Sign Up on MEXCSAND Price Prediction: Face Upside Risk Of 40% But Upside Remains Capped Near $4.0
SAND price edges lower and continues to consolidate within the prevailing technical pattern. SAND might look out for some signal to heads toward an upswing at the descending trend line.
- Sandbox price trades on the negative side on Thursday.
- SAND respects the vital support of around $2.80 as found in multiple bottoms.
- Expect more gains if slice above the descending trend line on a daily basis.
SAND price consolidates near $2.80
On the daily chart, SAND price is trading in a long-term downside trend and continues to move sideways lately. Despite, the recent consolidation, the token may retest the bearish slopping line, which is extending from the highs of December 26 at $6.96.
In an attempt, the price will tag the immediate upside filter at $3.20.
Furthermore, the SAND price faces the next upside hurdle at the 50-day EMA (Exponential Moving Average) at $3.60. An additional resistance barrier may emerge at the psychological $4.0 level.
In addition to that if the asset manages to give a decisive close above the highs of February 16 at $4.45 then it could take out the ultimate target of $5.0.
Alternatively, a surge in the bearish sentiment could force the SAND price to smash the critical support level of $2.80. In that scenario, the price could revisit the lows last seen in November at $2.03. An increase in the selling pressure could push SAND’s price to $1.50.
Technical indicators:
RSI: The daily Relative Strength Index forms a bullish divergence with the price since February 21. But the price fails to capitalize on the formation.
MACD: The Moving Average Convergence trades near the oversold zone with a neutral stance. Any uptick in the indicator could push the price higher.
As of press time, SAND/USD is trading at $2.82, down 4.72% for the day.
- Cathie Wood’s Ark Invest Backs Nasdaq-Listed Solmate To Launch $300M Solana Treasury
- First U.S. Spot Dogecoin and XRP ETFs Launch as REX-Osprey Debuts DOJE and XRPR
- Analyst Calls $6 XRP Target for November Amid Ripple CEO’s White House Stockpile Hint
- Ethereum Faces Selloff Risks As Whales’ Unrealized Profit Hits 2021 Highs
- Expert Predicts 138% Shiba Inu Rally as SHIB Futures Listing Opens Spot ETF Path
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
