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SAND price analysis: SAND/USD downward biased at $4.4

SAND

TL;DR Breakdown

  • SAND price analysis is bullish for today.
  • The strongest resistance is present at $4.7.
  • The strongest support is available at $4.2.

SAND price analysis reveals that the cryptocurrency has been following a bullish trend, with the price of SAND/USD moving towards the $4.5 mark. On February 7, 2022, the cost of SAND started to increase and reached the $4.8 mark but began to decline soon after. On February 8, 2022, the price continued to decrease as the market started to show bearish opportunities. The price reached as low as 4.4, which is also the current price of SAND.

The market dynamic appears to be strongly bullish, making it suitable for raising the price of SAND. The Sandbox has been down 3.12% in the last 24 hours, with a trading volume of $1,157,589,267. SAND currently ranks #35 with a live market cap of $4,601,274,712.

SAND/USD 4-hour price analysis: Latest developments

The SAND price analysis reveals the market’s volatility follows a significant downside trend, meaning that the price of SAND/USD that is subject to change will change as the volatility fluctuates to either extreme; less volatility means less probability of price change. The upper limit of the Bollinger’s band is present at $4.8, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is available at $4.2, 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. However, since the volatility seems to be decreasing, the market trend becomes more predictable with little chance of experiencing change. Moreover, the SAND price appears to follow a downwards direction, making the cryptocurrency show bearish momentum and devaluation. Finally, the price moves towards the support attempting to break it, potentially turning the tide on bears making their effort go to waste.

SAND price analysis: SAND/USD downward biased at $4.4 1
SAND/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 52, indicating that the cryptocurrency falls in the stable category falling in the upper neutral region. The RSI path appears to follow a downward direction, indicating a decreasing market and movement towards stability. The RSI score is decreasing because of the dominant selling activity.

SAND price analysis for 1-day: Bearish opportunities

The SAND price analysis reveals the market’s volatility following an increasing trend, meaning that the price of SAND/USD will follow the volatility into becoming more prone to experience volatile change. The upper limit of the Bollinger’s band is available at $4.7, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is present at $2.6, 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, but are not likely to maintain control as the odds stack against them. However, the price appears to move downwards towards the Moving Average, almost meeting it, if that happens, a reversal trend is imminent, and the bears will be in control from then.

SAND price analysis: SAND/USD downward biased at $4.4 2
SAND/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 55, indicating that the cryptocurrency is stable and falls in the upper neutral region. The RSI path appears to follow a downward direction, indicating a decreasing market and possible stability, although if the bears continue with their potential, the cryptocurrency might face devaluation soon. The RSI score decreases due to the selling activity exceeding the buying activity.

SAND Price Analysis Conclusion

Careful observations from the SAND price analysis have deduced that the bulls control the market now. The price has been climbing for $4.7 for a while and had attained its goal right, reducing all efforts to waste soon after. The market enters a negative zone as the bears lay the foundation for their newborn potential and opportunities.

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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