The post <a href="https://coinpedia.org/price-analysis/sand-price-pull-brings-a-dip-to-enter-from-the-books-should-you-buy/" rel="noopener noreferrer nofollow">SAND Price Pull Brings A Dip To Enter From The Books, Should You BUY?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
As the overall market slides down the bearish slope, the metaverse and gaming tokens are facing the heat. Amidst the increasing supply, the SAND price trend tests a crucial support element as it crashes under the 200-day EMA.
With a bearish pattern in play, the metaverse/gaming tokens display week price action and warn of losing the gains of last December. As the buyers grow desperate, Sandbox approaches a pivotal point with high reversal chances. Will this reversal spot bounce the altcoin higher, or is a bearish breakdown imminent?&nbsp;
Beyond this short-term struggle, find out what the possible long-term trend for Sandbox could be in our <a href="https://coinpedia.org/price-prediction/stacks-stx-price-prediction/" rel="noopener noreferrer nofollow">SAND price prediction</a>. Will the SAND price reach $10 in 2024?&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="483" src="https://image.coinpedia.org/wp-content/uploads/2024/01/24140513/image-129-1024x483.png" alt="" class="wp-image-263885" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/24140513/image-129-1024x483.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/24140513/image-129-300x142.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/24140513/image-129-768x362.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/24140513/image-129-1536x725.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/24140513/image-129-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/24140513/image-129.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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Source – <a href="https://www.tradingview.com/x/7KC7BHCL/" rel="noopener noreferrer nofollow">TradingView</a>
With the lower high formations in the SAND price trend, the altcoin faces a strong supply force, leading to the breakdown of multiple levels. During this crash, Sandbox forms a falling wedge pattern in the daily chart and tests the bottom support trendline.&nbsp;
With a 30% drop in the last 30 days, the altcoin has lost crucial levels like the 50-day and 200-day EMA and the $0.50 mark. Moreover, the Sandbox price has broken below the 50% Fibonacci retracement.&nbsp;
Currently, the SAND price trades at $0.443, with an intraday growth of 0.40% following the late-night crash of 2.44%. With the minimal growth, the reversal chances for the altcoin are rising back, teasing a positive cycle within the falling wedge.&nbsp;
Generally, the falling wedge pattern shows a bullish break for an upside rally, which projects a potential prolonging of the prevailing uptrend.&nbsp;
Technical Indicators:
RSI Indicator: The daily RSI line at 37.51% approaches the oversold zone and reflects a selling spree in motion.&nbsp;
<h2 class="wp-block-heading" id="h-is-the-sand-price-crashing-to-0-35">Is The SAND Price Crashing to $0.35?</h2>
With the SAND price losing critical levels and the bearish momentum on the go, the market reversal threat warns of a gloomy future. However, the price is still within the said pattern, and this projects a likely bullish reversal as the buyers might find a bouncepad.&nbsp;
However, the break below the support trendline, the downtrend can result in a downfall to $0.35.&nbsp;
On the upside, a bullish reversal can rechallenge the overhead resistance trendline and reach the $0.50 mark.&nbsp;

SAND Price Pull Brings A Dip To Enter From The Books, Should You BUY?

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