It could touch from the sides, bottom, and obviously, the top.
The logic behind it is that honey is sticky, and as such, will hold the block up. I think this should work on anvils too, even if it doesn't make the most sense, because the advantage in terms of gameplay is far greater.
The main reason for this suggestion is that I think sand could potentially be useful in builds. For example, I once tried to make an arch out of sand and sandstone for the texture, but I honestly would've liked the result much more if I could keep sand up without putting string underneath. The intention is that the honey block is covered with sand to hide it.
Seeing that it already slows down TNT falling, I think this holding up sand or at least slowing it down makes perfect sense.
As always, thanks for reading, and have a good one!
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I got lodestone into vanilla Minecraft! I also moderate r/minecraftsuggestions.