SAND worth stays pressured to check contemporary every day lows, it sliced beneath the essential transferring averages signaling a bearish outlook for the token. The latest worth motion signifies the break of a dependable assist space, suggesting impending bearish momentum in SAND.
- SAND worth is on a steady draw back spree because it failed to carry key assist areas.
- Additional, elevated promoting strain might propel SAND to drop 15% extra from the present ranges.
- A reversal within the worth on the pre-condition to a every day shut above $2.65.
The 24-hour buying and selling quantity of SAND holds at $497,269,667 as up to date by the CoinMarketCap. As of writing, SAND/USD reads at $2.70, down 6.11% for the day.
SAND worth trades destructive
SAND worth breaches all provide zones, extending from $4.52 to $3.86 since February 9. Additional, the worth sliced two of the crucial transferring averages at $3.30 and $3.21 respectively on April 5.
Up to now, the SAND worth had retraced almost 45% from the highs of $4.86. On the present ranges, the worth examined the important assist a number of instances, giving rise to a triple backside formation. Nevertheless, the rising volumes together with declining costs inform a special story.
If the SAND worth breaks beneath the session’s low, it would point out the persistent promoting of the asset. On this case, SAND might revisit the assist ranges final seen in November at $2.30.
However, a bounce-back may very well be anticipated within the worth close to the talked about assist zone. A spike within the purchase orders might propel the worth to recapture the April 6 highs at $3.33. A decisive breakout above the highs would revisit the March 31 excessive at $3.86.
The every day Relative Power Index (RSI) is close to the oversold zone. At present, it reads at 35.