The Sandbox (SAND) Weekly RSI Falls to New All-Time Low

2022-6-21 23:15

The Sandbox (SAND) has reached a long-term horizontal support level and broken out from a descending resistance line shortly afterward.

SAND has been falling since reaching an all-time high price of $8.48 on Nov. 25, 2021. The decrease has so far led to a low of $0.73 on June 18, 2022. Measuring from the all-time high, this amounted to a drop of 91%. 

During the decrease, the price broke down from an ascending support line that had been in place for 623 days. A breakdown from such a long-term structure often indicates that a trend reversal has occurred. 

This possibility is strengthened by the fact that the weekly RSI for SAND has fallen below 50, and is now at an all-time low of 33. 

Currently, the price is trading just above the $0.77 horizontal support area, a level that previously acted as resistance in 2021.

SAND/USDT Chart By TradingView SAND break out

The daily chart provides a more bullish outlook than the weekly one. 

The first reason for this is that the price has already broken out from a descending resistance lien that had been in place since the beginning of April. 

The second one is that the daily RSI has generated a very significant bullish divergence. However, it has yet to move above the high between the divergences, which would confirm the bullish reversal. 

In order for this to occur, the price would have to move above the two closest resistance levels, which are found at $1.43 and $1.93, respectively.

SAND/USDT Chart By TradingView Wave count analysis

Cryptocurrency trader @JacobEmmerton tweeted a chart of SAND, which suggests that another downward movement is likely prior to a bullish reversal.

Source: Twitter

Since the price has broken down from a symmetrical triangle on June 6, this indicates that it completed wave four of a five wave downward movement at that time.

So, it is possible that SAND also completed the fifth wave with its low of $0.73. If so, a considerable bounce would be expected. The closest resistance area when measuring the decrease of this five wave movement would be at $1.65, between the two previously outlined resistance levels.

Therefore, the wave count supports the possibility that a significant bounce will transpire.

SAND/USDT Chart By TradingView

For Be[in]Crypto’s latest bitcoin (BTC) analysis, click here

The post The Sandbox (SAND) Weekly RSI Falls to New All-Time Low appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

BeachCoin (SAND) на Currencies.ru

$ 0.0002151 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 SAND

sand sandbox new all-time low falls weekly

sand sandbox → Результатов: 104


SAND Has Just Been Added On Binance US – Will It Hit $1 In The Coming Days?

SAND is the native token of the Sandbox metaverse and is used to facilitate gameplay transactions such as purchasing digital land and interacting with user-generated content. Sandbox started out as collaboration between Pixowl and developer Onimatrix Binance listed SAND and is already available for trading on its platform The token is responding positively with this development, trading at $0.

2022-10-6 07:19


Аналитик увидел хорошие перспективы у токена SAND

Ведущий криптовалютного YouTube-канала Coin Bureau Гай рассказал, что игровой альткоин The Sandbox (SAND) на основе Ethereum готов к резкому росту в ближайшие недели. SAND – это нативный токен виртуального мира на основе Ethereum The Sandbox, который позволяет фанатам видеоигр монетизировать свой игровой опыт.

2021-11-18 08:57


Стоит ли покупать сейчас игровые токены?

За последние дни некоторые токены игровых децентрализованных проектов показали значительный рост. Например, стоимость токена Decentraland (MANA) за неделю выросла на 300%. За аналогичный период токен игрового проекта The SandBox (SAND) подорожал на 240%.

2021-11-3 21:02


Фото:

Игровая блокчейн-платформа The Sandbox проведет токенсейл на Binance Launchpad

Криптобиржа Binance проведет токенсейл проекта The Sandbox на платформе Launchpad. Продажа токенов SAND стартует 13 августа 2020 года. Об этом сообщается на официальном сайте криптобиржи. Владельцы utility-токена SAND смогут продавать и покупать предметы в игровой вселенной The Sandbox.

2020-8-7 10:00