Ethereum
$ 1,032.23 6.89%
Solana
$ 32.18 6.16%
Dogecoin
$ 0.065102 5.94%
ApeCoin
$ 4.33 8.89%
Bitcoin
$ 19,096.04 4.97%
BNB
$ 213.67 2.54%

SAND price analysis: SAND/USD struggles for $4.7

SAND

TL;DR Breakdown

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

SAND price analysis reveals that the cryptocurrency has been following a bearish 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: Strong support at $4.5; will it hold?

The SAND price analysis reveals the market’s volatility follows an increasing trend, meaning that the price of SAND/USD that is subject to change will change as the volatility fluctuates to either extreme. The upper limit of the Bollinger’s band is present at $5.2, which serves as the strongest resistance for SAND. The lower limit of the Bollinger’s band is available at $4.5, which represents the strongest support for SAND.

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. The SAND price appears to be following an upwards direction signifying a possible reverse trend.

SAND price analysis: SAND/USD struggles for $4.7 1
SAND/USD 4-hour price chart source: Trading view

The Relative Strength Index (RSI) is 36, indicating that the cryptocurrency falls neither on the overbought class nor the undervalued category. The RSI path appears to be following a slight upwards direction indicating that the price of SAND is experiencing increment and moving towards stability. The RSI score is increasing because the buying activity outweighs the selling activity.

SAND price analysis for 1-day: Market volatility expands

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 available at $6.8, which serves as the strongest resistance for SAND. The lower limit of the Bollinger’s band is present at $4.4, which serves as the strongest support for SAND.

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 maintain their control as observations soon point towards a reverse trend. The SAND price path appears to be moving downwards, and if it maintains its movement, a breakout is likely, which will cause a reverse trend allowing the bulls to reclaim the market.

SAND price analysis: SAND/USD struggles for $4.7 2
SAND/USD 1-day price chart source: Trading view

The Relative Strength Index (RSI) is 39, 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. The RSI score appears to be constant and shall remain constant until the buying activity or the selling activity fluctuates and cause the score to increase or decrease.

SAND Price Analysis Conclusion

Careful observations from the SAND price analysis have deduced that the bears control the market. The price has been struggling for $5 for a while. However, the market’s momentum changed and now indicates that there is a chance that the bulls might reclaim the market soon.

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

Dogecoin price analysis: DOGE declines down to $0.062 amid growing seller pressure
Chainlink price analysis: LINK price sinks to $5.95, a further downside to follow?
SKALE Price Prediction 2022-2031: How high can SKL get?
Ripple price analysis: XRP/USD pair set to break above the intraday highs of $0.33
Polkadot price analysis: DOT declines towards $6.83 after strong bearish activity

Follow Us

Industry News

CoinFlex CEO announces a shift in withdrawal date
Three Arrows could be liquidated due to the crypto market's bearish streak
Ronin bridge returns online after hack
Compass Mining loses Bitcoin mining facility for neglecting energy bill
Robinhood shares spike 14% on FTX rumored purchase report