SAND Investment Analysis 07-09-2021 by TheSocialCryptoClub

Good evening everyone!

We present an analysis on the SAND asset.

Fundamentals:

For those who don't know, SAND is a token related to the world of NFT Gaming and will be used to buy and sell items, land and more in the SandBox Game metaverse.

The gaming industry was one of the few that held up very well during the corona crisis, and the rise of play to earn games is totally changing the gaming paradigm around the world.

SandBox is a very interesting project, with a solid structure behind it, a populous universe of gamers, game makers and asset creators since before the project was launched.

As seen with Axie Infinity (AXS) this could be a great medium to long term investment opportunity.

The long term outlook remains always bullish even in view of the release of the game, of which many major players in the crypto world, for example Binance, ATARI, Square Enix, have already purchased multiple lots of land in order to create levels of the metaverse and consequently have a return linked to the amount of players who will play it.

Technical Analysis:

As we can see the token has suffered, like the rest of the sector, a steep decline due to the May dump.

Recovering thanks to the news on the game, we can see that a definite ascending channel was formed with the formation of a triangle that was broken towards new highs.

Currently we are in price discovery and it is not advisable to start an accumulation plan, but as visible from the volumetric profile, it is possible to identify a new POC in formation.

Below it there is a strong volumetric gap that could lead the price towards the retest at the base of the channel coinciding with the break out levels of the triangle.

If this does not hold we could return to the levels of the previous poc.

Also the CryptoFall indicator confirms that these levels are important for the price right in the area between 0.382 and 0.618.

This area could be interesting for a series of equidistant orders of small equal amount to make a well dosed accumulation plan on the depth of an eventual retracement.

Thanks for your attention and happy to support the TradingView community!

Trade active:

The large downward movement created by the shorts to try to liquidate the Long positions of those who had followed the El Salvador news, covered exactly the whole range identified to accumulate.

The choice to accumulate on this Asset, is also the high APY that platforms return for stacking (up to 20%).

As anticipated, the spike has touched exactly the bottom of the ascending channel and going to rest on the PoC, coinciding with the 0.618 level of CryptoFall.

Thanks for your attention and happy to support the TradingView community.

Comment:

We are exactly at the bottom of the ascending channel now, if it doesn't hold the price could fall towards the bottom of the area identified for accumulation, at the PoC.
If it holds we could expect a rebound and keep the trend inside the channel, pointing to the median of the same.