Big Opportunity for entry at Altcoins🚀🚀
This is one of my Altcoins Watchlist
The current SAND position is still quite ideal for monitoring & accumulation.
SAND has great potential to strengthen if it enters the Altcoins seasons era
I refer to Technical Analysis (Eliott Wave Theory)
Currently SAND is in the phase towards Impulse Wave 3, after the Wave 2 correction which is at the 0.5% Fibonacci Retracement
If we look for areas that have the potential to visit SAND for strengthening, you can look for it by using the Fibonacci Extension drawn from Lower to Swing High Wave 1, then drag it down to Lower Wave 2. Then you will get the Fibonacci Extension level:
🚀1,272 = in Price Range $1.3
🚀1,618 = in Price Range $1.7
Apart from that, you can also look for potential strengthening simply by using the Fibonacci Retracement drawn from the ATH - to the Lower Correction, then you will get a potential key Resistance level by visiting SAND, namely at:
🚀Fibo Retrace 0.382 = in Price Range $1
🚀Fibo Retrace 0.5 = in Price Range $1.4
🚀Fibo Retrace 0.618 = in Price Range $2.1
For Now, we focus on the highest and closest probability first which is possible to visit SAND, namely at Fibonacci Retracement 0.382 (Price Range $1).
If you are able to break out from $1, then the next strengthening will be at the Strong Resistance Price Range $1.3 - $1.7. Where in this area there is Confluence Resistance between Fibonacci Extension and Fibonacci Retracement.
Apart from that, according to Eliott Wave Theory, strengthening in Wave 3 could range up to 1,618 with the highest probability.
So, compared to the risk, SAND is good enough to be considered on your Altcoins Watchlist. Plus the fundamentals are quite supportive too.
