- The price of The Sandbox was again bought by sellers, resulting in a drop in prices today.
- The SAND token appears to be in a bearish position on the daily time frame, falling in parallel channels.
- The pair price of the SAND token with the BTC pair is 4.2% green at 0.00004627 Satoshis.
The Sandbox is heading towards its 2022 lows when the coin is sold. The bears have turned each increase into a selling opportunity since early 2022. This roller-coaster ride turned out to be the most profitable for sellers, who shorted the sandbox token at the highest prices, and the bears also recorded an annual low on June 18 at $0.732.
The price action is forming a higher-low after reversing the $1.4 to $1.5 resistance area. At the time of writing, the SAND token is trading with a 2% intraday drop at the $0.875 mark against the USDT pair. Furthermore, the pair price of the SAND token with the BTC pair is 4.2% green at 0.00004627 Satoshis.
The price action remains under the falling parallel channel in lower time frames like daily and below. Recently, the SAND price reversed from the support line of the parallel channel. For upcoming trading sessions, the ideological round level of $1.0 has a next selling zone of buyers if bulls break this bearish pattern before this week’s end.
Stoch RSI is Showing Positivity in The SAND Value
Meanwhile, The Sandbox token’s market cap has risen by 3.2% to $1.35 billion in the past 24 hours. This happens because the Stoch RSI is moving up and changed its direction last night. Conversely, the simple RSI indicator is still showing downside in price as long as there is no sand price below the 20 day exponential moving average in terms of the daily price scale.
conclusion
The Sandbox is an undervalued asset in value, while it is close to the annual minimum. Bears continue to sell SAND crypto near the 20 day exponential moving average for so long, but a sharp breakout can happen anytime.
Resistance level- $1.0 and $2.0
Support level- $0.8 and $0.70
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
