Sandbox is an Ethereum-based decentralised NFT gaming metaverse that enables non-tech based users to create, sell, use, and monetise their own virtual reality NFTs. The crypto metaverse uses its native token SAND to underpin the entirety of the in-game economy.
SAND/USD Daily Chart – 1st April 2022
We completed our first impulse cycle when the price reached it’s maturity of $8.49 around November 2021. Ever since then is has been very sloppy and choppy, this is all correction prior to the next advance.
Non Elliott Wave theorist have been misle on when SAND will continue to. Especially the move we witnessed between 22nd January 2022 to 9th February 2022. But as you can see this was a 3-wave sequence, therefore still within the corrective cycle.
Now, according to my count, we are playing within the ((Y)) to complete the double correction.
Until I see a 5-wave sequence to the upside, I am convinced we will be within this corrective and a good chance we may see another push to the down to at least $1. This would then complete the double correction, wave ((Y)).
Long term future
There are speculations that the token can reach around $12 this year and by 2026 it can reach all the way to $28. The reasons behind this is because the game is very similar to Minecraft, therefore, a lot of players from Minecraft may switch over to Sandbox.
Source: SAND/USD - Future of Sandbox