SAND has formed a year-long cup and handle pattern. Traditionally, this pattern is a bullish indicator of continued upward movement. The cup and handle have played out perfectly, and we are getting further confirmation by going back upwards to retest the resistance in this pattern.
If this resistance is broken, I expect a 57% increase in the price of SAND in the short term, which would put the price above $1 (~$1.085). This is potentially a great entry to a long or large spot position before a swift upward movement.
The altcoin market cap, including ETH (
TOTAL2
), is already front-running the altcoin market cap, excluding ETH (
TOTAL3
). This is another bullish indicator that the alt coin market may be ready for another leg up, helping out patterns play out.
I am personally adding to a spot position here, but if I were going to wait too long, I would wait for confirmation of the breakout above the resistance by 5–10%.
DYOR and bring home those gains.
If this resistance is broken, I expect a 57% increase in the price of SAND in the short term, which would put the price above $1 (~$1.085). This is potentially a great entry to a long or large spot position before a swift upward movement.
The altcoin market cap, including ETH (
TOTAL2
), is already front-running the altcoin market cap, excluding ETH (
TOTAL3
). This is another bullish indicator that the alt coin market may be ready for another leg up, helping out patterns play out. I am personally adding to a spot position here, but if I were going to wait too long, I would wait for confirmation of the breakout above the resistance by 5–10%.
DYOR and bring home those gains.
Comment:
SAND is breaking out of its resistance and touched 0.76, up over 10% on the day.
