SAND Technical Analysis: Bulls Go Underground As Trend Approaches $2

With the breakout of the triangle pattern, the SAND coin price falls below the 200-day EMA and $3. Will the downfall reach $2? The SAND coin price shows a downfall of 34% in the last seven days, resulting in the triangle pattern breakout mentioned in our previous article. The downfall cracks open multiple support levels like the 200-day EMA, a short-coming trendline, and the $3 psychological support mark. Hence, putting the SandBox in a defensive stance. Will the downfall create a bottom soon or reach the $2 mark? Key technical points: SAND coin price breaks below the $3 mark. The 50 and 100-day EMA are on the verge of a bearish crossover. The 24-hour trading volume in the SandBox token is $1.26 Billion, indicating a 30% rise. Past Performance of SAND SAND coin price fails to sustain above the 50-day EMA despite the 55% jump from the 200-day EMA accounts a leap from $3 to $4.75. However, the long-coming resistance trendline bears down on the uptrend resulting in the triangle pattern breakout. The downfall creates multiple bearish candles before taking down the $3 support level. Currently, the market price of the SAND token is $2.86, with a 13.30% fall in the last 24 hours. Source-Tradingview SAND Technical Analysis The increasing number of sellers is evident by the higher price rejection and the 30% jump in the trading volume. Moreover, the price action hints at an inverted head and shoulder breakout that has given the massive...