SAND price analysis: The market almost breaks at $2.75

SAND

TL;DR Breakdown

  • SAND price analysis is bearish for today.
  • The strongest resistance is present at $3.8.
  • The strongest support is available at $2.6.

SAND price analysis reveals that the cryptocurrency has been following a partial bearish trend, with the price of SAND/USD fluctuating under the $2.8 mark. On April 11, 2022, the cost of SAND reached $2.6, crashing from the $2.9 mark. On April 12, 2022, the price gained some momentum after experiencing a slight upward movement to $2.75, which is also the current price of SAND. However, the market dynamic appears to be shaky, making it hard to predict. The Sandbox has been down 3.41% in the last 24 hours, with a trading volume of $533,796,723. SAND currently ranks #39 with a live market cap of $3,201,617,255.

SAND/USD 4-hour price analysis: Latest developments

The SAND price analysis reveals the market’s volatility follows an opening trend. 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 $3.1, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is available at $2.6, 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 opening, the market trend may become more uncertain. Nevertheless, the SAND price appears to be following an upward direction making the cryptocurrency undergo an increment in value.

SAND price analysis: The market almost breaks at $2.75 1
SAND/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 36, indicating that the cryptocurrency falls in the undervalued category under the lower neutral region. The RSI path appears to be following a linear direction indicating that the price of SAND is constant. The RSI score remains constant because the buying activity equals the selling activity.

SAND price analysis for 1-day: Market almost breaks

The SAND price analysis reveals the market’s volatility following an opening 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 $3.8, 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 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. The SAND price path appears to be moving downwards, signifying decreasing value and the potential for a breakout.

SAND price analysis: The market almost breaks at $2.75 2
SAND/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 37, indicating that the cryptocurrency is undervalued and falls under the lower neutral region. The RSI path appears to follow a slightly upward direction, indicating that the SAND price will experience an increment due to it. The RSI score is increasing because the buying activity outweighs the selling activity. Therefore, The price shall remain stable until the RSI fluctuates, causing the market to change for better or worse.

SAND Price Analysis Conclusion

Careful observations from the SAND price analysis have deduced that the bears partially control the market. The price has been struggling for $3 for a while. However, the bears are not letting the cryptocurrency reach its full potential. Hopefully, the SAND value will recover in the coming days.

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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