal if the RSI hits the oversold levels. Still, the prevailing crypto sentiment should guide ascertaining a bullish reversal for the cryptocurrency.

Where to buy SAND 

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading, and spot trading.


Buy SAND with Binance today

KuCoin

Kucoin is a cryptocurrency exchange that offers over 200 cryptocurrencies.

Kucoin has a wide range of services, such as; built-in peer-to-peer exchange, spot and margin trading, bank-level security, and a wide range of accepted payment methods.

Users can benefit from a beginner-friendly interface and relatively low fees.


Buy SAND with KuCoin today

The post Sandbox SAND prediction as token hits a new low in the year appeared first on CoinJournal.

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