- SAND has entered the “depression” phase of the market psychology cycle.
- At this phase, the market sees low price action and bearish market sentiment.
- Recent price movements suggest that the predicted price growth might be happening already.
The price of SAND, the token that powers the metaverse-based game, The SandBox, might be near its bottom and ready for an upward correction, analyst Ali Martinez noted in a recent post on X (formerly Twitter).
SAND Potentially
According to Martinez, the token’s price is in the “depression” phase of the typical market psychology cycle. An asset is said to be in this phase when it witnesses an extended period of low prices and low investor sentiment.
Furthermore, Martinez added that this presents a buying opportunity for investors, as the altcoin might be poised for a rally.
Is the Rally Underway Already?
An assessment of SAND’s price performance in the last month suggested that the predicted price uptrend might be underway already.
Exchanging hands at $0.6054 at press time, the token’s price has grown by 40% in the last month. Moreover, data showed that SAND’s value has increased by 29% in the la…
The post SAND Potentially Reaching Bottom, Analyst Hint at Future Upswing appeared first on Coin Edition.