SAND Technical Analysis: The Chance Of The Fall Continuation Remains High

Fall by 65%, broken global growth trend, test of $1 mark.- the three major SAND sellers achievements in just one month. Interestingly, all these global strategic victories were realized by sellers with low trading volumes. The trigger for a powerful fall wave was breaking the $2.54 mark. In the previous article we talked about this mark. However, the positive mood of the cryptocurrency market allowed us to see only the probability of a false break of $2.54 and a return of the price within the consolidation limits. The BTC price fall below local lows in June 2021 played an important role in SAND pricing. However, the main question is if there is a great prospect of SANDUSDT price fall without local corrections. The main range from which you can try to buy SAND is $0.8. It is in this mark that you can place limit purchase orders and watch closely as the SAND price jumps up. It is by the nature of the rebound and yoga magnitude, you can decide whether to keep gained position. Technical Analysis Of SAND On The Daily Timeframe Analyzing the movement of the SAND price on the daily timeframes, you can see that buyers are busy. During the daily candle from 13 May, buyers were able to absorb the previous daily candle. This is a remarkable achievement, given that trade on 12 May was abnormally high. Absorption of the entire offer of sellers indicates the willingness of buyers to organize a rebound of the SAND price at least to the mark of $2. At this point, there was serious opposition from buyers in the period from 1 to 9 May. It was after the breakdown of this important level that the SAND price made a new fall wave. A new local fall wave will most likely start at $2. To keep the initiative in the SAND market, buyers need to stop price fall in the range of $1.1. In this case, we expect a strong growth wave with the first target of $2.8. The SANDBTC Price Broke The Main Mark Of 0.00005 The weekly timeframe of the SANDBTC price movement shows that an interesting adventure could have been organized on the market. Yes, sellers managed to break the global range of 0.00005 and go beyond the consolidation wedge. Though, the weekly candle has every chance to close above 0.00005 and organize a false break of the liquidity range. In this case, back in May, we can see a sharp local growth impulse to the mark of 0.000067, where it becomes clear what to expect from the SAND market in the near future. An unsuccessful attempt by buyers to break this mark will mean a continuation of the downward trend. In this case, investors should prepare for the local low update.

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