Where will Sandbox Peak?
Since its inception, Sandbox's (SAND) price has moved in a bullish Elliott Wave sequence. Right now, we have reached uncharted technical territory, which is making it harder to find a possible peak for the current rally. Nonetheless, you can find our predictions below!
Elliott Wave Analysis
We can count the first wave completed at the $0.094 high. From there, the correction that followed ended at the $0.028 low, which was wave II. The subsequent rally in wave III ended with the $0.90 high, followed by a correction in wave IV that ended with the $0.14 low. The last rally that started from the $0.14 low can be broken into 5 waves of smaller degrees as it appears that the last wave V is extended.
Based on the stochastic oscillator, we haven't reached overbought readings despite the strong bullish momentum, which means that we still have more upside.
For wave 5, an optimistic target stands at $11.48, which is the 461% Fibonacci extension of wave I and wave III combined against the low of wave IV. While this may sound like a lot, it is less than a 300% growth from the current price. Considering that SAND grew 37,185% in about a year and a half, this target doesn't sound very unrealistic.
Looking Ahead: If this target is hit, it will probably happen around late December or early January, when most altcoins are likely to peak.
Elliott Wave Analysis
We can count the first wave completed at the $0.094 high. From there, the correction that followed ended at the $0.028 low, which was wave II. The subsequent rally in wave III ended with the $0.90 high, followed by a correction in wave IV that ended with the $0.14 low. The last rally that started from the $0.14 low can be broken into 5 waves of smaller degrees as it appears that the last wave V is extended.
Based on the stochastic oscillator, we haven't reached overbought readings despite the strong bullish momentum, which means that we still have more upside.
For wave 5, an optimistic target stands at $11.48, which is the 461% Fibonacci extension of wave I and wave III combined against the low of wave IV. While this may sound like a lot, it is less than a 300% growth from the current price. Considering that SAND grew 37,185% in about a year and a half, this target doesn't sound very unrealistic.
Looking Ahead: If this target is hit, it will probably happen around late December or early January, when most altcoins are likely to peak.
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