For some reason, most people are interested in this particular SAND coin. Let's figure out what interesting things can await us there.
The project is a game on the blockchain. The game is terribly boring and at its core is just a metaverse with not much to do.
The hype about metaverses has long passed, but a check of site traffic showed that more than 500,000 users per day consistently visit the site of this game and this figure is growing monthly. This means that the demand for coins for purchasing in-game items is also logically growing.
📊 Technical analysis
Technically, the coin looks very attractive for purchases.
The price broke through the medium-term downtrend upward on high volume, which remains high to this day.
Locally, the price moves along an upward trend, which keeps the price from a full-fledged collapse. Also, the moving averages MA200d and MA20d run right along this trend line.
Indicators are in the strongly overbought zone, but the market is now ignoring this. Therefore, in the current market it is worth looking at the weekly timeframe indicators. There, the indicator has not even reached the average value yet, which means the upward margin remains high.
❌ There is no point in taking a coin with a stop, since it is 99% likely to be taken out. An example of such a takeaway can be seen on the chart on November 9. Then the price fell immediately by -19% and immediately returned back. There is a lot of liquidity under the local trend in the form of stops and margin liquidations.
Now the price is actively trying to break out the level based on the profile volume. Apparently, those who have been in a drawdown for a long time are now closing their positions. But when this level is broken, a very strong upward impulse will occur.
✔️ In general, the coin must be taken without a stop and, of course, without shoulders. Potential growth targets: $0.67 $0.86 $1.28
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