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SAND price analysis: SAND attains bullish momentum at $1.33

SAND price analysis: SAND attains bullish momentum at $1.33
TL;DR Breakdown
  • SAND price analysis is bullish for today.
  • The strongest resistance is present at $2.4.
  • The strongest support is available at $1.7.

SAND price analysis reveals that the cryptocurrency has been following a bullish trend, with the price of SAND/USD moving towards the $1.35 mark. On May 19, 2022, the cost of SAND started to suddenly crash and reached $1.44 but shifted to a positive momentum the next day. On May 20, 2022, the price began to spike with positive momentum after experiencing a significant increase to $1.37, right before decreasing to $1.33, 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 10.76% in the last 24 hours, with a trading volume of $1,220,939,464. SAND currently ranks #39 with a live market cap of $1,637,830,957 and a circulating supply of 1,227,539,778 SAND coins.

SAND/USD 4-hour price analysis: Latest developments

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 upper limit of the Bollinger’s band is present at $1.4, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is available at $1.1, 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 decreasing, the market trend has become more predictable. Nevertheless, the SAND price appears to be following an upward direction making the cryptocurrency track an increasing movement, showing increments in the value of the Sandbox and maintenance of the trend.

image 350
SAND/USD 4-hour price chart source: TradingView

SAND price analysis reveals that the Relative Strength Index (RSI) is 52, indicating that the cryptocurrency falls in the stable category in the central neutral region. The RSI path appears to be following a downward direction indicating that the price of SAND is experiencing increments. The RSI score is decreasing because of the dominant selling activity.

SAND price analysis for 1-day: Bullish reign begins

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 $2.4, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is present at $0.8, 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 upward towards increasing dynamics, attempting to meet the resistance.

image 351
SAND/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) is 36, indicating that the cryptocurrency is slightly undervalued and falls below the lower neutral region. However, the RSI path appears to follow upward, indicating an increasing market and possible stability. The RSI score increases due to the dominant buying activity.

SAND Price Analysis Conclusion

Careful observations from the SAND price analysis have deduced that the bulls control the market. The price has been climbing to $1.38 for a while and has finally gained enough potential to attain its goal eventually. However, as the bears show some potential, the market is put at risk.

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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