sandbox (SAND/USD) fell nearly 5% on Monday, extending its losing streak in the bear market. The losses took the coin to a yearly low of $0.52 before recovering slightly. As it stands, the token of the Metaverse platform is under the control of the bears.
It is not only the sand that is under pressure. Metaverse companions feel the warmth of a very cool virtual reality space amid the long crypto winter. This year’s activity has been below average for a sector that was expected to see unprecedented growth.
Take the case of Horizon Worlds, the flagship metaverse for tech giant Meta. By October, reports indicated that Horizon had fewer than 200,000 monthly active users. Unless a miracle happens, META is unlikely to reach 500,000 MAUs by the end of the year, as initially estimated.
As for the low activity in the metaverse associated with the crypto winter, time will tell. At the moment, the Metaverse is just doing poorly. Sandbox tokens, therefore, have been in a bearish state for a long time due to fewer entities entering the nascent sector. Will the token set a new low?
SAND heading towards the next $0.40?
On the weekly chart, there is no clear bottom price for the Sandbox coin. However, the area around $0.4, when SAND started the uptrend, should remain of interest. This implies that sand can fall by up to 30%. Nevertheless, looking at the candlestick price pattern, the bears are cooling off.
when to buy sand
The price of sand is bearish and not attractive for a purchase, Nevertheless, a significant price decline is unlikely, and SAND could start to reverse if the RSI hits the oversold levels. Nevertheless, the prevailing crypto sentiment should detect a bullish reversal for the cryptocurrency.
where to buy sand
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