I GUESS IT IS QUICKSAND? - METAVERSEIt's been a while since our last idea.
We're looking at SAND/USDT today.
In our previous SAND analysis, we predicted a drop down to these current levels and potentially further down, and we've been spot on so far as shown below:
Question is will we drop further down?
Well, as you can see from today's analysis in the chart above, SAND is currently trading at strong support zone, also in line with the bottom of the ascending channel. Should we close below this, a drop down to the blue zone is very much likely with 0.9 being our worst case scenario(provided the First Wave Extension Scenario confirms).
In our last update we also showed that price action was forming a bullish pennant, but failed to get anything out of it. Now this support region is the last go for the bulls to make a comeback.
Whilst we should average down at this level, we want to see a drop further down to preferably 1.5-1.2 region for large buys.
When we see price trading within the purple zone, we will have confirmation of a breakout and ATH's imminent as seen in past price action.
June 15 & July 7 dates are potential dates to watch for a bottom or for price to enter the purple consolidation zone depending on how the market responds.(Don't depend on the dates)
If you agree pls like and share and comment your thoughts below.
Feedback is always appreciated!😉
