Sandbox Price Prediction: Positive RSI Divergence Signals A Strong Upward Move For SAND Price
The recent news that US President Biden will be signing an executive order to create a ‘Digital dollar‘ has brought a sudden pump in the crypto market. Following the overall sentiment, the Sandbox(SAND) price bounced back from the $2.74 support, indicating a 4.43% intraday gain. Can traders maintain this bullish momentum to breach the long coming descending trendline?
Key points:
- The 50-DMA provides strong resistance to SAND price
- The daily-RSI shows a positive divergence concerning the SAND price action
- The intraday trading volume in SAND price is $266.5 Million, indicating a 19.44% gain.
Source- Tradingview
The Sandbox(SAND) traders aggressively sell in downtrend rallies using a highly influential descending trendline. The recent reversal from the dynamic resistance plunged the altcoin to $2.73 monthly support.
Last week, the buyers tried to bounce back from this support($2.73) and breached the immediate resistance of $3.42. However, the altcoin couldn’t overcome this overhead resistance and plummeted back to bottom support.
Today the altcoin bounced back from the $2.73 support, suggesting this level as a high accumulation zone. The sustained buying momentum would drive the coin price by 15%, challenging the shared resistance of $3.42 and descending trendline.
A breakout and sustainability above this overhead resistance would indicate the traders’ sentiment has shifted from selling the rallies to buying the dip, predicting a potential recovery to $4, following the $4.4.
Conversely, if sellers sink the altcoin below the $2.73 support, the SAND holders will face a 24% downside risk.
Technical analysis
The daily-Relative Strength Index shows an evident positive divergence concerning the last three swing lows, indicating a possible bullish reversal from the $2.75 mark.
However, the declining 50 and 100 DMA suggest the bear has the upper hand. Moreover, the buyers have recently lost the 200 DMA support, offering an extra edge to short-sellers.
- Resistance levels- $3.42, $4
- Support levels- $2.75 and $2
- Fed’s Anna Paulson Backs Rate Cuts, Downplays Trump Tariff Impact
- Is Another BTC Price Crash Ahead As ‘Trump Insider Whale’ Increases Bitcoin Short to $340M
- Bitget Reveals Rising Crypto Adoption as Nigeria, China, and India Lead Growth
- Breaking: Michael Saylor’s Strategy Adds 220 Bitcoin Amid Crypto Market Dip
- Breaking: China Renaissance Bank Eyes $600M Raise for BNB-Focused Fund with YZI Labs
- Trader Sees a Dogecoin Price Surge as House of Doge Sets for a NASDAQ Listing
- Will Shiba Inu Price Recover After the Crypto Crash As Burn Rate Soars 8,194%?
- Bitcoin Price Mirrors March 2020 Crash as US–China Trade Easing Fuels Recovery
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
- Can $TAPZI Reach $1 In Q1 2026?
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.
