Predicting SAND’s Reversal Upside

The Sandbox (SAND) cryptocurrency has broken out of its falling wedge pattern, indicating potential bullish momentum for the digital asset. With a 12.06% increase in price and a 126.45% surge in trading volume over the past 24 hours, traders and investors are showing renewed interest in SAND. This breakout could signify the start of a new upward phase for the altcoin, provided it receives sustained buying pressure to confirm its longer-term direction. Additionally, on-chain data from CryptoQuant shows an increase in active addresses and transaction count, suggesting rising interest in SAND’s fundamentals beyond speculation. Meanwhile, exchange reserves for SAND have dropped by 1.06% over the last 24 hours, possibly due to sellers moving their tokens off exchanges as they opt to hold their assets instead. Open interest for Sandbox has also climbed by 28.26% reaching $44.51 million, further supporting growing optimism surrounding sustained gains for SAND’s market cap.

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