TL;DR Breakdown
- SAND price analysis is bullish for today.
- The strongest resistance is present at $5.1.
- The strongest support is available at $3.7.
SAND price analysis reveals that the cryptocurrency has been following a bullish trend, with the price of SAND/USD fluctuating under the $4 mark. On February 1, 2022, the cost of SAND reached $4.08, recoiling from the $4.1 mark. On February 2, 2022, the price declined after experiencing a slight downtrend to $3.9, which is also the current price of SAND. The market dynamic appears to be shaky, making it hard to predict. The Sandbox has been down 0.31% in the last 24 hours, with a trading volume of $721,815,954. SAND currently ranks #37 with a live market cap of $3,674,318,271.
SAND/USD 4-hour price analysis: Latest developments
The SAND price analysis reveals the market’s volatility follows a declining trend, meaning that the price of SAND/USD that is subject to change will change as the volatility fluctuates to either extreme; less volatility means less probability of price change. The upper limit of the Bollinger’s band is present at $4.1, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is available at $3.7, which represents the strongest support for SAND.
The SAND/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish trend. However, since the volatility seems to be declining, the market trend may be conserved. The SAND price appears to be following a linear direction making the cryptocurrency maintain its movement.
The Relative Strength Index (RSI) is 56, indicating that the cryptocurrency falls in the stable category in the upper neutral region. The RSI path appears to be following a slight upwards direction indicating that the price of SAND is experiencing increment and moving towards inflation which could potentially sabotage the value of the cryptocurrency. The RSI score is increasing because the buying activity outweighs the selling activity.
SAND price analysis for 1-day: Market volatility closes
The SAND price analysis reveals the market’s volatility following a slight closing trend, meaning that the price of SAND/USD is becoming less prone to experience variable change. The upper limit of the Bollinger’s band is available at $5.1, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is present at $2.5, which serves as the strongest support for SAND.
The SAND/USD price appears to be crossing over the curve of the Moving Average, signifying bullish momentum. Bulls control the market for now and are likely to maintain control as the odds stack in their favor. The SAND price path appears to be moving upwards, signifying increasing value.
The Relative Strength Index (RSI) is 47, indicating that the cryptocurrency is stable and falls in the lower neutral region. It shows no sign of moving towards either extreme. The RSI path appears to follow a straight, steady direction, indicating that the SAND price will remain current until the RSI fluctuates. The RSI score seems constant due to the selling activity equaling the buying activity. Therefore, The price shall remain stable until the RSI fluctuates, causing the market to change for better or worse.
SAND Price Analysis Conclusion
Careful observations from the SAND price analysis have deduced that the bulls control the market. The price has been struggling for $4 for a while. However, the bulls don’t intend on disappointing, and they will surely pull through and raise the price of SAND.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Source: https://www.cryptopolitan.com/sand-price-analysis-2022-02-02/