- Hashed deposited 36.9 million sand to Binance, and added a persistent sale of sale to the sale
- 74.77% of the holders were loss at the time of the press, which weakens the upward recovery potential of Sand
Hashed is in the news today after it has deposited more than 36.9 million Sandbox [SAND]worth $ 12.13 million, in Binance in the last 15 days. The most recent transaction, which was valued 18.45 million sand with a value of $ 5.79 million, took place one hour before the time.
When a major player initiates a series of transactions of such a nature, it can tempt a intention to load holdings to the market. However, that is not all like WHile It could also indicate portfolio in balance, the timing of these deposits during price weakness could express some worries.
Simply put, persistent whale activity can be a sign of bearish pressure. Significant volatility could also be for sand.
Can the $ 0.29 – $ 0.30 support zone continue to keep the decline of Sand?
Sand has been bounced several times from the demand zone from $ 0.29 to $ 0.30, which forms an important support region in the charts. Despite these rebounds, however, token continued to register the lower highlights – a sign of decreasing bullish momentum.
In fact, the prize recently fell near this zone again, followed by a shallow strout to $ 0.312. This price action revealed the hesitation and increasing vulnerability.
Therefore, if this level breaks, sellers can get control and push sand to new monthly lows. The price structure of the press also seemed vulnerable, especially in the midst of growing whaling deposits.
Source: TradingView
Will Sand’s underwater holders activate resistance during any attempt to gather?
Intotheblock data revealed that 74.77% of all sand holders can be out of money and have positions above the time price of $ 0.311.
This was approximately 2.24 billion sand with non -realized losses. Only 18.75% of the addresses seemed to be profitable at the time of the press.
This has created a layered wall of potential sales pressure above, especially because holders can leave positions near Breakeven.
That is why every price rally is confronted with a high risk of being rejected because of the consistent winning of imprisoned participants. This overhang can limit the Bullish Momentum, unless the new demand for the charts emerges.
Source: Intotheblock
Is falling user activity a red flag for price recovery?
Daily active address statistics have also continued to fall, with active users falling by 8.86% in the past week and new addresses are falling.
This falloff in participation can imply a reduced network demand and a weak market interest in sand. Historically, rising user activity has supported price growth.
However, the time data of the press gave a delay in both speculation and usefulness, making Bullish recovery less sustainable.
Source: Intotheblock
Can short liquidations above $ 0.32 spark volatility?
According to the Binance liquidation heat map, there can be a dense cluster of short stop orders above the level of $ 0.32. If sand pushes higher and activates these positions, a short squeeze can reinforce profit.
The path to that level, however, remains uncertain, especially because Bearish weighs pressure from whales on the market.
In addition, weak network participation and loss of holders can reduce the chance of a clean outbreak.
Source: Coinglass
Thanks to consistent whale inflow, decreasing network activity and most holders in losses, Zand is currently under pressure.
Although the support of $ 0.29 – $ 0.30 can be for the time being, these Bearish signals suggested that a breakdown is more likely than an outbreak.