https://ift.tt/p5DJGiz price analysis: SAND shows bearish opportunities at $4.62

TL;DR Breakdown

• SAND price analysis is bullish for today.
• The strongest resistance is present at $5.08.
• The strongest support is available at $4.4.

SAND price analysis reveals that the cryptocurrency has been following a rocky bullish trend displaying slight bearish opportunities, with the price of SAND/USD moving towards the $4.65 mark. On February 9, 2022, the cost of SAND started to suddenly crash and reached $4.5 but shifted to a positive momentum the next day. On February 10, 2022, the price began to spike with positive momentum after experiencing a significant increase to $4.7, right before decreasing to $4.62, which is also the current price of SAND; the price continues with a fluctuating movement.

The market dynamic appears to be strongly bullish, making it suitable for raising the price of SAND. The Sandbox has been up 1.12% in the last 24 hours, with a trading volume of $808,981,713. SAND currently ranks #33 with a live market cap of $4,777,235,332 and a circulating supply of 1,035,054,385 SAND coins.

SAND/USD 4-hour price analysis: Latest developments

The SAND price analysis reveals the market’s volatility follows a decreasing 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 SAND market appears to have entered as squeeze as the resistance and support band come close together. As a result, the upper limit of the Bollinger’s band is present at $4.8, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is available at $4.4, which represents the strongest support for SAND.

The SAND/USD price appears to be crossing over the curve of the Moving Average, indicating a bullish trend. However, since the volatility seems to be decreasing, the market trend becomes more predictable. Nevertheless, the SAND price appears to be following a downward direction making the cryptocurrency track a declining movement, showing opportunities for bears to reverse the trend.

The Relative Strength Index (RSI) is 54, indicating that the cryptocurrency falls in the stable category falling in the upper neutral region. The RSI path appears to be following a linear direction indicating that the price of SAND is experiencing stability. The RSI score is constant because of the equivalence of selling and buying activities.

SAND price analysis for 1-day: Bearish possibilities

The SAND price analysis reveals the market’s volatility following an increasing trend, meaning that the price of SAND/USD will follow the volatility into becoming more prone to experience volatile change. The upper limit of the Bollinger’s band is available at $4.08, which serves as the strongest resistance for SAND. Conversely, the lower limit of the Bollinger’s band is present at $2.6, 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, but the market shows sight bearish opportunities; only time will tell what the SAND market will decide. However, the price appears to move downwards towards the moving average, attempting to meet it. If that happens, the market dynamics will be reversed.

The Relative Strength Index (RSI) is 57, indicating that the cryptocurrency is stable and falls in the upper neutral region. The RSI path appears to follow a downwards direction, indicating a decreasing market and possible stability. The RSI score decreases due to the dominant selling activity.

SAND Price Analysis Conclusion

Careful observations from the SAND price analysis have deduced that the bulls control the market with the bears attempting to take it from them. The price has been climbing for $4.7 for a while and has reached its goal only to decline. However, as the bears show some potential, the market is put at risk of devaluation.

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