SAND Technical Analysis: Rejection Hints The End Of Correction Phase

The SAND coin price action shows a growth of 12.50% in the last 24 hours, with a lower price rejection indicating a potential bullish reversal. The overnight growth of 9.66% in the SAND coin price marks the potential end of the correction phase as the buying pressure increases. The price action sustains above the $3 mark and hints at a daily chart’s bottom creation. However, the possibility of a $3 fallout indicates the threat of a bearish takeover. Will the downfall regain momentum? Key technical points: SAND coin price sustains above the $3 mark. The price chart shows a bearish crossover of the 50 and 100-day EMAs. The 24-hour trading volume in the SandBox token is $1.31 Million, indicating a 4% fall. Past Performance of SAND The SAND token price continues the downfall from the 50-day EMA as it fails to sustain above the $4 mark. The rejection from the $4.35 mark resulted in a decline of 32% last week. Moreover, the downfall breaks below the 200-day EMA and consolidates below it. Source-Tradingview SAND Technical Analysis The SAND coin price action resembles the movement observed in the last week of January near the 200-day EMA. Moreover, the lower price rejection of more than 10% last night increases the possibility of a bullish reversal. The crucial 50, and 100-day EMAs give a bearish crossover in the daily SAND/USD chart resulting in the increased bearish attention. Moreover, despite the lower price, rejection-led growth ...