logo

SAND price analysis: SAND/USD oscillates near $5

SAND

TL;DR Breakdown

  • SAND price analysis is bearish for today.
  • The strongest support is present at $4.5.
  • The strongest resistance is present at $6.8.

SAND price analysis reveals that the cryptocurrency has been following a shaky trend, with the price of SAND/USD fluctuating under the $5 mark. On January 7, 2022, the cost of SAND reached $5.2, recoiling from the $5.3 mark. On January 8, 2022, the price declined after experiencing a massive downtrend to $4.9, which is also the current price of SAND. The market dynamic appears to be shaky, making it hard to predict.

SAND/USD 4-hour price analysis: Negative momentum diminishes

The SAND price analysis reveals the market’s volatility follows a quiet, dormant trend meaning that it’s neither increasing nor decreasing and has the same effect on the probability of price change of SAND/USD. The upper limit of the Bollinger’s band is present at $5.5, which serves as the strongest resistance. The lower limit of the Bollinger’s band is available at $4.5, which represents the strongest support.

The SAND/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish trend. Since the volatility appears to be substantial, the market trend may shift in either direction. Hopefully, the price will rise as the bulls take control.

SAND price analysis: SAND/USD oscillates near $5 1
SAND/USD 4-hour price chart source: Trading view

The Relative Strength Index (RSI) is 39, indicating that the cryptocurrency falls neither on the overbought class nor the undervalued category. The RSI path appears to be following a straight stable, straightforward direction indicating that the price of SAND is not likely to fall in either direction.

SAND price analysis for 1-day: SAND maintains strong resistance; will it hold?

The SAND price analysis reveals the market’s volatility following a slight 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 $4.5, which serves as the strongest support.

The SAND/USD price appears to be crossing under the curve of the Moving Average, signifying bearish momentum. The bears control the market for now, but they may not be able to maintain their control as observations point towards a reverse trend soon.

SAND price analysis: SAND/USD oscillates near $5 2
SAND/USD 1-day price chart source: Trading view

The Relative Strength Index (RSI) is 41, indicating that the cryptocurrency falls neither overbought nor undervalued. It shows no sign of moving towards either extreme. The RSI path appears to be following a straight stable direction indicating that the SAND price will remain in its current state until the RSI fluctuates.

SAND Price Analysis Conclusion: Bearish momentum with bullish opportunities

Careful observations from the SAND price analysis have deduced that the bears control the market. Since the New Year, the price has declined; now, the cryptocurrency struggles for $5. However, the market’s momentum changed and now indicates that there is a chance that the bulls will reclaim the market soon. The bulls will need to make a strong comeback to raise the SAND price.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

Related News

Hot Stories

Ethereum price analysis: ETH fails to break the $1,300 level after a period of consolidation
LOOM Price Prediction 2023-2031: Is the Loom Network a Good Investment?
ChainLink price analysis: LINK obtains fully bearish momentum at $7.3
Electroneum Price Prediction 2023-2031: Is ETN a Good Investment?
Bitcoin price analysis: Bitcoin reclaims $17,000 as bearish divergence looms

Follow Us

Industry News

Are crypto miners losing faith in Bitcoin? Over 10K BTC dumped
Coin Signals ordered to return funds to victims
Weekly crypto price analysis 4th Dec: BTC, ETH, XRP, BNB, ADA, DOGE
DeFi predictions 2023: How will crypto and blockchain evolve? 
Avalanche partners with Alibaba Cloud to launch new validators

Add Your Heading Text Here