The price of SAND has risen by 40%, and the market sentiment cycle has entered a "depression phase".

The native token of the metaverse platform The Sandbox, SAND, has risen by 40% in the past month, reaching a price of $0.61, its highest level since April this year. SAND is a popular GameFi token that initially gained attention during the pandemic from 2020 to 2021 as it provided an alternative source of income for people during lockdowns. Although GameFi tokens first gained attention during the pandemic from 2020 to 2021, their value plummeted with the overall downturn in the crypto industry at the end of 2021. However, recent data shows that SAND seems to be in a "depression phase", and may be poised for a long-awaited recovery. Renowned on-chain analyst Ali Martinez stated that this is a key point in typical market psychological cycles. Therefore, this period could be an opportune time as markets might be preparing for potential upswings. Martinez referred to Wall Street's cheat sheet which breaks down market cycle psychology and explains various emotions involved therein. According to this chart, markets operate in cyclical patterns which repeat over time; signs of improvement begin to quietly emerge at this stage when confidence hits rock bottom and sellers have exited leaving room for accumulation at extremely low prices marking start of next market cycle momentum . Analysts pointed out bullish opportunities for SAND are located at $0.55 - already broken through - with no major resistance ahead potentially attacking higher levels; next key resistance barrier lies between $0.90-$1.35 where there are collectively held by approximately 23k addresses holding around 447 million SAND tokens . This bullish forecast follows closely behind The Sandbox's expansion plans: As disclosed last week , they plan on establishing India as their largest market within next two years ; In February , they made significant breakthrough entering Indian market via joint venture with local entities ; Earlier this year , security vulnerability involving malicious application was encountered wherein unauthorized third party successfully accessed computer of one employee and used obtained information to send fraudulent email disguised as The Sandbox.