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SAND price analysis: SAND suffers a negative trend at $4.2

SAND

TL;DR Breakdown

  • SAND price analysis is bearish today.
  • The strongest resistance is present at $5.04.
  • The strongest support is available at $4.1.

SAND price analysis reveals that the cryptocurrency has been following a bearish trend displaying slight further opportunities for bearish activities, with the price of SAND/USD moving under the $4.3 mark. On February 12, 2022, the cost of SAND started to suddenly crash and reached $4.4 but shifted to a negative momentum the next day. On February 13, 2022, the price declined towards $4.2.

The market dynamic appears to be strongly bearish, making it suitable for raising the price of SAND. The Sandbox has been up 2.09% in the last 24 hours, with a trading volume of $762,031,069. SAND currently ranks #35 with a live market cap of $4,372,548,985 and a circulating supply of 1,038,254,385 SAND coins.

SAND/USD 4-hour price analysis: Latest developments

The SAND price analysis reveals the market’s volatility follows a decreasing 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 SAND market appears to be entering a soon squeeze as the resistance and support band come close together. As a result, the upper limit of the Bollinger’s band is present at $4.2, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is available at $4.1, 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. Nevertheless, the SAND price appears to be downward, making the cryptocurrency track a declining movement.

SAND price analysis: SAND suffers a negative trend at $4.2 1
SAND/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 40, indicating that the cryptocurrency falls in the stable category falling in the lower neutral region. The RSI path appears to be following a linear direction indicating that the price of SAND is experiencing stability. The RSI score is constant because of the equivalence of selling and buying activities.

SAND price analysis for 1-day: Enter, bears

The SAND price analysis reveals the market’s volatility following a declining trend, meaning that the price of SAND/USD will follow the volatility into becoming less prone to experience volatile change. The upper limit of the Bollinger’s band is available at $5.04, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is present at $3.01, 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. Bears control the market for now and are likely to maintain control as the odds stack in their favor, and the market shows further bearish opportunities. However, the price appears to move linearly towards stability.

SAND price analysis: SAND suffers a negative trend at $4.2 2
SAND/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 50, indicating that the cryptocurrency is stable and falls in the central neutral region. The RSI path appears to follow a linear direction, indicating a constant market and movement towards stable dynamics. The RSI score remains constant as the buying and selling activities are equal.

SAND Price Analysis Conclusion

Careful observations from the SAND price analysis have deduced that the bears control the market with the bulls attempting to take it from them. The price has been climbing for the $4.3 mark for a while and has reached its goal only to decline. However, as the bears show some potential, the market is put at risk of devaluation.

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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