Sandbox (SAND) price has been seeing some upsides with more than 50% increase in the past 2 weeks. The crypto is looking stronger daily, giving hopes of continued upside.
ZAYK Charts, a crypto page on X known for its chart analysis, just shared insights on the current price movements of Sandbox (SAND).
With the price currently at $0.35, the analyst has identified a falling wedge formation on the weekly chart, suggesting a significant potential for a breakout that could elevate the price to $3.50, a 1000% increase.
The analyst’s chart shows the falling wedge pattern that has developed over the years. This pattern is given by a series of lower highs and lower lows since the asset’s peak in late 2021.
The price action is moving towards the upper trendline of the wedge, and a breakout above this line could change from bearish to bullish.
This analysis from ZAYK Charts stated that if the breakout materializes as anticipated, the implications for SAND could be significant, potentially leading to a remarkable price surge in the near term.
