- If SAND holds above the ascending trendline, it could rally 27%; otherwise, it may crash in the future.
- Traders believe that the SAND price is unlikely to surpass the $0.3155 level.
The Sandbox [SAND] has been in a downtrend for several weeks and is now in the spotlight due to recent whale activity, which points to a potential dip ahead.
Amid this, investment firm Hashed dumped millions of SAND tokens, raising bearish concerns.
Whale dumped millions of SAND, price crash ahead?
Recently, a blockchain-based transaction tracker, Onchain Lens, made a post on X (Formerly Twitter) that Hashed has deposited 18.45 million SAND tokens worth $5.79 million to Binance.
This substantial deposit by such a player in the current market situation can cause selling pressure and a downside rally.
The post further reveals that this is not the only deposit Hashed has made. Over the past fifteen days, the firm has dumped a total of 36.9 million SAND tokens worth $12.13 million into Binance.
When connecting this dump to recent price action, it appears that Hashed might be responsible for the recent downside momentum, as SAND has recorded a 22% decline since the firm began dumping tokens.
Current price momentum
At press time, SAND was trading near $0.3096, reflecting a 0.70% dip in the past 24 hours.
During this period, trader and investor activity declined, leading to an 11% drop in trading volume compared to the previous day.
Despite this, traders have a bearish outlook, anticipating a further price drop, according to CoinGlass data.
At the time of writing, traders were over-leveraged at key levels—$0.297 (support) and $0.3155 (resistance)—with $685K in long positions and $1.06 million in short positions built at these levels.
Source: CoinGlass
This metric indicates that traders betting on the short side are dominating, as they believe the SAND price won’t surpass the $0.3155 level anytime soon.
SAND: Price action and key levels
According to AMBCrypto’s analysis, SAND has been in an uptrend for an extended period, during which it has received consistent support from an ascending trendline, preventing major breakdowns.
Source: TradingView
SAND is beginning an uptrend while following a recurring pattern—rallying, correcting, breaking out, and rallying again. This cycle has repeated twice since April 2025, as seen on the chart.
At press time, SAND was trading below a descending resistance line but holding above an ascending support.
If this pattern continues, another breakout rally could be on the horizon.
Based on recent price action and historical trends, if SAND maintains its position above the ascending trendline, it could see an upside momentum of over 27%, potentially reaching the next resistance level at $0.41.
