Sandbox (SAND) Prints Bullish Double Bottom—$0.42 Breakout Imminent?

The metaverse token flashes a classic reversal pattern as traders bet on a rally.

Double Bottom or Double Trouble?

Sandbox’s chart just formed two distinct troughs near identical support levels—a textbook double bottom. If bulls conquer the $0.42 neckline, technicals suggest a 20%+ upside. But with metaverse hype cycles shorter than a TikTok trend, skeptics whisper: ‘Remember when virtual land was the next big thing?’

Volume Tells the Tale

Watch for confirming volume on the breakout. No pump without participation—just ask the bagholders of 2023’s ‘metaverse ETF’ debacle.

Key technical points:

• Double Bottom Formation: Classic bullish reversal pattern forming near high time frame support at $0.22
• Reclaim of Point of Control: Strong volume node now acting as support after multiple candle closes above
• Next Resistance at $0.42: Break and hold above this level could lead to a fast move toward $0.60

Sandbox’s price action has shifted into a more bullish tone after reclaiming the point of control, which sits in the middle of the recent trading range. This level, representing the highest concentration of trading volume, now acts as strong support. Multiple candle closes above the point of control suggest growing buyer conviction and potential momentum for further gains.

The structure forming at current levels resembles a double bottom, a bullish chart pattern often seen at the end of a downtrend. If this formation plays out fully, it will invalidate the previous bearish structure and reinforce a shift into bullish continuation. However, the breakout confirmation will come once Sandbox convincingly reclaims the $0.42 resistance level.

Above $0.42, the price faces little immediate resistance. A MOVE to the $0.60 region, where the 0.618 Fibonacci level aligns with the value area high, could follow quickly if momentum holds. That area is expected to act as the next significant resistance if buyers maintain control.

Volume remains a crucial confirming factor. Sustained or increasing buy-side volume is necessary to validate this structure and ensure the momentum carries through resistance levels. Without this, the move risks fading or stalling at the next barrier.

What to expect

As long as Sandbox holds above the point of control and continues to print higher lows, the bullish double bottom formation remains valid. A reclaim of $0.42 resistance would open the door to a swift expansion toward $0.60, supported by strong market structure and minimal resistance in that region.