SAND (The Sandbox) forecast for 2024 year

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SAND (The Sandbox) forecast

Fundamental analysis and news of SAND (The Sandbox)
The way I see it, The Sandbox (SAND) is an innovative blockchain platform that allows users to create, own, and monetise their virtual worlds using NFTs. The project has gained popularity due to its ability to combine gaming and cryptocurrency, making it attractive to investors and gamers alike. The Sandbox provides users with tools for creating and editing virtual worlds without the need for programming, which significantly expands the project’s audience.

According to CoinMarketCap, SAND is among the top 100 cryptocurrencies, ranking 92nd with a market capitalisation of about $700 million. The project is actively developing, constantly adding new features and expanding opportunities for users. Over the past month, new game worlds have been opened, a music festival for LAND owners has been held, and major contests have been organised. This confirms the platform’s activity and readiness to attract new users.

The Sandbox offers a wide range of monetisation opportunities, including owning unique NFTs and creating digital content. One of the main advantages of the project is the ability to create virtual worlds without programming, which allows attracting a wide audience. However, the project also faces high competition in the virtual worlds and blockchain games market.

Technical analytics of SAND (The Sandbox)

Analysing the technical indicators of SAND, you can see that on the monthly timeframe, each candle represents one month. In 2021, The Sandbox peaked during the alt-season, but then the price began to decline gradually. Currently, SAND is in the red zone of the Fibonacci grid, which indicates an accumulation phase.

The weekly chart shows that the price of SAND is in the lower positions of the middle zone, which can potentially yield up to 10 or even 20 Xs in case of investor interest. Past lows and further growth indicate the possibility of a repeat of the last alt-season.

On the daily chart, moving average indicators show a downward trend, which indicates a sell-off. However, the stochastic oscillator is already heading upwards from the underbought zone, which may indicate a possible rise. General technical indicators also show that a trend reversal may occur.

The divergence indicator shows no change in the trend, but the upward direction from the underbought zone indicates a potential upside. The MACD is already showing a green dot for a trend change, and the CCI indicator is completing the accumulation zone and may go up. So, there may be attractive places to buy now.

Bitcoin forecast, BTC (Bitcoin)

As for bitcoin, it is currently within the range of $65-72 thousand. The latest news from America has affected the rate, and now bitcoin is consolidating near the lower level of this corridor. Large investors and funds are actively buying bitcoin, which supports its price. A breakthrough of $72,000 could open the way to a rapid rise to $85,000.

Technical indicators show that bitcoin has the potential to grow, but you should be careful. Investors are advised to follow the news and analyse market trends to make informed investment decisions. Oscillators show that now may be a good time to enter the market, but you need to be prepared for possible fluctuations.

On the daily chart, indicators show that bitcoin may remain within the current corridor, with a possible breakout to $72,000 on the back of positive news. A breakout of this mark will open the way for rapid growth to $85,000.

Sandbox

Thus, The Sandbox (SAND) is a promising project that uses blockchain to create and monetise virtual worlds. Technical analysis shows that current prices can be attractive for accumulation, and news and community support can contribute to the growth of the rate. Investors should pay attention to technical indicators and follow the news to make informed investment decisions.

As for bitcoin, it is in the range of $65-72,000, and the upcoming news from America may affect its rate. A breakthrough of $72,000 will open the way for rapid growth to $85,000. Always remember that investment decisions are up to you. I wish you successful crypto trading and investments! Write your thoughts in the comments, subscribe to the channel, and like it. Do not forget to donate to the Armed Forces of Ukraine and support our veterans and internally displaced persons. This was Victor, see you in the next video!
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