Sandbox (SAND) Breaks Key Resistance, Up 7% in 12 Hours

Sandbox (SAND) has recently broken through a key resistance level, marking a significant milestone for the cryptocurrency. The price of SAND, while still below $0.30, has shown promising signs of strength. According to a fresh analysis by World Of Charts, SAND has broken through its main descending resistance and closed above a crucial horizontal level. The token is now trading at around $0.2688, up more than 7% in the last 12 hours. The chart posted by @WorldOfCharts1 shows a clear breakout from both the diagonal trendline and the horizontal resistance that had capped SAND for weeks. That horizontal level around $0.25 acted as a stubborn barrier throughout June and early July. Now that SAND has closed above it with strong volume, the breakout appears valid.

World Of Charts noted that “$SAND has already broken a crucial area,” and added that they would be looking to add to their position on a possible retest of this breakout zone. This means the price could dip slightly to retest the old resistance around $0.25 before moving higher. If that retest holds as support, it may confirm the start of a much bigger rally. The breakout comes at a time when Bitcoin has hit new all-time highs, lifting overall market sentiment. As altcoins begin to respond, Sandbox appears to be one of the first movers. The structure shown in the chart suggests a strong shift from bearish to bullish, as the token exits a prolonged downtrend and forms a potential higher low.

Ali, another analyst following this setup, said SAND’s breakout is important. According to World of Charts, if this breakout holds and the retest is successful, SAND could be ready for new highs in this cycle. While the price is still below $0.30, a successful retest and continued strength from Bitcoin could fuel a move toward the next major resistance near $0.35 or even $0.40. The analyst’s projected curve on the chart shows a steep upward path, suggesting there’s a lot of room to climb. The Sandbox price has been lagging behind some of the top-performing altcoins, but this breakout changes the game. If the market continues to support bullish momentum and the retest confirms support, SAND could be on track for a major reversal.

SAND has broken above a key resistance area for the first time in weeks. The setup from World Of Charts shows this could be the beginning of a new bullish phase for the Sandbox price. If the token successfully retests the $0.25 level and holds, we could see a strong spike toward the $0.35 zone and beyond. For now, all eyes are on whether this breakout holds and whether SAND follows through on the potential it just unlocked. The successful retest of the resistance level is crucial for confirming the breakout. A retest involves the price returning to the resistance level and then bouncing back up, which serves as a validation of the breakout. If SAND manages to hold above the resistance level during the retest, it would signal strong buying pressure and further reinforce the bullish outlook. This could attract more investors to the cryptocurrency, leading to increased demand and a potential price pump.

The next major resistance level for SAND is near $0.35. If the cryptocurrency continues to gain momentum and breaks through this level, it could open the door for further price appreciation. However, it is important to note that the cryptocurrency market is highly unpredictable, and there are no guarantees that the price will continue to rise. Investors should exercise caution and conduct thorough research before making any investment decisions. In conclusion, the recent breakout of SAND from its key resistance level is a positive development for the cryptocurrency. A successful retest and continued strength from Bitcoin could fuel a move towards the next major resistance near $0.35. However, investors should remain vigilant and monitor market conditions closely to make informed investment decisions.