Ali, a well-known trader and technical analysis expert on Twitter, has recently turned his attention to the cryptocurrency Sandbox ($SAND). He believes its current positioning in the market is noteworthy and has shared his insights in a detailed thread.
Ali sees promising signs at $SAND’s current levels. So much so that he has decided to increase his holdings in $SAND. He cites its strong upside potential as the primary reason for this decision and mentions that he’s poised to invest more if the price experiences a dip.
However, as with any investment, Ali emphasizes the importance of being aware of potential risks. He urges his followers to always assess the potential downsides and to be prepared for any market fluctuations.
A significant observation Ali made is the movement of about 82 million $SAND tokens to known crypto exchange wallets. This trend could be an indication that some holders of #SAND are gearing up to sell their holdings.
Furthermore, Ali points out an upcoming event that could impact the market. On Monday, August 14, a substantial amount of 332 million $SAND tokens, equivalent to approximately $133 million, will be unlocked. These tokens will then be available for trading in the open market.
Drawing on basic economic principles, Ali reminds his followers that if the supply of a commodity, in this case, $SAND, increases while demand remains constant, its price can decrease. However, he views a potential drop in #SAND’s price as an opportunity. If the price does dip, Ali is ready to add more to his holdings, reiterating his belief in its growth potential.
As of the latest update, the market status for $SAND shows it trading at $0.39, with a 2% decrease in price over the past 24 hours.
You can check our SAND price prediction here.
Ali’s analysis offers a comprehensive look into the potential future movements of $SAND. As always, investors are encouraged to conduct their research and consult with financial experts before making any investment decisions.
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