SAND has been on a growth path the last few weeks. Of course this was partly driven by Facebook its rebranding to META, pushing other metaverse coins to new highs as well. On top of that SAND has announced its long waited launch later this month (29th of Nov) for an exclusive group of people at first. This news, along with its strong set of partnerships is making SAND its price push almost instoppable. What is beautiful to see as well is that the positive sentiment around SAND makes it barely sensitive to the price movements of BTC.
On the chart you can see that it has passed the 0.618 fibo extension line and is now heading to the 1.618 followed by the 2.618. My guess is that it will reach the 1.618 today or tomorrow, after which a small retracement will follow. I dont expect it to go back all the way to its previous fibo line but that it will bounce back and make course to the 2.618 of $9.5 dollar. This will be the point where I will sell as I do expect a bigger retracement from that point.
After that happens I will look for another entry point on lower pice levels, as I believe that the metaverse coins are going to be super bullish in 2022 and beyond and are therefore a great investment.
appreciate your outlook on this coin. im long this project as well. looking forward to more breakdowns from you on this coin as we make our way up and down in the retrace in the bearish market and back up. I will be subscribing. happy trading!
JoshAMS
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@lo-fi_guy thanks for the appreciation. I will post further updates as the chart develops.
debbienguyen80
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thank you for your work.. will watch around 9ish sell and get back
lo-fi_guy
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hi. quick question. Are we seeing a possible head and shoulder forming on the 1h right now? it's 6:45 am. (u.s. west coast time )
JoshAMS
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@lo-fi_guy thought that too for a second but if you look on the 4h chart we actually see a bullflag. Will post an update in the coming hours.