SAND Surges 10%: Can Bulls Reclaim $0.80 and $1.50?

The Sandbox (SAND) has recently broken out of a falling wedge pattern, a historically bullish indicator, signaling strong momentum. At the time of this report, SAND was trading at $0.3995, up 10.31% in the last 24 hours. This surge has attracted renewed interest, pushing the price toward critical resistance levels. However, the key question remains: can SAND maintain this momentum and reclaim $0.80 and $1.50?

SAND's breakout from the falling wedge pattern is a strong bullish indicator, historically leading to a sustained uptrend. The current rally suggests increased buying pressure. The first major resistance lies at $0.80, a level that has previously halted upward movements. If bulls break this zone, the next target is $1.50, where sellers may re-enter. However, price rallies are often met with corrections. Failure to hold above the breakout zone could trigger a pullback. If the price drops below $0.35, the bullish setup may weaken, forcing a retest of lower trendline support. Maintaining momentum above current levels is crucial for further gains.

Network activity provides insight into SAND's potential price action. Over the past seven days, new addresses have increased by 16.57%, while active addresses have jumped by 18.64%. This growth suggests more users are engaging with the network, often a bullish sign for future price movements. Additionally, zero-balance addresses have risen by 18.91%, indicating some users are cashing out.

A closer look at transaction data shows a 500% increase in $1M–$10M transactions, signaling strong interest from large investors. Additionally, transactions in the $100K–$1M range have surged 244.44%, reinforcing a bullish outlook. These shifts suggest that institutional players are accumulating SAND, often a sign of potential long-term price appreciation. Conversely, smaller transactions have declined, meaning retail traders may be hesitant to buy at current levels.

Exchange Reserves, a key metric for tracking available supply, have decreased by 1.56% to 484.32M SAND. This decline indicates fewer tokens are on exchanges, reducing selling pressure. Historically, such trends align with price recoveries