SAND Technical Analysis: Will The $1 Retest Regain Bullish Speed?

SAND prices action shows a successful retest of the rounding breakout with the neckline at $1. Should you consider buying low? Key technical points: The SAND market price has decreased by 6.23% over the past 24 hours. The price action shows a breakout rally struggling to find bullish momentum. The 24-hour trading volume of Sandbox is $385 Million, indicating a drop of 11%. Past Performance of SAND SAND price action shows the bullish breakout of the rounding bottom pattern with a 62% jump between June 18th to 25th to reach $1.28. However, the retest phase of the rounding bottom pulls the prices back to the $1 mark. However, the falling trend in the trading volume during the retest phase increases the likelihood of a bullish reversal. Source- Tradingview SAND Technical Analysis The consecutive Doji formation near the $1 mark hints at a post-retest reversal in the SAND prices. Hence, traders with a long-term perspective can find the retest phase as an excellent entry spot. The DMI indicator displays the DI lines trying to sustain a positive alignment after the recent crossover. It is evident by the lines turning sideways turn, resulting in a dramatic decline in the bullish spread. The RSI indicator indicates a fall in the bullish sentiment as the slope retests the halfway line. However, the rising trend in the 14-day SMA reflects long-term growth in the underlying bullishness. The MACD indicator displays a positive trend in the f...