SAND price analysis: SAND massively positive towards $4.6

SAND

TL;DR Breakdown

  • SAND price analysis is bullish for today.
  • The strongest resistance is present at $4.6.
  • The strongest support is available at $3.3.

SAND price analysis reveals that the cryptocurrency has been following a bullish trend, with the price of SAND/USD fluctuating under the $4 mark. On February 5, 2022, the cost of SAND started to suddenly spike and reached $4.49 right before slightly declining to $4.27 on the same day. On February 6, 2022, the price regained positive momentum after experiencing a slight increase to $4.5, which is also the current price of SAND; the price continues with the uptrend.

The market dynamic appears to be strongly bullish, making it suitable for raising the price of SAND. The Sandbox has been up 4.46% in the last 24 hours, with a trading volume of $1,312,533,207. SAND currently ranks #36 with a live market cap of $4,216,181,269.

SAND/USD 4-hour price analysis: Latest developments

The SAND price analysis reveals the market’s volatility follows a massive increasing trend, meaning that the price of SAND/USD that is subject to change will change as the volatility fluctuates to either extreme; more volatility means more probability of price change. The upper limit of the Bollinger’s band is present at $4.7, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is available at $3.3, which represents the strongest support for SAND.

The SAND/USD price appears to be crossing over the curve of the Moving Average, indicating a bullish trend. However, since the volatility seems to be increasing, the market trend becomes more unpredictable. The SAND price appears to be following an upwards direction making the cryptocurrency move towards the resistance band. If the two meet, the market will undergo a breakout reversing the trend.

SAND price analysis: SAND massively positive towards $4.6 1
SAND/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 71, indicating that the cryptocurrency falls in the overvalued category falling in the inflation region. The RSI path appears to be following a slight downwards direction indicating that the price of SAND is experiencing decline and moving towards stability. The RSI score is decreasing because the dominant selling activity.

SAND price analysis for 1-day: Possible reversal

The SAND price analysis reveals the market’s volatility following a dormant trend, meaning that the price of SAND/USD has become constant until the volatility fluctuates on either side. The upper limit of the Bollinger’s band is available at $4.6, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is present at $2.7, which serves as the strongest support for SAND.

The SAND/USD price appears to be crossing over the curve of the Moving Average, signifying bullish momentum. Bulls control the market for now and are likely to maintain control as the odds stack in their favor. However, the price appears to move upwards towards the resistance, almost meeting it. If the price and the resistance band make contact the market will undergo a reversal which will potentially hand the market to the bears.

SAND price analysis: SAND massively positive towards $4.6 2
SAND/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 57, indicating that the cryptocurrency is stable and falls in the upper neutral region. The RSI path appears to follow an upwards direction, indicating towards an increasing market with signs of inflation soon. The RSI score increases due to the buying activity surpassing the selling activity. Therefore, the price shall grow as the RSI score moves upwards, causing the market to undergo change, all while increasing the cryptocurrencys’ value.

SAND Price Analysis Conclusion

Careful observations from the SAND price analysis have deduced that the bulls control the market. The price has been struggling for $4 for a while. However, the bulls don’t intend on disappointing, and they will surely pull through and raise the price of SAND.

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.

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