NewsletterSAND Price Analysis: Inverted H & S Pattern Hints Bullish Reversal In SAND Price; Good Time to Enter Longs?
During the retracement phase, the SAND price lost almost 70% from the All-Time High of $8.48. The token price has plunged to $3.3, where the demand pressure near 200-day signals a bullish reversal. Moreover, recent news about Warner Music Group (WMG) entering the metaverse through Sandbox with its Music-centric theme park.
Key technical points:
- The daily-Stochastic indicator shows a bullish crossover among the K and D line
- The intraday trading volume in the SAND token is $1.3 Billion, indicating a 3.6% loss.
Source- Tradingview
In our last coverage on Sandbox technical analysis, the SAND buyers lost the 50% retracement mark($4.4). However, under the influence of bearish sentiment around the crypto-verse, the bear attack continued and dropped the token to $2.75, indicating more 17% devaluation.
- However, the buyers defended $2.75 SAND price mark, and along with the support of 200-EMA, the SAND price bounced back. The SAND/USD pair shows a 30% ROI from the recent low and has managed to reclaim a minor resistance of $3.3, teasing a recovery opportunity.
- The daily-Stochastic RSI providing a bullish crossover of the K and D line is steadily approaching the midline.
- However, the daily technical shows a bearish crossover of the 20 and 100 EMA, luring more sellers to the token.
Inverted H & S Pattern Brings Bullish Opportunity In SAND Price
Source-Tradingview
Source-The recent recovery in SAND price shows an inverted head and shoulder pattern in the 4-hour time frame chart. The SAND price is currently retesting the $3.3 neckline after a bullish breakout, providing a long entry opportunity for traders.
With the price sustaining this breakout, the SAND/USD pair could rise to the $3.82 mark in the coming week.
The 4-hour moving average convergence divergence offers extra confirmation for this pattern breakout as both the MACD and signal jumps above the neutral zone(0.0)
- Resistance levels- $3.8, $4.4
- Support levels are $3.3 and $2.7
- Just-in: White House Reviews IRS Proposal To Tax US Citizen’s Outbound Crypto Holdings
- Grayscale’s Dogecoin ETF Could Launch on November 24, Says Bloomberg Analyst
- Gold Tops Bitcoin as BTC Extends Decline, Losing Its YTD Gains
- Charles Hoskinson Reveals Midnight Roadmap, NIGHT Token To Go Live Dec 8
- Bybit’s Blockchain for Good Alliance Ends Impact Forum 2025 with SDG-Focused Initiatives
- Will MOODENG Reach $0.1 and MEW Hit $0.002 After Robinhood Listing?
- What’s Next for Cardano Price After Breaking Below Key Support Level?
- Pi Coin Price Could Jump 30%, But There’s a Catch
- Expert Sees XRP Price Rally if it Holds Key Support Ahead of Ripple ETF Launch
- Chainlink Price Eyes Breakout as Whales Scoop 150K $LINK
- Top Analysts Predict How Low Bitcoin Price Might Fall?
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.
Premium Partners
