SAND Price Analysis: Sandbox (SAND) Price Attempts to Break $2.45 As 4 Hr Chart Reveals Hidden Bullish Divergence

By Sunil Sharma
Published November 1, 2021 Updated November 13, 2021
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SAND Price Analysis: Sandbox (SAND) Price Attempts to Break $2.45 As 4 Hr Chart Reveals Hidden Bullish Divergence

By Sunil Sharma
Published November 1, 2021 Updated November 13, 2021

Facebook’s recent rebranding to META endorses the metaverse, consequently leading to a surge in the price of metaverse-related crypto projects such as SAND, AXS, and MANA. The social media giant shifts its long-term focus from messaging and social media to immersive 3D virtual environments. Let’s analyze the SANDUSDT price chart for significant chart patterns, trends, support, and resistance levels.

SAND Price Analysis: Weekly Chart 

The SAND token records a new all-time high in the fourth quarter of 2021 following a hidden bullish divergence pattern on the weekly chart above. Bullish momentum persists on the weekly time frame of the SANDUSDT as the relative strength index records higher readings above level-75 and level-25.

We anticipate a price pull-back, however, we’ll have to move down to the lower daily and 4HR time frames to see if we can enter at oversold levels.

SAND Price Analysis: Daily Chart 

The daily time also shows an uptrend for the SANDUSDT as the RSI records higher numbers above level-25.

A sudden price close above the 26 October ’21 resistance confirmed the decision to take a long position and a price surge to the upside. Meanwhile, we still anticipate a price correction and we’ll have to move to the lower 4HR time frame for clues into the price pull-back.

SAND Price Analysis: 4 Hr Chart 

The 4HR intraday time frame reveals entry price levels where the RSI plunged below level-25 on 17 October 20:00 and 27 October 08:00.

A series of hidden bullish divergence setups with the most recent on 31 October 16:00 suggest that the SAND token may have found a price floor at 1.4422 and is set to resume the uptrend towards the $2.450 resistance.

However, the 1HR time frame signals a regular bullish divergence upon exiting the oversold area.

With that said, we expect the uptrend to continue from the intraday time frames.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Sunil Sharma
294 Articles
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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