- Sand coin price is below the long-term demand zone, as it broke down during the past 6 months sell-off in the overall market.
- Sand coin price is forming a symmetrical triangle pattern on a daily time frame.
- The pair of SAND/BTC is trading at the price of 0.000057 with a decrease of 3.08% in the past 24 hours.
Sand coin price is forming higher high formation on the daily time frame, as it forms a symmetrical triangle pattern. The Sand coin, recently tested the breakdown zone multiple times in a short span. This has made the supply zone weaker and therefore a possible breakout on the upside can be seen in the price of the SAND coin price. At present, the coin is trading below the vital moving averages (20,50,100). The coin tried to give a breakout ok 50 Moving Average but failed, as a result, it again started falling. The SAND coin price is sideways at the moment and is hovering around the supply zone of $1.32.The sand coin price is strafing in the middle of the Bollinger band indicator. The coin price tried to break out of the upper band of the indicator acting as a supply zone but failed. Currently, the range of the Bollinger band has narrowed and therefore a sharp move can be seen on either side. Volumes have increased causing the volatility to increase. Investors should wait for a clear trend and then act accordingly.
MACD and Supertrend are showing bullish signs on the daily time frame
As seen on the chart, the SAND coin price is showing bullish momentum and the technical parameters are suggesting the same. The SAND coin is trading in a small range.
Moving Average Convergence Divergence: MACD indicator suggests a bullish momentum to follow up as the blue line jumped off the orange line. As the time moves higher, it remains to see, whether it will give a breakout or again face rejection of the supply zone of $1.350 and fall. The gap between the blue and orange lines will start widening if the coin gives a breakout, confirming it.
Supertrend: Supertrend indicator gave a buy signal as the coin broke the longer-term supply zone of $1.350 earlier. The SAND coin price gave a breakout with a strong bullish candlestick pattern, confirming it as a genuine breakout and not a fake breakout. Supertrend buys trendline will act as support until the coin breaks it.
Sand coin price is back to its root from where it started
Sand coin price has fallen back to where it started and now it is hovering around the long-term demand zone.
Relative Strength Index: RSI is trading at 40.01 and is moving slowly upwards.As the coin bounced off the long-term demand zone of $1.00.The RSI curve has also crossed the 14 SMA, as a result, the coin can be seen moving upwards slowly. Investors should wait for the small range to break and then act accordingly.
Average Directional Movement Index: ADX has slipped below 20 as the coin fell below the long-term demand zone.ADX has turned upwards as it formed a bullish candlestick pattern at the bottom.ADX has dipped out of the 25 zones now and therefore a bullish momentum is expected in the upcoming trading days.
CONCLUSION: SAND coin is resting at a long-term demand zone. After rising steeply, the coin has again fallen back to where it started again. Therefore the coin could be seen covering the demand zone for quite a while. Investors should wait for a clear trend before taking positions.
SUPPORT: $1.00 and $1.20
RESISTANCE: $1.4 and $1.5