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- 1 SAND is trading below the 20,50,100,200 Days Exponential Moving Averages.
- 2 The current price of SAND is around $0.6248 with a decline of 2.82% in the last trading session.
- 3 The pair of SAND/BTC is around 0.00002241 BTC with a drop of 2.45% in the last 24 hours.
The Sandbox might get a trend reversal as the token was previously under bullish dominance. The sellers are trying to influence the market for SAND. The Bullish trend for SAND started in this year but it appears that the sellers may overwhelm the buyers soon.
The current price of SAND is around $0.6248 with a decline of 2.82% intraday. SAND price might approach the primary support of $0.5269 and it might lead to the secondary support of $0.3827. And if the buyers push the coin price upwards, the price might get to its primary resistance of $0.6865 and the price might also reach the secondary resistance of $0.8354 if the bulls dominate.
The volume of the token declined by 42.67% during the last 24 hours. The decrease in volume indicates that the buyers are losing their grip on the SAND. The short-selling pressure over the coin also increased. SAND is trading below the 20,50,100,200 Days of the Exponential Moving Average. The volume-to-market cap ratio is 0.0704.
Exploring the Technical Indicators of SAND
The intersection of the MACD and MACD signal produced a positive cross. If the sellers reverse the trend, the RSI might move toward the oversold zone. The current value of the RSI is 47.53 and the average RSI of 48.63, returning from neutrality. The buyers must make a move as the sellers are continuously trying to dominate SAND.
Conclusion
The downward trend for the SAND token can be seen over the daily price chart as sellers continue to dominate the market. The token’s price has already dropped by 2.82% in the last intraday trading session, and the volume has decreased by 42.67% in the last 24 hours, indicating a loss of buyer grip. Technical indicators suggest that if sellers reverse the trend, the RSI might move toward the oversold zone.
Technical Levels
Support Levels: $0.5269 & $0.3827
Resistance Levels: $0.6865 & $0.8354
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
