- The Sandbox price has fallen below the consolidation phase at 2021 lows over the daily price chart.
- SAND crypto has dropped below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of SAND/BTC is at 0.00004907 BTC with an intraday drop of 6.04%.
The Sandbox price has fallen below the consolidation phase at 2021 lows and is trading with downtrend momentum over the daily price chart. The token needs to gather support from buyers in order to start its recovery phase. However, bears are trying to pull the token towards the lower levels and SAND bulls need to accumulate themselves to provide support to the token to maintain itself above the $1.00 mark. SAND investors need to wait for any directional change over the daily chart. SAND bulls must try to reverse the trend to let the token surge back inside the consolidation phase.
The price of Sandbox is currently estimated at $1.06, and in the past 24 hours, it has lost 12.89% of its market value. The intraday trading session has seen a 25% increase in trade volume. This demonstrates that purchasers are attempting to participate in the SAND coin trade. Volume to market cap ratio is 0.2783.
SAND coin price must accumulate buyers in order to surge back inside the consolidation phase. The token must attract buyers in order to start its recovery phase. However, volume change can be seen below average and needs to grow in favor of bulls to let SAND coin recovery. Meanwhile, SAND crypto has dropped below 20, 50, 100 and 200-days Daily Moving Average. It’s a matter of time to see if SAND crypto maintains itself above $1.00 level or slumps more.
What do Technical Indicators suggest about SAND?
SAND coin price needs to attract more buyers in order to adapt the rising momentum over the daily chart. Technical indicators suggest the downtrend momentum of SAND coin.
Relative Strength Index showcases the downtrend momentum of SAND coin. RSI is at 31 and is preparing to enter the oversold territory. MACD exhibits the bearish momentum of the SAND coin. The MACD line is below the signal line after a negative crossover. SAND investors need to wait for any directional change to conclude the price action of the token.
Conclusion
The Sandbox price has fallen below the consolidation phase at 2021 lows and is trading with downtrend momentum over the daily price chart. The token needs to gather support from buyers in order to start its recovery phase. However, bears are trying to pull the token towards the lower levels and SAND bulls need to accumulate themselves to provide support to the token to maintain itself above the $1.00 mark. However, volume change can be seen below average and needs to grow in favor of bulls to let SAND coin recovery. Technical indicators suggest the downtrend momentum of SAND coin. SAND investors need to wait for any directional change to conclude the price action of the token.
Technical Levels
Support Levels: $1.00 and $0.95
Resistance Levels: $1.12 and $1.50
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.
Source: https://www.thecoinrepublic.com/2022/08/19/the-sandbox-price-analysis-will-sand-maintain-itself-above-1-00-mark/