The Sandbox has emerged as one of the top-performing cryptos, surging nearly 80% as trading activity picked up sharply. The rally followed Upbit and Bitthumb removing their trading caution designations for SAND, easing concerns that had weighed on the token since the August bridge-related incident.
The SAND price has risen above $0.08 during the surge, with a substantial spike in spot and futures volume. But with such a quick move higher, the main question is whether buyers can sustain the breakout or whether surging speculative activity could trigger a drop.
The popular NFT token, the Sandbox, has broken out of the key $0.065 to $0.068 resistance zone after several months of consolidating below it. The daily chart shows a sharp increase in buying volume as the token broke through resistance, pushing the SAND price toward $0.08 and changing its short-term market structure.
The breakout is also accompanied by a sharp rise in open interest, which has climbed to around $442 million. At the same time, the aggregate funding rate has turned deeply negative, suggesting that short positioning has increased as the price moved higher. If SAND continues to hold above $0.068, the next major resistance area sits around $0.09 to $0.10. However, a failure to hold the breakout zone could bring SAND back toward the previous consolidation range.
The Sandbox price has entered the month of October with a sharp breakout, supported by the removal of trading caution designations on major South Korean exchanges and a significant increase in trading activity. For this month, the $0.09 to $0.10 zone can be the first major upside target if the SAND price holds above $0.08. A decisive move through $0.10 could bring $0.12 into focus, while a failure could expose the rally towards the lower support range between $0.055 and $0.060.
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