Recently, the blockchain gaming market has seen a significant rise, with established projects like $SAND, $MANA, and $AXS all climbing, and the sector rotation effect is evident. However, after three years of reshuffling, the sustainability of this sector is still worth paying attention to.
Taking the cryptocurrency $SAND, which has experienced the largest increase recently, as an example, it underwent a 149-day adjustment since its peak in March, and then it broke through the daily resistance line for the first time. During the subsequent pullback, it did not fall below the daily trend, shaking off weak hands, and then began to rise sharply.
In just four days, it made up for the losses of the previous 149 days. In this situation, retail investors do not hold many chips, mainly because the big players started to accumulate and then lifted the price. As retail investors see the rise and chase the price, it is currently just one step away from breaking through at the weekly level. If it can stabilize above 0.82, it is expected to rise above 3 dollars.
