Despite being in a correction, the SAND/USDT pair may soon get a boost from the latest partnership agreement that The Sandbox has entered into. There are hopes that the partnership between The Sandbox and a host of entities from Hong Kong could boost bullish Sand price predictions.
The partnerships will culminate in building a new Mega City in the metaverse. The Sandbox details that those part of the new partnership include Adrian Cheng, Executive Director of Chow Tai Fook (a jewellery firm) and founder of the K11 brand, along with a host of other companies with visible footprints in the entertainment world.
The Sandbox plans a land sale on 13 January to celebrate this partnership. The sale also kickstarts the process by which members of the public can acquire virtual land close to those of the Mega City partners.
The daily chart reveals that the recent downturn in the SAND/USDT is the measured move that followed the breakdown of the small bearish flag. This move has broken the 5.7016 support en route to the completion point at the 5.2656 support line. If the price deterioration below this level continues, 4.6542 and 4.0033 become the additional targets to the south.
On the other hand, the bulls need to see a bounce which takes the price action above the resistance zone at 6.7315/6.9464. Above this level, the 3 December 2021 high at 7.2455 becomes the next benchmark before the psychological barrier at 8.0019 comes into focus.
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This post was last modified on %s = human-readable time difference 17:34