- SAND price analysis appears to be bearish.
- The strongest resistance is present at $6.8.
- The strongest support is present at $5.7.
SAND price analysis reveals that the cryptocurrency has been following a slight downwards trend, with the price of SAND/USD in decline. On January 1, 2022, the cost of SAND reached $5.9, recoiling from the $6.0 mark. The next day the price declined to $5.9, which is also the current price of SAND. The market dynamic appears to be moving in a downwards direction which may result in more devaluation.
SAND/USD 4-hour price analysis: Market tightens as trend shifts
The SAND price analysis reveals the market’s volatility to be following a dormant trend meaning that it’s neither increasing nor decreasing and has the same effect on the probability of price change of SAND. The upper limit of the Bollinger’s band is present at $6, which serves as the strongest resistance. The lower limit of the Bollinger’s band is present at $5.7, which represents the strongest support.
The resistance band and the support band appear to be very close, indicating a squeeze happening in the market. This may result in a highly volatile market soon.
The SAND/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish trend. Since the volatility is low, this trend is unlikely to vary unless the volatility skyrockets.
The Relative Strength Index (RSI) is 47, which indicates that the cryptocurrency falls neither on the overbought class nor the undervalued category. The RSI path appears to be following a straight stable direction indicating that a reverse trend is unlikely.
SAND price analysis for 1-day: Market indicates strong bearish dynamics
The SAND price analysis reveals the market’s volatility to be following an upwards trend, meaning that the price of SAND/USD is becoming more prone to experience variable change. The upper limit of the Bollinger’s band is present at $6.8, which serves as the strongest resistance. The lower limit of the Bollinger’s band is present at $4.4, which serves as the strongest support.
The SAND/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish movement. The bears have taken full control of the market and are likely to maintain it, giving the bulls no chance to counter.
The Relative Strength Index (RSI) is 53, which indicates that the cryptocurrency falls neither on the overbought side nor the undervalued side. It shows no sign of moving towards either extreme. The RSI path appears to be following a straight stable direction indicating that a reverse trend is unlikely and that the bulls will continue to dominate the market.
SAND Price Analysis Conclusion: SAND/USD oscillates near $6
Careful observations from the SAND price analysis have deduced that the bears have taken complete market control. The price was expected to reach $7 before the New Year; now, the cryptocurrency struggles for $6. However, the market’s momentum changed and now indicates that there is a chance that the bears will maintain the market trend for the time being. The bulls can make a comeback, but that’s the less likely scenario.
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