Sandbox Price Prediction: Is the SAND Price under-valued?

• Sandbox Price Prediction is bullish for the long term and possibility of the reversal is visible. 
• SAND Price is trying to climb above the 50 day EMA to reverse the trend.
• The downfall in Sandbox Price halted near the long term demand zone. 

Sandbox Price Prediction suggests a significant increase in the value is possible in the long run. SAND Price recovered 40% approx from the recent swing low and buyers are trying their best to rebound. 

Sandbox Price is attempting to climb above the 50 day EMA to reverse the short term trend in the favor of bulls. However, the 200 day EMA is coming closer which will act as a next hurdle for the bullish traders. 

In the beginning of June, SAND Price tried to break out of the $0.6000 level but got rejected. Prices reverted in a downward direction and declined with a strong momentum. The selling volume also increases rapidly which indicates some genuine investors had taken exit from the higher levels. 

However, the downfall halted near to $0.3000 and responsive buyers came from to defend the demand zone. Later, after consolidating for a few days, prices began to recover but it lacked momentum. 

Sandbox Price is trading at $0.4324 with an intraday rise of 1.50%. The 24 hour volume to market cap is 7.26%. The pair of SAND/BTC is trading at 0.00001405 with an intraday rise of 0.64%. 

Will Sandbox Price break the trendline?

Sandbox Price is still on a declining phase and facing strong resistance at the downward sloping trendline. The short term pull back is facing difficulty to sustain on a higher level indicates sellers are still active.

If the buyers succeed to push the SAND Price above the 50 day EMA then the  probability of trendline breakout will increase. The initial signs of the trend reversal will be visible when buyers will break out of the trendline hurdle. 

However, the confirmation of the trend reversal will come when price breaks the swing high hurdle at $0.6000. On the other hand, if the Sandbox Price faced rejection from the trendline then bears will try to pull it down to the yearly lows. 

The technical analysis suggests, Sandbox Price is still in bear grip and probability of sharp recovery remains low.

SAND Price formed a Doji candle

SAND Price formed a Doji candle on the weekly time frame indicating indecisiveness and lack of direction. The crypto leader Bitcoin Price is performing well despite that the SAND is not showing any strong signs of reversal. 

The MACD curve is sloping sideways but it positively intersected with the moving average. It indicates prices are likely to consolidate for some more time in the narrow range before deciding the further direction. 

The RSI at 50 near to the neutral territory denotes the equal level of tug of war between buyers and sellers. 

Conclusion

Sandbox Price Prediction suggests a rise in the long run but the momentum will be visible only after trendline breakout. SAND Price is recovering but the confirmation of trend reversal is awaited. 

The Sandbox Prices seem undervalued near the demand zone but fresh buyers look reluctant to build a long position. 

Technical levels

Resistance levels: $0.6000 and $0.7226

Support levels: $0.3500 and $0.3000

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.