Crypto Technical Analysis

The Sandbox(SAND) Technical Analysis: SAND Price Could Surge Another 15% to Close Day’s Trade!

Sandbox Technical Analysis

Key Takeaways

  • The SAND price closed the previous day’s trade at $3.25 with a market capitalization of $3.38 billion and a circulating supply of 1.14 billion SAND 
  • With another upswing of 18%, the price may chase an important resistance level which may ignite a strong uptrend 
  • The uptrend is expected to continue until the asset reaches the pivotal resistance at $4.5 to validate a strong uptrend 

The Sandbox(SAND) Technical-Analysis for Today: 17 March 2022

The SAND price began with a notable uptrend since the previous day’s trade and jumped high by forming a bull flag. Further, the asset displayed a monstrous rally since the beginning of the present day’s trade and spiked close to 15%. No doubt, the asset is facing an interim pullback, yet it may be flipped shortly. 

With another leg up, the asset may attempt to close the day’s trade on a bullish note by smashing the immediate resistance levels at $3.4. Once these levels are secured and sealed, then the asset could continue raising high to test the levels around $3.8 and later at $4 too. 

The Sandbox(SAND) Technical Analysis at a Glance

The SAND price is again attempting to flip from the bearish trend with a huge spike. However, the volume also witnessed a significant spike of let much similar to the spike during the last week of January. Therefore, until and unless the asset secures the levels above $4.7, then the flip from the bearish trend may not be validated. And hence the fear of the asset falling again within the same bearish trap still haunts the rally. 

Short-Term The SAND price after a significant uptrend is experiencing a slight pullback which may be overturned with a significant buying volume in the upcoming hours
Mid-Term Despite a minor pullback, the asset is believed to range high as it’s pretty poised to hit the upper resistance at the earliest
Long-Term The fresh attempt to ease out the bearish trend lags a strong bullish momentum and hence could witness a correction if the buyers get exhausted

Additional Read: MANA vs SAND

Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1Hr / 1D) Action (1Hr / 1D)
Relative Strength Index(RSI) 70.7 / 52.3 Buy / Neutral 
MACD(12,26) 0.098 / -0.151 Buy / Sell
Average Directional Index(ADX) 45.33 / 23.6 Buy / Buy 
Bull-Bear Power 0.084 / 0.62 Buy / Buy

Pivot Levels

Pivot Levels Short-Term Long-term
Moving Average(MA)-50 $2.9 $3.5
Moving Average(MA)-200 $2.83 $2.99
Resistance $3.41 $4.75
Support $3.0 $2.28

Oscillators

Oscillators Short-Term Long-Term
Stochastic Oscillator 48.9 35.03
Ultimate Oscillator 63.4 54.14
Average True Range(ATR) 0.066 0.203
CCI 58.06 219.72

With the recent surge, the SAND price appears to be extremely bullish in the short term with almost all the indicators pointing towards a buy signal. However, the RSI is trending within the overbought regions and has a minor probability of pullback surfaces. Yet the MACD also displays a strong accumulation of buying volume, and hence the uptrend could continue. On the other hand, the strength of the rally is also coiling up with the bulls having full control. 

However, in the long term, the indicators appear a little uncertain. As the RSI is around the middle zones waiting for the next movement. Despite a huge buying volume in STF, MACD is extremely bearish in HTF. Yet the strength of the rally is very strong with the control still within the bulls. Hence a significant uptrend may be imminent. 

Additional Read: SAND price Prediction

SAND /USDT Technical-Analysis for Short-Term

Source: Tradingview

  • After a steep free-fall, the SAND price is trading within a narrow channel, moreover, along with the lower support levels
  • The price received a strong rebound sometime before that escorted the price close to the resistance slicing the middle bands of the channel
  • Currently, the price is experiencing a small pullback which may hit the middle levels of the channels if intensified
  • Yet if the buyers jump in again, the asset may witness a flip from the current levels itself. 
  • The flip could barge in through the resistance of the channel and also surpass the immediate target at $3.5 shortly

SAND/USDT Technical Analysis for Long-Term

Source: Tradingview

  • The price ever since smashed highs in Q1 2021, maintained a strong descending trend that is carried on until now
  • However, the price is currently testing one of the crucial resistance at $3.24 and also approaching the apex of the symmetrical triangle
  • If the asset manages to surpass the current resistance then the asset could slice through the pattern and range high towards the crucial resistance at $.5
  • Else if the asset ranges slowly yet steadily, then it may continue to consolidate within the triangle for another couple of days
  • In such case, the next phase of the price movement may be depending on the volume induced which may undertake a drastic step irrespective of the direction

Where & How to Buy The Sandbox(SAND)

The SAND price can be easily bought and traded at your fingertips, here on CoinDCX. Along with a very wide variety of crypto assets, CoinDCX offers multiple benefits, lucrative in-App features, being cost-effective and prioritizing the security and the integrity of the customers. 

To register, you need to just download the CoinDCX App on your smartphone and enter the required details. Once the platform verifies your details, transfer funds from your bank onto the CoinDCX wallet and buy your desired crypto. 


Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

Share this Story

Check Also

Polygon MATIC Technical Analysis: How MATIC’s Recent Price Rebound can Trigger Further Recovery

MATIC price has been on the downward trend for a while now. Take a look, analyze why it has been loosing its value in the last couple months

GET ALL LATEST UPDATES ON YOUR EMAIL