SAND Price is Facing Stiff Resistance at $0.635; What Next?

SAND price prediction indicates that the SAND crypto may see further depreciation in its value within the next few months. Presently, the SAND price is down by 16.72% over the past 7 days and according to the price action, it is facing bearish pressure.

At present, the bears are in charge of the trend where they are maintaining firm command over the price action, although the bulls attempted to take control. Despite the bullish optimism, the buyers were unable to break above the $0.63563304 level, and bears regained supremacy over the price action on the 1-day chart.

SAND crypto is trading above the key exponential moving averages but the price is within the bears’ grasp. The price is facing resistance from the upper resistance levels at present on the daily time frame. The price is facing substantial selling pressure in the supply zone which indicates that bears may push its value down further shortly.

The technical indicators suggest that bears hold the edge over the price action. The price pattern, oscillators, EMAs, and Volume are moving in tandem, giving similar signals.

At the time of writing, SAND is trading at $0.52241329 with an intraday drop of 10.97%, signaling bearishness. Moreover, the trading 24-hour volume is 183.819 Million and the last market cap is $1.11 Billion.

Technical Analysis of SAND Crypto Price in 1-D Time Frame

At the time of publishing, SAND crypto (USD: SAND) is trading above the 50 and 200-day exponential moving averages (EMAs), which are supporting the price trend. 

However, if selling volume adds up, then the price might conquer supporting SMAs by making lower highs and lows. Hence, the SAND price is expected to move downwards giving bearish views over the daily time frame chart.

The current value of RSI is 45.91 points. The 14 SMA is above the median line at 62.93 points which indicates that the SAND crypto is bearish. The MACD line at 0.02546121 and the signal line at 0.03194951 are above the zero line. A bearish crossover was observed in the MACD indicator which signals more bearishness for the SAND crypto price.

Summary

SAND (USD: SAND) technical oscillators support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the SAND crypto price. SAND price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment. The current scenario requires traders and investors to be patient and look for a clear break below or above the range before making any moves and avoid the fear of missing out to minimize losses.

Technical Levels

Support Level: $0.27608683

Resistance Level: $0.63563304

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.