Can $SAND Reach $1?

The Sandbox recently hit a yearly high of $0.86, but a

14% pullback has left it trading at $0.76. On-chain data and

technical analysis suggest that the $1 target may not be

imminent.

Key Challenges

1/ Selling Pressure:

*/ Dormant tokens are being sold, with the age-consumed metric spiking to a two-month high of 33.19 billion (Santiment).

*/ Exchange Flow Balance rose 162% in 24hours, indicating more tokens are heading to exchanges for potential selling.

2/ Overbought Signals:

*/ The RSI is at 87.18, well above the overbought threshold of

70, hinting at a possible downturn.

Downside Risks

If selling persists, SAND could drop to $0.72, or even test

support at $0.61, far below the $1 target.

Path to Recovery

Easing selling pressure is crucial. If achieved, SAND might

reclaim its $0.86 high and test new resistance levels. Until then, caution is advised as indicators lean bearish.

#SANDBULLISH #GAINERS #SAND🔥🔥🔥 #Sandbox #Write2Earn!