- Sandbox price analysis reveals bearishness today.
- The massive resistance stands at $4.9.
- SAND’s dependable support sits at $2.7.
Sandbox price analysis shows the token has followed a bearish path, highlighting brief further bearish opportunities. For now, SAND/USD hovers beneath the $3 level. Meanwhile, the flash crash of 27 February saw SAND dropping towards its current price area of $2.9.
The market structure seemed massively bearish, translating to a downside trend. SAND lost 5.32% within the past 24hrs, with a $740,611,595 trading volume. For now, the alt ranks 37, live market cap standing at $3,238,681,066.
SAND/USD 4Hr Price Analysis: Recent Developments
SAND price shows dormant volatility bias. That means SAND/USD price will change whenever volatility shifts to either extreme. However, the altcoin will remain steady before that. Furthermore, Sandbox stays within respective resistance and support values. With that, the Bollinger’s upper limit stands at $3.2, serving as SAND’s massive resistance. Contrarily, the band’s lower limit at $2.7 represents the altcoin’s reliable support.
The metaverse token seems to cross beneath the Moving Average curve, suggesting a bearish bias. However, SAND price appears to exhibit downtrends. That makes the currency track declining movements regarding its price.
The Relative Strength Index of 42 shows the token in a stable category, staying in the bottom neutral region. The indicator seems to follow a linear bias, confirming steady price actions for the alt. the RSI maintains a constant score due to equal buying and selling activities.
SAND 1-Day Price Analysis – Market Closes
SAND price outlook shows the market’s volatility on a plunging trend, meaning the token’s price will mimic volatility to be less vulnerable to volatile change. 1-day Bollinger’s topside limit at $4.9 serves as SAND’s resistance. Meanwhile, the band’s bottom limit represents support at $2.4.
SAND price seems to cross beneath the MA curve, suggesting a bearish momentum. For now, bears dominate the market, translating to further downtrends for the alt. Meanwhile, the price heads toward support, confirming future breakouts.
Final Thought
SAND price shows bears in control with more bearish activity in the coming session. Though the market shows breakout potential, we aren’t sure whether such a development will emerge. Meanwhile, improved market sentiment can shift SAND’s bias within no time.
Editorial credit: Dennis Diatel / shutterstock.com
