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The Sandbox maintaining a secure rally going forward, depends on this

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The Sandbox is an rapidly rising token and this week was no different. Despite the market bleeding for the last 11 days where Bitcoin lost over 16.1%, the Sandbox has been moving in the opposite direction. Even though this rally isn’t as high as 318%, which took place in early November, it is significantly more secure for investors.

Did the Sandbox bring a SANDstorm?

The Sandbox this week pushed against the broader market trends and registered an 87.79% rise. This made a huge impact on the investors and SAND even managed to cross the $4 mark yesterday.

The Sandbox price action | Source: TradingView – AMBCrypto

Interestingly, this rally is different since it isn’t born out of FOMO. The FOMO investors who bought in during the hype (around the then all-time high levels of $3.2) eventually faced losses during the 28% corrections that followed naturally.

However, since this week the Sandbox is charting growth organically, the chances of a 28% correction again and a network-wide capitulation seem slightly unlikely.

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The Sandbox profit/loss indicator returns to neutral | Source: Santiment

Are investors acting accordingly?

Well, SAND being a whale token (85% dominance over all of SAND’s supply) it is not surprising when whale transactions averaged this week at $40 million, with transactions peaking at $80 million yesterday.

The Sandbox’s whale transactions | Source: Santiment – AMBCrypto

But, since non-retail transactions (transactions worth more than $100k) only represent 88% of the $546 millions in volumes, the remaining 12% ($63 million) are still due to the movement of investors. Even so, for any new investors, the fear of whale dumping will always loom over their heads.

And, new investors will still likely join the network since social volumes and dominance are through the roof for the coin. Besides this, the network growth is also continuing to go up every day.

The Sandbox’s social presence | Source: Santiment – AMBCrypto

However, since its correlation to Bitcoin is still at negative 0.5, it will go down if BTC rises. So, investors can keep an eye on this indicator to find out when a price fall is incoming. Should this correlation rise towards 1.0, then expect SAND to will follow the broader market trend too.

The Sandbox’s correlation to Bitcoin | Source: Intotheblock – AMBCrypto

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Here’s What’s Next for Decentraland, The Sandbox and Elrond, According to Crypto Analyst Michaël van de Poppe

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Cryptocurrency analyst and trader Michaël van de Poppe is warning traders against buying Decentraland (MANA), The Sandbox (SAND) and Elrond (EGLD) at their current prices.

Van de Poppe tells his 148,000 YouTube subscribers that following the “epic runs” of these three altcoins, it’s time for investors to take profits in Decentraland, a virtual-world blockchain; Elrond, a scalable blockchain; and The Sandbox, a gaming platform.

“…if you are in those projects, I think the point has come to actually take profits, especially when it comes to MANA and SAND. Those have been running heavily. You have to take profits before a heavy correction starts to take place because at this point the downwards momentum might be heavier than the upwards momentum.”

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Looking at the Elrond/Bitcoin (EGLD/BTC) chart, the crypto analyst says that buying opportunities are gone until a correction adjusts prices to the 0.005 BTC ($291) and 0.006 BTC ($349.20) level.

At time of writing, Elrond is trading at $427 while Bitcoin is exchanging hands at $58,200.

“If you’re seeking for any trade opportunity right now, I think the opportunities are quite gone. But the [EGLD/BTC] chart itself says that every level gets a beautiful retest taking place here before it starts to continue.

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So I’m looking at any of these two levels [between 0.005 BTC and 0.006 BTC] to take any entry from, based on a daily time frame.”

Van de Poppe says he’s hoping to pick up SAND if it retraces down to about 0.00007 BTC ($4.07). The asset is trading at $7.27 at time of writing.

“So SAND, I’m not interested in trading this one at all. I’m going to look at anywhere in this region [below 0.00007 BTC] for any scalp opportunities.”

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Decentraland’s MANA is trading at $5.10 at time of writing. According to the crypto analyst, MANA could drop to around 0.000055 BTC ($3.20) where it could present opportunities for longer-term trades. He recommends looking for scalping opportunities if it starts trading below 0.00007 BTC ($4.07).

“You can start looking for scalp rates here [0.00007 BTC]. But more likely, we’re going to get into this region here [around 0.000055 BTC] where you want to take some trades.”

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Is Trend Reversal Near For, The Sandbox (SAND), Decentraland(MANA), & Enjin Coin(ENJ)!

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As the crypto space continues to embrace the evolution of distinct technologies, Metaverse has also engulfed massive traction of the mainstream audience. Interestingly, post-Facebook’s rebrand to Meta, the respective protocols have soared beyond expectations. Moreover, while the crypto market strives to escape from the bear trap, Meta tokens emerged as saviors of the crypto space. 

Notably, The Sandbox (SAND), Decentraland (MANA), and Enjin Coin (ENJ) soared by more than 450% post the trend reversal to meta. Yet the tokens have been trading at their peak of the bull cycle, correction in the short-term looks imminent. 

The Sandbox (SAND)

The Sandbox price has been a revolutionary project in the world of gaming. With the incredible surge in the trading volume of 28.54% round the clock, the price of the asset has reached a new ATH of $7.02 on 24th November. The asset has been clinching higher highs with short corrections of 5 to 8% prior to its every leg up. SAND price hasn’t yet undergone a trend reversal if it happens anytime from now, then its price would plummet to $3.35. 

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Decentraland (MANA)

A Decentraland price network has been built on the Ethereum blockchain. With an incredible surge of trading volume of 59.28% round the clock, the protocol has claimed an ATH of $5.31 on November 24th. The MANA price has maintained a slow and steady rise throughout the month. With healthy consolidations, the price has made a solid move. Though the price has not undergone a major pullback yet, the price would decline by more than 20 to 30% reaching crucial support around $3.6. 

Enjin Coin (ENJ)  

Enjin, a blockchain-based gaming firm looking strong for the past couple of days to overthrow SAND and MANA. With a more than 100% surge in trading volume, ENJ’s price has hit an ATH of $4.50 on November 24th. Unlike other chief Meta tokens, the protocol has shown positive volatility throughout the year. Hence, in case of a trend reversal, the price would drop to the immediate support of $3.2. 

Collectively, the aforementioned Metaverse tokens have been trading at their peak of the bull cycle. However, it’s been a while they haven’t undergone a requisite correction yet. In case of a trend reversal, the tokens would experience a correction of 10 to 15% for a longer period. Hence, before investing in projects at their ATH, it is mandatory to do a thorough research of the asset.

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Decentraland (MANA) & The SandBox (SAND) Price Chasing Each Other To Hit $10!

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Decentraland & The SandBox carry on with their bullish trend that began almost a month before. Both the NFT’s had a monstrous rally of more than 600% and 1000% respectively which appears to be unstoppable currently. The MANA price & SAND price seem to be in a race against each other aiming at a double-digit target somewhere in the Q1 of 2022. 

Decentraland (MANA) Price May Hit $25

Decentraland emerged from a thin space and outperformed well-established NFT’s like Theta, Tezos, Enjin Coin, Chiliz, etc. MANA price after being calm for more than a couple of years got a major push during the bull run 2021. The price rose viciously to hit highs somewhere around $1.6.

The second bull run came out to be more aggressive and accumulated more than 600% gains within a month. Yet the rally is expected to continue with more strength in order to hit $10 very soon. However, the upcoming rally may also include a notable plunge again back to $3-$4 levels as per one of the analysts.

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Despite the correction, the analyst is still bullish on the asset and expects a huge flip to higher levels. Considering the 2020 lows as the support for the FIB levels, the current price is hovering around 4.9 levels. The analysts believe the asset may range high to the next FIB level at 28 which lies around $25 to $32. Therefore, Decentraland is pretty bullish considering a longer and higher time frame. 

The SandBox(SAND) Price Could Still Be A Good Buy!

The SandBox like MANA maintained a substantial upward trajectory since the beginning of 2021. However, the spike which hit the SAND price since the beginning of November was pretty unexpected. The asset’s bull run of more than 1000% caught everyone’s attention and hence the rally does not appear to face a pullback or correction until the end of the month. 

The SAND price is $8.19 after smashing the new ATH at $8.32 with a jump of nearly 20% in the early hours of trade. Despite surging constantly for a week, the asset may get a little exhausted and hover around $5.5-$6. However, the pullback may be short-lived which will be overcome by a gigantic leap beyond $10. 

Collectively, Decentraland & The SandBox are completely focusing on a huge upward trajectory, nullifying the possibilities of a pullback. However, the possibilities are still alive as the assets usually tend to exhaust after reaching some milestones. And hence despite minor corrections, MANA price & SAND price appear to be pre-programmed to smash a 2-digit figure soon. 

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