Should you buy Sandbox SAND at the $1.03 support?

• Sandbox failed a escape at $1.3 and has retraced to a help

• Worth weak spot emanates from the final crypto temper and lack of Sandbox developments

• SAND stays susceptible except potential value catalysts come up

Sandbox token SAND/USD regarded prone to take new heights as the worth hovered round $1.3. Worth consolidated on the resistance stage for weeks, however neither bulls nor bears appeared to win the battle. Since most different cryptocurrencies have been surging, that gave hope that bulls would finally triumph. Bears appear to have taken management as the worth has dipped to $1.03. That could be a potential demand zone however will patrons push the token larger?

Sandbox doesn’t look promising on the present stage. First, Sandbox has relied on the momentum of the crypto sector these days. The momentum is at the moment weak. Earlier than the sentiment improves, SAND might weaken additional. Secondly, initiatives constructing on the metaverse has slowed these days. Though a fantastic alternative exists for the metaverse sector, buyers are keen on present developments. The shortage of clear fundamentals from the metaverse sector could possibly be a blow to the short-term recoveries of SAND.

Sandbox token slides to $1.03 help in a bear market

Supply – TradingView

Technically, Sandbox is bearish. The momentum indicator reveals that the worth is extraordinarily bearish on the key help of $1.03. No value motion to indicate that the worth is about to get well on the help. Consequently, SAND is susceptible if momentum fails to enhance rapidly. Buyers shouldn’t purchase the token on the help however ought to watch value motion and basic sector temper. If SAND loses the $1.03 help, the token might slide to $0.85.

Abstract

Sandbox token stays susceptible on the $1.03 help. The shortage of clear fundamentals and momentum is a catalyst for additional bear weak spot.