You Missed The First $SAND Pump... But The Data Says Another Move Could Be Coming 🚨
First, derivatives.
OI is around 326.5M SAND (~$22.5M) and has risen with price, meaning fresh leverage is coming back. Funding is still around -0.20%, so shorts are paying while price moves higher. L/S is long-biased around 1.34-1.38, and short liquidations are much higher than longs: 82.9K vs 4.1K.
The liquidation map is also interesting. Across 12H, 24H and 48H, we have heavy liquidity around $0.0745-$0.0757, with the bigger magnet at $0.0776.
But here's what makes me cautious 👇
CVD is still weak. Futures CVD is around -372M, spot CVD -40.8M, and futures orderbook delta around -7.8M.
So price is pumping, but aggressive buying still isn't fully confirming it.
Short-term flow is improving though: 1H +4.25M $SAND and 4H +7.51M, while 1D remains -11.19M and 5D large-wallet flow is around -42M.
The news backdrop is helping. Sandbox Studio is targeting a public launch in October, and recent exchange warnings were removed after the bridge incident. SAND has also seen strong exchange outflows recently, which could indicate reduced selling pressure.
My view is simple:
LONG has the edge, but I don't want to chase directly under $0.0776.
I'd rather wait for a pullback and see whether buyers actually defend the zone.
If SAND reaches my entry zone, I'll wait for a 1H candle confirmation, then check CVD + orderbook delta + taker flow together.
Guys, overall the news and catalyst side for SAND looks very positive right now, so spot looks more attractive than leverage here. With spot, there’s no liquidation risk, and short-term volatility or sudden wicks are much easier to handle without getting stopped out by a leverage flush. $BR
First, derivatives.
OI is around 326.5M SAND (~$22.5M) and has risen with price, meaning fresh leverage is coming back. Funding is still around -0.20%, so shorts are paying while price moves higher. L/S is long-biased around 1.34-1.38, and short liquidations are much higher than longs: 82.9K vs 4.1K.
The liquidation map is also interesting. Across 12H, 24H and 48H, we have heavy liquidity around $0.0745-$0.0757, with the bigger magnet at $0.0776.
But here's what makes me cautious 👇
CVD is still weak. Futures CVD is around -372M, spot CVD -40.8M, and futures orderbook delta around -7.8M.
So price is pumping, but aggressive buying still isn't fully confirming it.
Short-term flow is improving though: 1H +4.25M $SAND and 4H +7.51M, while 1D remains -11.19M and 5D large-wallet flow is around -42M.
The news backdrop is helping. Sandbox Studio is targeting a public launch in October, and recent exchange warnings were removed after the bridge incident. SAND has also seen strong exchange outflows recently, which could indicate reduced selling pressure.
My view is simple:
LONG has the edge, but I don't want to chase directly under $0.0776.
I'd rather wait for a pullback and see whether buyers actually defend the zone.
If SAND reaches my entry zone, I'll wait for a 1H candle confirmation, then check CVD + orderbook delta + taker flow together.
Guys, overall the news and catalyst side for SAND looks very positive right now, so spot looks more attractive than leverage here. With spot, there’s no liquidation risk, and short-term volatility or sudden wicks are much easier to handle without getting stopped out by a leverage flush. $BR