Sandbox (SAND) Token Undervalued? Analyst Forecasts Worth Rally to $2

• The weekly SAND/USD chart confirmed the 0.786 Fib stage might set off a 65.5% worth enhance.
• Shopping for momentum has change into weak however the Aroon indicator aligned with a bullish bias.
• A extremely bullish state of affairs might set off SAND’s worth within the $3 route.

The Sandbox (SAND), the blockchain-based digital world token, has not reached its full potential but, analyst Ali Martinez famous. Martinez posted this on X whereas attempting to defend his level that the crypto market has not but reached its high regardless of the latest worth jumps.

It’s Simply the Begin

For the analyst, SAND has not even hit the 0.786 Fibonacci stage, indicating that the token was very a lot undervalued 

The 0.786 Fibonacci stage is likely one of the strongest collection of ratios the indicator has. Subsequently, it serves as a main entry level. Coin Version noticed the weekly chart and noticed that the Fib stage was round $2. As such, SAND might hit $2 and use that as a stepping stone to hit greater costs in the long run.

At press time, SAND modified palms at $0.69, representing a 60.92% enhance within the final 30 days. With Martinez’s prediction, SAND’s worth might add one other 65.5% inside a brief interval.

SAND Targets a Fast Run to $1

In accordance with the 4-hour SAND/USD chart, bulls gathered on the $0.64 help which was shaped on March 6. Nevertheless, the potential rise to $2 may not be straightforward. This was as a result of there was an overhead resistance at $0.71.

Coin Version checked the Relative Power Index (RSI) and observed that the studying had dropped. This decline steered a weak spot within the bullish momentum. Ought to the studying proceed to lower, SAND’s worth would possibly slide as little as $0.60.

Regardless of the state of the RSI, the Aroon indicator revealed a unique story. As of this writing, the Aroon Up (orange) was 71.43%. The Aroon Down (blue), alternatively, was at 0%.

If the Aroon indicator stays this manner, and shopping for momentum will increase, SAND might rise past $1 inside the subsequent few weeks. 

Within the meantime, merchants would possibly have to be careful for SAND when the altcoin season is available in full pressure. In a extremely bullish state of affairs, the worth of the token would possibly rise as excessive as $3. Nevertheless, there may very well be a retracement within the build-up to the upside. 

If the momentum turns into bearish, SAND would possibly decline to $0.60. Ought to that occur, it may very well be a superb entry level for these seeking to maintain for the mid and long run.