Whale of a Tale: SAND’s $5.7M Dive into the Abyss! 🐋💸

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  • Should SAND cling to its ascending trendline like a cat to a warm lap, a 27% rally may ensue; otherwise, brace for a nosedive!
  • Traders, with their crystal balls, predict that SAND’s price will likely not breach the $0.3155 fortress.

Ah, the Sandbox [SAND], a digital playground now caught in a tempest of despair, has been languishing in a downtrend for weeks, its fortunes now entwined with the capricious whims of whale activity, hinting at a potential plunge ahead. 🐳

In a dramatic twist, the investment firm Hashed has unleashed a torrent of SAND tokens, sending bearish ripples through the market. Who knew that a whale could be so… generous?

Whale dumped millions of SAND, price crash ahead?

Recently, a blockchain oracle, Onchain Lens, revealed on X (formerly Twitter, because who needs consistency?) that Hashed has deposited a staggering 18.45 million SAND tokens, worth a jaw-dropping $5.79 million, into the depths of Binance. 🏦

This hefty deposit from such a market player could unleash a wave of selling pressure, leading to a delightful downside rally. Oh, the irony!

But wait, there’s more! This isn’t Hashed’s first rodeo; over the past fifteen days, they have dumped a total of 36.9 million SAND tokens, worth a staggering $12.13 million, into Binance. Talk about a fire sale!

Connecting the dots, it seems Hashed might just be the puppeteer behind SAND’s recent 22% decline. Bravo, dear whale, bravo!

Current price momentum

As of this very moment, SAND is trading at approximately $0.3096, reflecting a modest 0.70% dip in the past 24 hours. A round of applause for consistency!

During this period, trader and investor activity has taken a nosedive, leading to an 11% drop in trading volume compared to the previous day. A true spectacle of market drama!

Despite the gloom, traders are donning their bearish hats, anticipating further price drops, as per the ever-reliable CoinGlass data. 🥳

At the time of writing, traders are over-leveraged at key levels—$0.297 (support) and $0.3155 (resistance)—with $685K in long positions and a whopping $1.06 million in short positions. A thrilling game of financial chicken!

This metric suggests that the short-sellers are ruling the roost, convinced that SAND’s price won’t breach the $0.3155 threshold anytime soon. How quaint!

SAND: Price action and key levels

According to the sage analysis of AMBCrypto, SAND has been on a prolonged uptrend, receiving steadfast support from an ascending trendline, preventing any major breakdowns. A true testament to resilience!

SAND is embarking on an uptrend, following a delightful pattern of rallying, correcting, breaking out, and rallying again. This cycle has repeated twice since April 2025, as the chart so eloquently illustrates.

As we speak, SAND is trading below a descending resistance line but valiantly holding above an ascending support. A classic tale of struggle!

If this pattern persists, another breakout rally could be lurking just around the corner. Fingers crossed! 🤞

Should SAND maintain its position above the ascending trendline, it could very well see an upside momentum of over 27%, potentially reaching the next resistance level at $0.41. A fairy tale ending, perhaps?

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2025-05-27 17:47